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Trend Q&A: Decentralisation in Web3 and more

Decentralisation & Web3, sustainability goals and quantitative. Polaroid-style image of blocks in virtual world
WGSN Original Image, Shubham Dhage/Unsplash
Nov 16, 2022 By WGSN Insider

Decentralisation in Web3 and the metaverse, sustainability goals and the role of data in defining a strategy. That and more on today’s episode.

Want to know what’s next? Listen to the show where our experts from around the globe unpack your biggest challenges. This week, WGSN’s President and CEO Carla Buzasi takes us to New York and London. Hear from the friendly faces of our Mindset and Data Science teams.

Watch the full episode below or read on for highlights of this episode:

Q: How will decentralisation manifest beyond Web3 and the metaverse?
“The focus on community has led to the growth of hyperlocalisation as consumers pay more attention to where their products were made, preferring those that profit their local and social communities. Consumers are also revolutionising how they direct their money, showing significant growth in bartering, mutual aid and co-buying homes with friends to combat cost-of-living challenges.”
– Taiya Sharif, Trend Researcher, WGSN
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Q: How will the cost-of-living crisis affect businesses moving towards their sustainability goals?
“Despite the strain on purse strings and low retail footfall, consumers are still seeing sustainability as a necessity for businesses as their concerns around the climate crisis are rising. At the same time, legislation is coming. Elements of the EU strategy for sustainable and circular textiles are being trialled in several nations, so policy is imminent as soon as 2025 and businesses trading in the region will need to comply.”
– Carrie Davies, Lead Consultant, WGSN Mindset
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Q: What is the role of qualitative and quantitative analysis when defining a strategy?
“As more global organisations turn their attention to data-driven models to inform their decisions, they have fallen behind in incorporating non data-led insights into their analyses to back those figures in a more holistic way. In doing so, they fail in making the decision process bad-argument proof. Companies should incorporate data and qualitative arguments to achieve success against their competitors.”
– Alan Ruggiero, Strategy Analyst, WGSN
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