1. ASD Market week recap
Ryan C. Parra

2. What is ASD Market Week
ASD Market Week is the largest B2B trade show that brings together wholesale buyers and retailers together in Las Vegas.
Over 45,000+ wholesale buyers represented. Retail, Food, Medical, Mineral/Mining, Clothing, etc.
45min-1hr break out sessions ran from Sunday- Wed, 8am - 5pm each day. Total of 6 simultaneous breakout halls. Over 200 hours of breakout sessions.

3. Breakout sessions Just a few I attended included:
HSN, Facebook Live and LiveShopCast: How Live Video Has Transformed the Retail Industry
The Future is Now for Independent Retailers: A Q&A Panel Discussion
Nine Secrets to Compete and Win Against Amazon and The Chains
Marketing to Millennials: It’s Easier Than You Think
How Technology is Empowering Small Businesses: A Case Study
"Movers and Shakers, How can you help grow the sector?"

4. LIFESTYLE TREND REPORT
The Lifestyle Trend Report is a yearly report provided to Executives, Business and Industry leaders, Elected officials, and Media outlets highlighting current trends, stats, and expected changes/growth within the industry.

5. So what did the Report cover?
Retail everywhere
Augmented reality
Distributed manufacturing
Advances in biotechnology
Shifting demographics
Urbanization in the United States
Global economic shifts
New approaches to health and wellbeing
The ubiquity of data
Radical transparency
Self- and community-reliance
The rise of the sharing economy
Empowered consumers
Circular economy
Decline in ecosystem services
Water insecurity
Resource scarcity
Time poverty
Geopolitical Instability
Energy transformation
Education revolution
Coping with climate change

6. The “Take aways”
After spending 20 hours in breakout sessions and two days on a convention floor, here are the topics of discussion that will have the biggest impact on Rio Rancho within the next 10 years.
The report discussions included: Retail everywhere, Distributed manufacturing, Self and Community reliance, Decline in ecosystem services, and the rise of the sharing economy.
In addition, I want to touch on a business promotion model used by another city in the "Movers and Shakers, How can you help grow the sector?"

7. Retail Everywhere
No longer confined to traditional stores, retail is increasingly ubiquitous. Transactions are becoming ever easier using mobile payments and automated subscriptions for regularly consumed goods. Stores are also popping up in new and unexpected places, such as train stations, truck, and bus “stores.”
Retail everywhere is becoming possible as a result of a convergence of several trends. Mainly due to increasing rates of smartphone ownership, growth of internet access, and increased transportation rates.
According to Forrester Research, 60% of U.S. retail sales involved using the internet by Consumers will either buy a product online or use the internet to research it before purchasing it in a store. An example is the “Millennials” who have never known a world without internet, social media, and mobile technology.
Takeaway: Needed Social Media presence, Local branding more important, SEE(Social, Educational, Environmental) impacts to a community.

8. Distributed manufacturing
Technological advances are making localized production easier than ever, and 3D printing and information technology could disrupt and localize conventional manufacturing. Industry is using networks of geographically dispersed manufacturing facilities, and 3D printers have become affordable for consumers to own for their homes or use in their local community.
A Boston Consulting Group survey found that more than half of US- based manufacturing executives at companies with sales greater than $1 billion are planning (or actively considering) to shift production from China back to the U.S.
Based on 2016 MSA population estimates from the U.S. Census Bureau. 37% or 118M out of US population of 325M people live in the top 20 metro areas.
Takeaway: Food products, Medical, and Construction materials are expected to become localized by 2025 rather than regionalized like they are now.

9. The rise of the sharing economy
Rather than buying new products, people are increasingly sharing or renting things like cars, bikes, power tools, clothes, and housing. Millennials have been credited with inadvertently creating a new form of consumer economy in which experiences and access to items are more desirable and prestigious than ownership.
Havas Worldwide, one of the largest integrated marketing communications agencies, reported in its 2014 “New Consumer and the Sharing Economy” study that more than a third of Millennials already belong to a sharing service or expect to join one within the next year. The U.S. sharing economy was worth $26 billion at the time and is predicted to increase. AirBnB, Uber, Kickstarter, and GoFundMe are all examples of businesses in the sharing economy.
Takeaway: The sharing economy within financial services, transportation, and entertainment sectors are expected to see the largest growth in the coming years.

10. Self and Community reliance
New models of self and community reliance may flourish as a result of greater access to digital platforms, growth in distributed manufacturing, and the rise of the sharing economy, with the potential to distance people from brands.
The number of Maker Faires (Maker Faire is an event created to celebrate arts, crafts, engineering, science projects and the Do-It-Yourself mindset) around the country has grown more than twentyfold in the past seven years, from 22,000 in 2006 to 530,000 in 2013.
Some have called this ‘the IKEA Effect’ one in which people cherish the things they build more than the things they buy. This has lead to decrease in pre-made consumer products, but construction materials and products have increased in consumer demand steady each year. Farmers markets across the country has nearly doubled, from 4,685 in 2008 to 8,144 in 2013, according to the Agriculture Department.
Takeaways: Study found consumers are now prioritizing local businesses and goods even if prices are higher. Consumers will travel for the “Experience”.

11. Decline in ecosystem services
Although generally not valued or factored into investment decisions, Sustainable ecosystems based design layouts for businesses have considerable benefits. These range from increases in revenue, worker health, and positive marketing effects to consumers.
Millennium Ecosystem Assessment found that certain plants when used in landscaping or indoor decorations had a direct sales correlation. Charles Sturt University confirmed that Lavender, when seen and smelled, created feelings of safety and relaxation. After being assigned to either the "relaxed" or the "pleasant but not relaxed" condition, subjects were then asked to assess the value and bid on various products.
The main takeaway’s from these studies showed that those who felt more relaxed spent more money. In one experiment, subjects had to bid on a digital camera in a simulated auction. Those in the control made bids that closely approximated the actual value of the camera. The second “Relaxed” group of subjects made bids that, on average, were about 15% higher than the market price. In other studies, participants were asked about shopping or dining prices, in most cases “Relaxed” participants spent 10% more then the control group.

12. Decline in ecosystem services - Takeaways
Consumers are very actively searching for open space and eco-based experiences. As our presenter stated, “People no longer want to interact with lifeless stores, restaurants, or meeting spaces. Few businesses have prominent or substantial life in their lobbies anymore, whether it be plants, fish, or running fountains. It’s no surprise though that the ones that do gain the wealth of the Boomers and the interest of the Millennials ”.
Some of the big takeaways in Eco-services included: Increases in consumer spending, increased worker health, increased perceived desirability, and creation of “Experience spending”. In addition, some plants help community health by detouring certain bugs types. Example: Mosquitos avoid lavender.

13. Movers and Shakers “How can you help grow the sector?"
Shout out to Buy Rio for being ahead of the curve! In a study, small business/entertainment promotion groups will be mandatory to local growth by 2020.
Local Media outlets created a “Business spotlight” which highlights newly created businesses and birthdays of older community businesses weekly in order to help promote/market businesses.
Some Municipalities funded the creation of fulltime “Business Liaisons/Ambassadors”. They work with local businesses and business groups to help promote them in the media, bring educational materials to businesses, help to provide schools with business contacts, they also serve as a direct link of information to governing bodies or public officials.
Complementary buying will be the new “Coupon” in the coming years. Restaurant/Retail/Entertainment business cooperation will become the new norm.
Discuss -“Bring in Receipt for Discount promo strategy”.

14. Thank you!