There are two common denominators when it comes to consumer trends: firstly, consumer behaviour is unpredictable, and secondly, the trends move a lot faster than they used to.
Today’s ‘big thing’ will be tomorrow’s outdated disposable piece of tech, which means keeping on top of consumer trends can be like trying to read a never-ending story. Technology is playing a major role in how consumers act – every 12 to 18 months computers seem to double their capabilities, which has an immediate knock-on effect to consumer expectations and requirements. Just think of the recent iOS 11; Apple has brought AR capabilities bringing the technology to the mainstream and everyday (before we even knew we wanted it!).
Market Disruptors
The effects of rapid advancement in technology have been highlighted by the number of market disruptors entering the fray. While these may not be recent, they’ve certainly been on our radar and for varying reasons. Recent headlines in the UK announced that Uber’s license to operate in London would not be renewed, effectively ‘banning’ them. However, before their fall their popularity threatened the black cab business by tapping on consumer’s need for immediacy – a clear consumer trend that we call Life On Demand.
Airbnb fares much better in the public eye and nine years in, it’s one of the most recognisable travel brands around the world for its product, visual marketing and importantly, the way it caters to consumer’s desire for story telling and authentic experiences.
The trend here is clear: tap on the long-term and predictive trends driving behaviour and you’ll either be future-proofed from disruptors or if you are a start up, you’ll set yourself on the right track.
Connecting and communicating to your consumer
With instant access and immediate information in mind, developing the right marketing and communications strategy to ensure you’re giving your customers and potential customers exactly what, when and how they want it is key to success. So how can you really do this when things move so fast? How do you stay connected with your customers so they keep coming back?
By having an unfair advantage over your competition and hearing exactly what trends are driving the economy right now, understanding which have the staying power, meaning they’ll still be relevant by the time your programme is deployed. And finally, knowing what you can and can’t afford to ignore.
Trending 2018
On Thursday 19th October, we’re hosting our biggest ever annual global conference, Trending 2018 where 400 delegates will join us for a full day of exciting consumer trends content, based on our analysis of Foresight Factory’s unique data set.
Watch the video below where our Marketing Director Emma Hewage explains more about what to expect from your day with us at Trending 2018.
The replay of our Trending 2018 conference is now available here. Watch for Foresight Factory’s newest data and game-changing insights into your consumers.
