September 18, 2019
Spotting trends and figuring out how your brand should respond is one of the most exciting parts about marketing. Here are five marketing trends that speak volumes about today’s consumers.
1. Living Luxury
Young adults are choosing to “live” luxury rather than own it. Instead of physical possessions, more are opting for high-end, memorable experiences like exclusive vacations and unique dining. Millennials and Gen Z will soon have the highest spending power so it’s important for brands to align with their interests and priorities.
2. More Video
Over 50% of consumers prefer video over other forms of brand content, per a recent Hubspot Content Trends Survey. In fact, 52% say watching product promos instills them with confidence when making purchase decisions. If done well, odds are good the content will be shared as 70% of consumers have shared a brand’s video on social media.
3. The Rise of AI
AI and chatbot technology are already commonplace, and analysts predict AI will be in almost all software products and services by 2020. While some view AI as a threat to privacy, Millennials and Gen Z recognize the benefits and welcome its advances for work and play.
4. Nostalgic Marketing
Consumers are enjoying blasts from the past in movies, TV and music. Marketers can connect with consumers thru retro-style campaigns and products. It even works for sharing brand history if done in a compelling way. Nostalgia can humanize brands and strengthen consumer trust.
5. Veganism Takes Root
The popularity of veganism is skyrocketing, and food brands must look at it as a mainstay. It’s now a multimillion-dollar industry, but the audience is discerning so products must be authentic to do well.
Brands must be agile and continue to evolve. Those that can keep up with cultural and consumer change are the ones that will stay on top.