Innovation: Consumer Trends
Turning Future Forecasts Into The Raw Materials of Future Innovation Platforms
The best forecasts in the world are of no value if you don't convert them into relevant platforms for innovation. Our aim is to identify the most relevant meta-forecasts ... and use them as inspiration in creative workshops to help our clients explore what the future might bring.
To give you a flavour of what the world might be like in 2020, we're happy to share eight of our fifteen power trends with you ...
Sustainability - Sustainable claims are increasingly perceived as an indication not just of greater integrity, but also better quality. The importance of inherently good nutrition is being recognised. Low-processing, simplicity and short, clean ingredient lists are key. As are clearer and more comprehensible labelling on both front and back of pack. In recent months we've seen mainstream brands like Mars and Cadbury go sustainable. We've also seen a resurgence at the Co-Op with its proven sustainability credentials. We'll see more in the future.
Recession Retail: Forget enforced austerity, frugality is fashionable! Not only are own label ‘brands’ increasingly acceptability, and shopping at Aldi & Lidl ok, but conspicuous frugality (bragging about how much you saved or how little you paid) are becoming increasingly common ... even mongst the middle classes. However that doesn't mean the retail scene is becoming dull. Far from it. Short-term Pop-up stores and galleries in deserted shops are brightening up our high streets and malls. becoming more and more common. Frugal, yes ... dull, no!
Collaboration Nation: Corporations are seeking to meet their corporate responsibility objectives; schemes like Orange Rockcorps are encouraging teenagers to volunteer in exchange for exclusive rewards; brands like Frank Water are donating 200 litres of safe drinking water in developing countries every time you buy a litre of water; electronics retailers are making it easier to recycle your old electrical applainces and giving you incentives to buy new energy efficient ones in their place and even huge brands like P&G's fairy are getting on the band-wagon with the ‘Make A Wish’ promotion over Xmas 2009.
Crowdsource: The web enabled two-way communication and the rise of social networking, instant reviewing and instant interaction. Amazon's ratings system pioneered the feedback system and led to the good and bad ‘star’ ratings systems used on practically everything from holidays (Hotels.com & Expedia), to dining venues, to decisions about which car to buy. All this has unleashed a new wave of crowdsourced people power: vote for your favourite flavour (Walkers Crisps), name a new product (Vegemite iSnack2.0) and even develop its advertising (Peperami).
Transmedia: Communication is increasingly delivered through multiple media using online. Gaming applications are increasingly able to extend play by giving access to additional levels of complexity (Guitar Hero Music Charts, etc). TV is increasingly viewed through games consoles, computers and smart phones. Classically paper media such as newspapers are moving to the web and electronic books where they don't just offer digitised text .. but include the spoken word, atmospheric music, video clips, interviews with the author, special features and previews.
Energy Ethics: A resurgence in old behaviours ... like turning off unnecessary lights. Government sponsored incentives encouraging the replacement of older, less efficient insulation, heating boilers, cars, etc. We're already detected a boom in Energy Star energy efficient appliances which justify their high initial price ... with low running costs. Even the building industry has realised that energy ethics are cool with the emergence of the Passivhaus movement (buildings built to the ultimate standards of insulation, with home energy monitors and require virtually no heating)
Responsible Rewind: There are some signs that people are increasingly willing to pay more for products that will last. Local sourcing and home-growing are increasingly in vogue. We also anticipate a return to traditional methods - with more clothes appearing on washing lines, more people cooking from scratch, more make-do-and-mend, more DIY maintenance and repair, more self sufficiency and grow-your-own. It's not so much an anti-materialistic movement, as a return to the older, slower values of a less pressurised, less consumption oriented time.
Boomer Times: Boomers are getting old and their health is starting to fail. They enjoyed their good health, their good fortune; and assumed they were going to live (wealthily) for ever. Whilst they are still relatively young, their health and wealth are both showing significant signs of stress ... leading to a massive boom, not in leisure products, but in food and dietary supplements that protect against the major illnesses of old age, the loss of brain function that seems to hit as soon as they hit 50, and wealth management products that they need if they are to rebuild their ravaged finances.
Let us know if you found our eight trends enlightening. We will happily share the other seven with you and explore how a combination of our Rapid Recycling Workshop approach and our Trend Activation Workshops could help you explore what your markets might be like by 2020 ... identify what innovation platforms you should be working on, and start to generate the product ideas that will bring you commerical success in the decades to come.
Give us a call or send us email using the adjacent contact us link ...