Hop On Board the Profit Train with VR, AI and Housewares
With the Holidays right around the corner, it is time to stock up and prepare for the fourth quarter. We’re not looking at a Hail Mary though.
We’re talking about preparing for trends that will guarantee success for your business in Q4.
VR has been slowly growing in the last few years. According to GeekTime:
“Virtual reality (VR) technology is starting to develop and see higher rates of adoption, but it hasn’t yet exploded the way analysts thought it might. Though sales for VR devices missed the mark in 2016, economists are expecting much higher sales volume in 2017 and beyond.”
VR doesn’t appear to be a flash in the pan, in an article on Forbes, one analyst likens the VR experience to the initial reaction to social media—a “flash in the pan.” It is a technology that is continually being explored and innovated. Conventions, such as the recent San Diego Comic Con (SDCC) featured VR tie-in events for upcoming films, such as Blade Runner 2049.
Three AIs and a Smart Home
The smart home trend is another that continues to push forward, much faster than VR. We live in a time where instant gratification is king. You know this. We want our fast food yesterday. We want to be able to initiate all of our chores through our smart devices.
Asking Alexa to order more diapers while keeping a toddler from making an even bigger mess is easier than hustling and bustling to the store.
This is the world we live in, and it is the world that is going to make you money.
Earlier this year, CNBC reported that, “In 2016, 80 million smart home devices were delivered worldwide.” That number is up 64% from 2015. Analysts are predicted that AT LEAST “130 million smart home devices will be shipped worldwide in 2017.
Plus, the smart home doesn’t appeal solely to Millennials—Boomers and Gen-X are also on board. This infographic from GfK examines the appeal of the smart home.
Say Hello to My Little Blender
Robots are not making our food yet, so don’t forget about the much needed Housewares.
In 2015, the small appliances and housewares market began to rebuild momentum and are staying on course for even more growth this year, says the NPD Group.
“Small kitchen electrics and housewares (non-electrics) are each forecast to grow two percent in 2017.” Part of this probably ties back into the smart home trend. People are going to want, and need, new appliances that are compatible with Alexa, with Google Home and with their smart outlets, switches and devices.
The Register points out that another reason behind this movement ties into the DIY mentality. Frankly, making food and beverages at home is cheaper. And, making your beer, cold brew coffee and beef jerky—well, it’s kind of cool. You can tailor it to your own tastes. The Register points out premium coffee, blending and smoothies as major points of interest in the market.
We’ve Got What You Need
There are a lot of growing markets, some new and some renewed, that you be tapping in to, to make your fourth quarter a success.
We’ve got the SKUs you can use to build and prepare your inventory to encourage that success at Petra.com.