Ad giant JWT has done a year-end forecast for the past several years and has just released their thoughts on what 2010 will bring.
Here's a glance at the 10 trends they believe will shape this next year.
Searching for Stability
While many indicators point to the beginnings of an economic recovery, consumers will continue to exercise restraint until they see more clear, dependable and closer-to-home signs of stability. Unemployment lifting will be a key barometer for consumers. (Example: People are still delaying big-ticket purchases.)
Reading the Fine Print
Consumers will be working harder than ever, putting more time and energy into finding good values, reading the fine print and learning the ins and outs of nutrition, environmental impact and ethical business practices. (Example: As banks, airlines and other ailing service industries impose a complex raft of fees and conditions on customers, failure to pay close attention will be costly.)
While manufacturers and retailers have become increasingly transparent in recent years, legal requirements and competitive pressures will force fuller disclosure about everything from ingredients and calorie counts to carbon footprints and sourcing. (Example: Walmart is working with its suppliers to develop a sustainability index for all its products.)
The Devil Wears Packaging
As the eco spotlight focuses on the environmental costs of packaging, brands will increasingly switch to bottles, boxes and other solutions that reduce, reuse, recycle, remove and renew. (Example: Kenco Coffee in the U.K. recently launched Eco Refills, which it says use 97 percent less packaging than its glass jars.)
It's BIC, and It’s Bigger Than Ever
The vaunted BRIC emerging markets are now down to BIC—and while developed nations remain hobbled by the financial crisis, Brazil, India and China are emerging stronger than ever, both economically and politically. (Example: As the appetite for luxury in the developed world wanes, it’s on the rise in China; in October, dozens of French luxury labels, including Christian Dior and Chanel, launched a Web site <http://www.ccolbert.fr/> to promote their brands in the region.)
Products designed for emerging markets are increasingly filtering into the developed world, where consumers are welcoming them as cheaper and simpler alternatives to existing choices. (Example: India’s Mahindra & Mahindra is gaining market share against John Deere, offering suburban lawn-owners in the U.S. a lower-horsepower tractor at lower prices.)
Retooling for an Aging World
As the world’s population grows older than it’s ever been, watch for a proliferation of products and services that cater to this demographic as they strive to live independently for as long as they can. (Example: Thermador has designed a glass cooktop that automatically shuts off when cooking is completed.)
Life in Real Time
The Web is evolving into a constantly updating stream of real-time information, conversation, memes and images. This is creating an increasingly mass culture and shifting perceptions of “current,” moving modern life into the “now.” (Example: During the World Series, the Huffington Post created a real-time hub that collected the Twitter feeds of baseball writers, Yankees mavens and Phillies commenters.)
With more location-based services and advanced mobile and mapping technologies hitting the market, the conversation will become as much about “where I am” as it is about “what I’m doing” and “what’s on my mind.” (Example: Foursquare, a gaming app, uses geo-tagging technology to help users find and share bars, restaurants and other venues with friends.)
The ongoing shift from words to images will accelerate, and we’ll see increasingly innovative ways to explain and illuminate complex topics. (Example: The animated online short “The Crisis of Credit Visualized <http://www.crisisofcredit.com/> ” blends storytelling, journalism and analysis to make a complex topic easier to grasp.)
If you'd like to read about each trend in detail, you can purchase the full report by clicking here.
Here's what I am wondering…which of these trends do you think will have the most impact on your business in 2010? And…what are you doing to maximize the opportunity?
Small side-note on the Kenco item: they reduced the weight of the packaging with 97% (paper versus glass), not sure if that really stands out as much as the whole ad will have you believe (and it’s only mentioned at the end of the commercial in – indeed – the small, fine print ;-))
We plan to keep visualising our information even more coming year, thanks to the software program we are using more and more: ScreenSteps Desktop and ScreenSteps Live (we are even writing our Installation Manual in/with it, where ScreenSteps Live enables instant cooperation/interaction between us and our editor).
Another trend I can think of is more and more “cloud” software programs for daily business tasks – such as online bookkeeping/accounting programs etc. Taking care of business “on the run” will be on the increase no doubt
Karin H. (Keep It Simple Sweetheart, specially in business)
Nice! Succinct view on the ‘megatrends’ for the next decade. Liked in particular the Location Based observation. Knowing where one is in relation to others and other enterprises could be the next big marketing battleground. Location, Location, Location!!!
Thanks for summarizing the trends for us.
The visual fluency trend will certainly have a great impact in e-commerce, as online retailers adopt clearer and more interactive ways to display the merchandise and/or make suggestions in terms of product usage.
– Daniel Faintuch
Of course, the concern is — will we be over locationed by the end of 2010. There are very few people whose location is of interest to me 24/7.
And I am pretty sure most will say the same about me. But there is so much good in the concept of location based social media — it will be fascinating to see how it evolves.
Very true…social media is bringing all of our senses (wonder how they will trigger smell)to the marketplace. Good for retailers and for buyers!
What do you foresee is the downside of all of this “doing business on the fly” that we’re being offered?
Down-side (based on personal experience doing research for two whole months before deciding which online CRM/autoresponder program to go for): hypes around new products and therefore having to import all data again and again and again 😉
(We didn’t have to do that though, most of the programs we researched offered trials with either set date or small import options.)
Visual fluency I can say is a challenging one to open up the New Year’s more of exciting competition in the business which also works out every business to keep improving and maintaining good service to people especially along with the need for search engines. Creating deep, relevant and yet real-life contents can definitely strike every reader’s heart the more they can relate to your situations and I think it always stays the best magnet to keep them reading while they can also have these chances to improve their lives because of your tips.
Good collection of trends for 2010. But at this moment, recession has really pushed me back. Once this is over, I will be like a bird. Only trend that I want to see now is economic improvement.
You are certainly not alone in that sentiment!
Re Kenco – that’s 97% WEIGHT less than its glass jars, not 97% of packaging. It’s in the small print in the ads, if you pay attention and have good eye-sight 😉
When the economy chaged and lines of credit started drying up by all manufactures the trickle effect got us all
While manufacturers and retailers have become increasingly transparent in recent years, legal requirements and competitive pressures will force fuller disclosure about everything from ingredients and calorie counts to carbon footprints and sourcing.