Leah Hunter — 27 October 2008
The Economic Tidalwave Brings Trends. (Also, lipstick. Beachcombers befuddled.)
Friend and fellow brand strategist, Matthew Fenton, just wrote an excellent blog about what brands can do to surf this economic tidal wave. I come at the question from a slightly different angle – looking at what consumer trends will be on the upswing as things get tighter. (Opportunities, people! The glass is half full.)
Here are a few trends I see:
- All things nostalgic – These are objects and experiences that remind people of happier, simpler times. (Whether or not such a time ever actually existed.) Based my gut—and on interviews I conducted this week with high-level restaurant-industry management and insiders—I predict that this will include things literally warm- and or fuzzy-- though the latter, obviously, does not apply to food. Think: Textiles with softer textures. More organic, round shapes in home furnishings. A continuation of the handmade trend that drives sites like Etsy. Comfort foods like soup and mac n’ cheese.
- Bargain beauty – Low-cost beauty items have been a loose economic indicator since World War II. Even the New York Times noted, when times get tight, lipstick sales go up. People need small pick-me-ups, and self-beautification is one of the simplest. I'm buying nail polish stock now.
More to come. Stay tuned...
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