May 2010 Consumer Trends Focus on the New Expression of Status

One of my favorite resources for overall trend information is Trendwatching.

Although they focus on consumer trends, we are all consumers and the trends they feature here are a precursor to how purchasers and buying centers within the industrial world will be seeing the world.

This quarter's trends are:

  1. Bigger and Better: Consuming the most and the most expensive.  No middle of the road with these consumers.  If they have it, they will flaunt it.  Don't forget about the global marketplace.  China and India like to consume as much as the West.  This is a terrific niche opportunity for those companies that are in the luxury business.

  2. Generosity:  Humans are a funny animal.  If the economy is down and you can't flaunt your cash with cars, furs and gold - then be generous and flaunt THAT.

  3. Greener and less consumption: Green is still in and, following in its footsteps is the idea of unconsumption -- consuming less.  Focus your new product and service development in areas where consumers can feel like they will get many uses out of what you offer.

  4. Being in the know and having skills is hot and trendy.  This trend gives whole new meaning to "who you know" being more important than what you know.  The idea is to be included in the inner circle of trends, tools and resources and then lead other people to the goodies.  Another extension of this trend is brands, products and services that help your audience build their skills and expertise.

  5. Connectivity as a trend is on the heels of being in the know, being part of the inner circle.  Relationships and knowledge is built and shared between communities.  Products and brands that help people connect and build their relationships will do well in the coming months.

Read more on these and other trends in Trendwatching's latest report.

Source: One of the world's leading trend firms, sends out its free, monthly Trend Briefings to more than 160,000 subscribers worldwide.
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