TRENDS 9
WAYS TO SPOT NEW TRENDS
As the new year arrives, leaders will be keen to know what 2020 has in store. If you can’t afford a future-gazing consultancy, fear not – Will Higham shares some tricks of the trend-spotting trade
Will Higham is a consumer strategist, speaker and founder of Next Big Thing. His book The Next Big Thing is out now, published by Kogan Page.
next-big-thing.net
01 / OPEN GOOGLE – AND YOUR MIND Obvious though it may seem, Professor Google is often your best starting point. Simply searching with the term “trends” within a sector can uncover great data. Explore the sites of research companies, consultancies and broadsheet newspapers for reports. The key is to spot – and keep an open mind about – the unusual. For instance, the noughties saw a rise in sales of record players and board games after years of decline. Some people dismissed this as an oddity, while others correctly spotted the early signs of the digital detox trend – a reaction against tech that is now creating opportunities for savvy firms in the entertainment and leisure industries.
02 / USE THE POWER OF THREE Consumers don’t start behaving diff erently without reason. They do so because an outside influence has altered their aspirations, expectations or needs. So take the following three-pronged approach: ● Study political, economic, social and tech (Pest) surveys/ data in order to detect what those influences might be. ● Observe consumers for indications of which influences are actually having an impact. ● Explore how these factors might change people’s needs. The way the most recent recession prompted a change in attitudes about value and gave rise to the concept of “peak stuff ” is a great example.
03 / LOOK BEYOND YOUR MAIN MARKET Not every trend will aff ect your firm’s target customer. But remember: trends that start in one area frequently spread to others. Does a trend in a diff erent sector or among an alternative demographic to your
target audience still chime with your target customers’ attitudes in some way or acknowledge a pain point of theirs? E-commerce, for instance, was first embraced by younger consumers, but its convenience meant that it quickly appealed to the traditionally time-poor 30-50 age group. Lego is one firm that successfully spotted trends in the film and video game industries and saw the opportunity to take its brand into whole new markets.
Eyes on the prize: Lego has collaborated with the film and video game sectors to develop products – including 2014’s The Lego Movie – that extend the brand’s reach into new areas
04 / GET COLDER Great trend predictors are dispassionate. You may not want a thing to happen – indeed, it may be bad news for your company. But if something looks like a trend and barks like a trend, you’d better get ready for it. In the 1960s, oil was in plentiful supply and no one
director.co.uk 11
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