As we get to the end of a seismic year that has seen us deliver many changes, we thought we would give a glimpse of some of the areas that we’ll be talking about more in the year ahead.
People are shifting to shop more locally, supporting artisans, small business owners and experiencing hand crafted or one of a kind products. The movement of localisation is rooted in the emotional need for people to communicate and share wealth or favour with people who are part of their notional tribe.
In the food industry this trend adds a higher value with consumers because it is linked to quality, wellness, taking pride in heritage, ingredient sources and distinctive taste while supporting something very distinct from the world of overblown global conglomerates.
The theme is also filtering into the the travel and luxury industries with trends such as immersive tourism and one of a kind cultural experiences beginning to take the place of traditional ideas of what these sectors used to include.
By fusing together the wonder of travel with the opportunities of technology, more companies and brands are levelling up how people can experience the world we live in and the places we visit. Better technology across digital devices means travel and hospitality brands can look to new ways to enhance tourism and reach new customers, by leveraging groups such as the rising wave of gamers. For example Xbox is exploring virtual reality by reinventing traditional tourism campaigns, and encouraging their players to explore the scenery from their favourite games, offering something on top whilst enhancing that all important customer experience.
As humanity goes to war on waste and the growing threat of climate change, there is a new surge in efforts to make every sector of society more sustainable, and leading brands are at the forefront of finding new ways to help us all be more bio-positive and bio-adaptive.
In the beauty and wellness sector, brands are using their power as positive drivers of change with re-useable and re-fillable bottles becoming luxury and coveted items. This is coupled with lifestyle changes from their customers who are looking for brands and products that are more sustainable, reusing waste from other industries and cutting down where possible on single use plastics.
Education is key with sustainability, and traditional education curriculums are being re-written to incorporate how brands can grow while supporting a sustainable future.
Honesty and transparency are no longer seen by brands as being idealistic and unattainable values but moreover they are crucial touchpoints needed by customers to fully invest. With this in mind we have seen the rise of product traceability to reflect the customer’s need to know where a product is being produced, who it was made by and how it arrives – as well as where they buy it.
This is a movement that goes hand in hand with sustainability and purpose-based brands, who stand for something and infuse sustainability and ethical practises into their business models. In the food industry we are seeing a move towards low impact eating with developments such as technology monitored best-before-date food containers and banana leaf wrapped food, decreasing the 7.1 million tonnes of food that is thrown away each year, which can only be a good thing.
Please come back in 2020 for more insights on this level – plus of course our annual sector trends and forecasts. Wishing everyone a happy and prosperous year ahead – we anticipate big things to come!!