Trendwatching.com, one of the world’s leading trend tracking companies, is renowned for monitoring global trends, insights, and business ideas. Drawing insights from hundreds of trend watchers across more than 90 countries, the company publishes in 9 languages and shares free trend newsletters with over 200,000 subscribers. Trendwatching helps marketers, CEOs, and researchers innovate and develop new experiences and services. According to Trendwatching’s trend report, here are the 10 consumer trends that defined 2015 and offered significant opportunities for entrepreneurs:
1. Instant Skills
Consumers driven by digital narcissism are no longer satisfied with merely acquiring or showcasing new things. They seek the satisfaction of creating or achieving something themselves. Helping consumers accomplish something with their current skill levels has become vital. For instance, tools like the Hexo+ drone allow amateur filmmakers to produce professional-quality footage, and Instagram’s ready-to-use filters can transform anyone into a photography artist.
2. Fast-Laning
The dislike for waiting in lines has given rise to a preference for fast-track services. Brands are increasingly catering to time-pressed consumers with expedited services. For example, Taco Bell and Starbucks introduced mobile apps enabling customers to pre-order, pay, and pick up their orders without waiting.
3. Fair Splitting
Mobile wallets are rapidly gaining popularity, enabling not just payments but also cost-sharing. For example, BlaBlaCar allows travelers headed in the same direction to share rides and split costs. Similarly, Starbucks processes seven million mobile payments weekly in the U.S., and Apple’s Apple Pay registered over a million cards within three days of its launch.
4. Internet of Sharing Things
The Internet of Sharing Things trend combines the Internet of Things with the sharing economy. Products like BitLock, a smartphone-controlled bike lock, make bike-sharing within cities more accessible and convenient, pointing to a future of shared, interconnected devices.
5. Branded Government
In the “Branded Governments” trend, brands step in where governments fall short, offering functional benefits to consumers through social responsibility initiatives. For example, in West Africa, the Easy Taxi app partnered with Dettol, a cleaning product manufacturer, to train taxi drivers about the Ebola virus.
6. Post-Demographic Consumer
Traditional demographic factors like age, gender, and income are becoming less relevant in shaping consumer behavior. Consumers, particularly younger ones, are acting independently of their demographic groups, embracing innovations more swiftly. Brands need to continuously monitor the market and adapt to these evolving demographics.
7. Currencies of Change
Consumers now expect brands to reward them for their actions. Smart devices and apps provide opportunities for this. For instance, Russia’s Alfa Bank rewards physically active customers by tracking their movements and offering higher interest rates on their bank accounts based on their activity levels.
8. Sympathetic Pricing
Consumers value brands that demonstrate empathy and understanding. For example, during the pro-democracy protests in Hong Kong in 2014, the South China Morning Post temporarily made its subscription-based online content free.
9. Robolove
The rise of robots gained significant momentum in 2015. While the implications for the job market remain uncertain, brands are leveraging robotics to enhance customer satisfaction. The evolution of robotics will continue to shape the future of consumer interactions and brand positioning.
10. Brand Stands
According to research, 73% of millennials believe brands should express opinions on global issues. Authenticity and honesty resonate with consumers, leading to increased brand loyalty. For instance, Pantene in India released a viral video critiquing the unrealistic beauty standards promoted by beauty products.