As 2010 comes to a close and 2011 is on the horizon, there are 11 key trends to watch in the New Year, according to trendwatching.com.
The consumer trends forecast offers a positive outlook for 2011. Snagging the perfect deal via group- buying and flash sale sites and personalizing the consumer experience via social media and ecommerce are just a few of the trends to watch.
“Another new year, another roller coaster of threats and opportunities,” the trendwatching.com report says. “We tend to focus on the latter as, amidst currency wars and defaulting nations, there are more opportunities than ever for creative brands and entrepreneurs to deliver on changing consumer needs.”
Trendwatching.com is one of the world's leading consumer trends firms. It relies on a global network of hundreds of spotters and its trends are delivered to 160,000 business professionals in more than 180 countries.
Here are the 11 crucial consumer trends to watch, in no particular order:
Random acts of kindness
With the evolution and rapid spread of social media platforms, brands have a new direct channel to deliver acts of kindness to consumers.
In this day and age, consumers crave for realness and the human touch.
Brands sending a surprise gift to them, for example, could potentially be one of the most effective ways to reach consumers in 2011.
Urbanization
Urbanization remains one of the prominent trends in the coming decade.
Urban consumers tend to be more experienced and daring and not afraid to try out new products and services.
In short, consumers should go for products, services or campaigns that tailor to the specific needs of their demographic.
Pricing pandemonium
Mobile devices and social networks allow consumers to receive special offers and discounts from brands.
Mobile devices, in particular, allow consumers to find or receive deals right at the point of sale.
Brands should target tech-savvy consumers with promotions such as mobile coupons and discounts, online group discounts and flash sales.
Made for China
In 2011, a large number of Western brands will focus product releases for consumers in markets such as China, Brazil, Russia and India.
Western brands will also focus product releases in countries whose economies are exponentially growing.
Western brands such as Dior, Hermes and BMW have already capitalized on this trend.
Online status symbol
Trendwatching.com recommends brands supply consumers with any kind of virtual or real-world symbol that they can show their peers.
This includes personalized social media memorabilia and brand- related contests which award either virtual or real-world prizes.
Consumers will seek to display their symbols in all areas.
Wellthy
More consumers expect health- related products in 2011 to improve their overall quality of life, rather than just treating illnesses and ailments.
Products such as mobile health- monitoring devices, online health applications and health-related social networks will flourish in the coming year.
Social-lites and twinsumers
According to trendwatching.com, both of these types of online consumers broadcast, share and recommend products, purchases and experiences to friends and wider audiences.
Social-lites are consumers who consistently deliver information to a wide range of tech-savvy users effectively and seamlessly.
Twinsumers are consumers with similar consumer patterns and are valuable sources for receiving recommendations.
Social networks allow users to broadcast information with ease to a wide range of people. This being said, more brands should create engaging content that consumers want to share.
Emerging generosity
In 2011, generosity will continue to give.
Brands and wealthy individuals from emerging markets will be expected to give and donate, rather than just selling and taking.
This is targeted on a global scale, not just in their home countries.
Planned spontaneity
Expect to see consumers mass- mingle with friends, family, colleagues and spontaneous individuals in 2011.
Trendwatching.com believes the key to planned spontaneity for consumers is knowing where they are and what or who around them.
Geo-location has increasingly become a key feature of social networks and Web applications, such as Facebook's Places, Twitter's Locator and Google's Hotspot. There are also services like Foursquare, Gowalla and Brightkite.
Eco-superior
With the ever- growing desire for green consumption, consumers in 2011 will favor products that are not only eco-friendly, but superior to polluting incumbents.
According to trendwatching.com, brands should think of eco-superior products with excellent functionality and superior design and savings.
Owner-less
Services such as car-sharing and public- bike programs have re-emerged.
According to earlier findings from trendwatching.com, emerging economies are an important source of consumer innovations.
This, in turn, will have a global impact. Brands such as Rent the Runway and Avelle have shown that for many consumers, access is better than ownership.
More consumers are feeling comfortable with the idea of sharing and renting large, expensive objects.
"We’re also not saying there are only 11 consumer trends to track in 2011," the trendwatching.com report says.
"There are dozens of important consumer trends worth knowing about and applying at any given time of the year," the report says.
