Tag: Sustainability

2020 Predictions from Prevayl

With 2019 coming to an end, the beginning of a new decade promises real change in the tech industry. New technologies are set to enter the market, transforming the daily lives of consumers, while ideas that have been surfacing for a while are finally set to become the norm.

Since April 2019, Prevayl® has enjoyed huge growth as a business, adding leading experts from the fields of engineering, fashion, health-tech and intellectual property to our team. We caught up with them to understand their predictions for the year ahead.

Adam Crofts, CEO

One of the biggest trends for 2020 is set to be increased consumer desire to take ownership of their own health. No longer will people be happy to rely on an external assessment or interpretation.

Personal health data is fundamental to this change. When users can interact, curate and evaluate their own health data they can make the right decisions that will benefit them in the long run. We will then get to the stage when each person will have their own pre-emptive health insights to signpost them away from illness.

Noel Hamill, Chief Commercial Officer

Robotics. We’re already seeing day to day usage in Amazon warehouses for example. I can imagine more robotics coming into the home and performing menial tasks.

I also see the likes of artificial intelligence and machine working impacting the healthcare industry. Robotics will be involved in medical operations, with the ability to scan medical records and predict whether people would have any kind of future diseases. That’s very exciting.

Bella Hepworth, Apparel Design Director

In 2020, we’ll see more and more brands looking at sustainability and increased initiatives around this, following on from the likes of Adidas’ recycled plastic shoes earlier this year. I expect to see more innovation around sustainable materials with existing materials re-engineered to be more high-tech substitutes. R&D will be heavily focused on materials in 2020.

We also need to be wary of ‘greenwashing’, with so many brands jumping on the bandwagon of sustainability and creating content that makes it look like they are going the extra mile, but rarely doing so in reality. This leads onto the potential need for more self-regulation of the industry.

Education for consumers around sustainability continues to be extremely important as recent studies suggest it still isn’t a priority for many customers when they choose where to spend their money.

Tahir Mahmood, Director of Engineering

Robotics is set to change completely. Where once robots were primarily used to perform work that was too hard, dangerous or repetitive for humans, we’re now set to see human-robot interaction and cooperation, as the demand for robots to work with humans or to be controlled intuitively grows.

This covers a range of scenarios from robotics working interactively with humans in industrial manufacturing, robotic appliances designed to care for and help the elderly, and even autonomous robots in space or underwater.

Georgia Castleman, Marketing Communications Director

Biometric research is set to become integral for brands.

The right use of biometric data provides detailed audience insights, as well as patterns of user behaviour in relation to buying decisions, content, and online and offline experiences.

Biometrics can be used to track and measure a wide variety of different physical responses from users that are closely aligned with your target audience. When brands have that data it can be used to guide their future marketing, brand, and business strategies.  

Martin Ashby, Operations Director

2020 will see a growing interest from individuals in taking control of their wellbeing, resulting in demand for insight that reports on mental and physical health and offers advice on how to manage or improve it.

Additionally this will fuel a distrust of global food manufacturers, with more people taking control of what they eat. This could take the form of consumers insisting on knowing where their food comes from and how it was grown, clearer guidelines on the impact food will have on their body, or more actionable health data on labelling such as calories also shown as the equivalent duration of cardio exercise that would be required to burn them off.

In the medical world, there is likely to be a continuing shift from treatment to prevention. This will include GPs providing prescriptions for exercise or meditation as opposed to treatment using medication.

Sam Bird, Director of Intellectual Property

There are likely to be tussles over whether an AI can be a legal inventor of a patent. The Artificial Inventor Project is fighting for the rights of AI inventors. 2020 could potentially see a legal conclusion to this issue.

We’ll also see the implementation of the unitary patent system in Europe, but questions remain as to whether the UK will be able to take part in this project due to Brexit.

There may also be an increase in claims for employee compensation for the benefits of patents following the Shanks v Unilever ruling at the UK Supreme Court in 2019.

Michael John Lynch, Director of Electronics

Smart technology is becoming the norm for consumers.

We’ve recently seen the news that Ikea has invested in a dedicated business unit for smart home tech. While the Ikea target audience was never a tech-first audience, this recognition illustrates the importance of smart tech for the everyday consumer and their continuing expectations around it.

While these expectations in the home increase, we’re also set to see consumer frustration and apathy towards the need to have multiple contracts with various content providers, such as Netflix, Amazon, and Spotify for example. Could this open the door for aggregators to enter the market?

We’ll be catching up with the team again in early 2020, to showcase what the year ahead holds for Prevayl.

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FT NextGen: Consumer desire fuelling disruption

All disruptors put consumers at the core of their product. Those businesses that succeed in changing markets, altering customer perceptions, and re-imagining business models don’t set out to be disruptors.

They begin with the notion of catering to consumer desire and improving the lives of the end users.

For us at Prevayl®, everything we do is focused on helping people to live healthy lives; a core human desire and an intrinsic part of human nature. By enabling individuals to interact with their own health data they will have the insights to help them make healthier choices every single day.

Consumer desire fuels change for the better. This was central to the discussion at FT NextGen, where we were lucky to attend. These are some of the biggest consumer trends fuelling disruption now and into 2020.

Disrupting banks of the future

Digital banks are completely re-imagining the market in the UK. Where once the old establishment dominated the sector, now the number of people using digital banks is expected to exceed 35 million in 2020.

Nearly 30% of consumers in the UK are willing to use a digital-only bank. Digital banks promise real-time spending updates, instant payments to friends, tools to monitor personal finance, no charges for using cards abroad, and enhanced security through facial and voice recognition for account access and transfers.

Put simply, they focus on exactly what consumers desire and provide market-leading tech features to cater for their needs. These are the seeds of disruption coming to fruition.

The future of content

Define ‘content’. Gone are the days of content being purely limited to the websites we visit, the newspapers and magazines we read and the TV channels we tune into.

Today, we’re all content creators.

Our online lives are our personally curated content feeds. Social media platforms began this trend and their algorithms have fostered and fuelled this desire. Your feed is created in line with the content you like and engage with, while your own page is the outward extension of your personality you want the world to see.

This phenomenon of the last decade or so has been driven by the desire for an individual experience, based around a personal customer journey. It has completely re-imagined how we consume content and detrimentally impacted traditional media outlets that simply can’t cater to the desire for personalisation on such a granular level.

This desire for personal curation of our own lives is beginning to be taken a step further by brands with innovative concepts to enhance engagement and create a personal customer journey. This is the central concept behind Burberry’s commitment to bring social selling to their stores, beginning in China. It feels like just the start.

Fashion’s sustainability problem

Consumer desire isn’t just fuelling the revolution of the shopping experience. Consumers are ever-more clued up on sustainability and how various industries continue to impact the world we live in.

Growing numbers of people globally are beginning to turn away from fast-fashion due to the environmental impact it continues to have.

This has led to a step-change from the world’s leading luxury brands. In August this year prior to the G7 Summit, fashion companies reached a landmark Sustainability Accord with the aim to enlist at least 20% of the global fashion industry in an effort to reduce their environmental impact. Brands involved from the outset include Gucci, Kering and H&M.

Consumer desire might once have fed the fast-fashion industry, now the world’s consumers are beginning to turn their backs.

The pursuit of passion

It isn’t just sustainability that is changing in the fashion industry.

The entire retail model is beginning to shift, especially when it comes to those smaller businesses requiring a route to market away from the costly traditional brick-and-mortar model.

This notion of the retail model being broken as opposed to the fashion model led entrepreneur Ross Bailey to launch Appear Here; an online marketplace for short-term retail space. Since it began in 2013, Ross has now worked with over 200,000 brands and operates in a number of cities worldwide including London and New York.

It means more brands on the market and better options for consumers.

Our work at Prevayl

Consumer desire continues to frame our approach to everything we do at Prevayl, ensuring we help people to live healthier lives through market-leading solutions to wearable technology.

The combination of our connected-clothing and health-management platform enables consumers to curate their individual health dashboard, offering everyone that wears Prevayl-enabled garments a personal customer journey.

Our technology is responsible and our fashion solutions sustainable, while our ability to offer fashion brands Prevayl-enabled solutions ensures a diverse marketplace in the wearables sector.

We have innovation at our core. We know that everything in our lives can be improved.

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