PE3 Trends Flashcards
The secret ingredient of trends is
Tension
Goal of resolving tension
Create new experiences
Trend definition
Consumer trends emerge when the relatively constant basic needs bump up against ever changing macro trends
When this intersection occurs
Tension arises
How to spot trends
What will my customers want next
What will people want next
How to know
Ask them?
Watch them
Big data
Look at other innovations
Consumer trend canvas
Framework to help you unpack and understand any consumer trend, and to apply it to launch successful consumer facing innovations if your own
Trendwatching.com
How to use the canvas
Take a trend
Start with the left side “analyse”
Right hand side apply to identity how where and who
Capture new innvation ideas
Age of healing
Consumers seek new routes to enlighten,ent
Persuit of self improvement
Rising interest in personal growth
Wellness beyond fitness and nutrition
Aided by ai
Embedding assistive intelligence into consumer lives
Artificial intelligence in day to day lives
Behaviour
The rise of value led segmentation
Away from old fashioned demographic segmentation to predict customer behaviour
Dig deeper: values, passions, convictions, attitudes
Brand beings
From authenticity to action
Consumers look for brands that make real progress on social change and empower them to do the same
Creator inc
Consumers are becoming their own business
Look for brand to help
For you
Consumers seek curation that solves choice paralysis
Empowering customers and their unique identities and values
Hyper customization
Freedonsim
Fun as the ultimate antidote
Climate change, rising home inequality, threats of terrorism
Global anxiety
Remedy- fun
Glass box brands
Internal processes and culture are important for brand buildings
Consumers want brands that reflect values
Transparency
Joyning
Digital encounters flourish
Evolution of internet: virtual worlds, metaverses
And augmented digital- physical realities
Power to the people
Loss of trust in central authorities, mainstream ideologies, institutions and the ‘elite’
People are taking frustrations out
Precarious
Safety is increasingly fragile
Future more uncertain than ever before
Consumers looking for brands to build resilience
Solace as service
Growing tension between purchase and purpose
Looking for brands that offer convenience without thr culpability
State of place
Local matters
Appreciation for brands that embrace a place
Unconsumed
Mindful consumption
Refrain, reduce, recycle, regenerate
Realmworld innovations that illustrated trends in action
Brand visions
Business models
Products/services/experiences
Marketing/advertising campaigns
Inspiration?
Social media
Analyzing trend inspiration
Brand
Who
Why
Insight
Campaign
Hierarchy of needs
Self actualization example: beauty + growth
Esteem example: reputation
Social needs example: intimacy
Safety example: stability
Physiological example: nutrition
2 examples of basic needs
Belonging
Convenience
2 examples of drivers of change
Aging population
Climate crisis
After analyzing basic needs and DOC (drivers of change)
Analyze expectations
After analyzing expectation
Apply innovation type + who
2 types of drivers of change
Shifts (slow movement)
Triggers (rapid shift)
Currencies of change
Discounts, vouchers, rewards to incentivise a desired behaviour
PDI
Purpose driven innovation
