The Brief

Business insights need to be transformed into something - an idea, product, service, new technology, and so on. This idea generation phase of business insights development is critical for modern marketers, innovators, designers, and entrepreneurs. One way to transform insight to ideas is through the trend funnel framework. If executed properly, a trend funnel allows you to be more creative, collaborative and less prescriptive and will lead to the development of a new idea.

The aim of this assignment is to assess your ability to apply the trend funnel to the retail industry in order to identify a new product or service innovation. In a post-COVID world, this industry has already seen some rapid innovations, but will any of them be long-lasting?

Recommended structure:

Your assignment should be presented in a visually engaging manner structured as a report including headings, such as those below. The report must also be presented in a professional manner in terms of the font size, spacing, margins, design, and referencing.

Executive summary

Summarise key points from your assignment

Contains 200-250 words

NOT an overview of the conclusion of your report

Table of contents

Introduction

Structure and scope of report

Introduction to trend forecasting, including why it is important

Overview of the retail industry, drawing out key insights

Main Body Headings

Use the six zones of the trend funnel framework as a guide

Conclusion

Summarise your report, including any implications from your innovation (e.g. what does it mean for the future of business?).

You should not present any new information in this section of your report.

References (excl. from the word count)

Harvard system of referencing.

At least 5 academic journal articles (recommended 8 to 10 for an HD) with high relevance to the brief.

Other information (websites, newspaper articles, etc.).