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MARKETING AGENCIES ISOLATE THE TOP TRENDS TO WATCH FOR 2013 | December 26, 2012 (0 comments)
London, United Kingdom—As the calendar turns to each new year, there is always a host of predictions about what trends will impact business the most in the coming year, decade, or century.
Trendwatching.com has released its annual list of the 10 Top Consumer Trends to Watch for 2013. Among the ones most relevant to luxury jewelers are “presumers,” mobile marketing, and sustainability. And separately, J. Walter Thompson, the long time advertising agency that held the De Beers account, has come up with its annual list of 10 trends to watch in 2013 and beyond. No trend is created in isolation, says JWT, and as with every year, the trends emerging for 2013 are sometimes outgrowths of previous trends. Trends with any real significance can’t be assigned to just one year, says the agency.
Here are excerpts from both sets of predictions. The first 10 are excerpted from the Trendwatching.com list of the key consumer trends for 2013, and The Centurion’s analysis of how these trends can apply to luxury jewelry retailers and manufacturers. The rest were excerpted from J. Walter Thompson’s 10 Trends for2013.
1. “Presumers” refers to consumers who love to get involved with a product or service before it is actually available. Their involvement can range from active participation in helping to make the product a reality, to simply making sure they’re first on the list to buy a special item when it does become available.
Jewelers: tap into this trend with special designer events or pre-sales of limited editions.
2. Emerging2. Economic activity in emerging economies has until now been mostly about the emerging market catering to developed markets (“Made in China”) or brands in developed markets trying to break into emerging markets. Now look for emerging markets to focus on each other.
For jewelers, it means an ongoing increase in competition for goods.
3. Mobile Moments. A June 2012 survey of U.S. smartphone owners reveals that 63% of female and 73% of male respondents can’t go an hour without checking their phone, and consumers everywhere are looking to maximize every spare moment.
Jewelers: It’s critical to have an effective mobile marketing strategy to capture consumers constantly on the go. Consider adding some kind of m-commerce capability, even if it’s “order and pick up.”
4. New Life Inside. While Trendwatching.com’s take on this trend refers to products that can actually be used to grow something new, luxury jewelers always have been leaders in re-styling, re-making, and re-using. It’s simply a matter of amping up the marketing and putting a current spin on an existing service.
5. Appscription. Look for mobile applications in the medical field, from information to prescriptions.
6. Celebration Nation. Emerging markets are taking newfound pride in their native culture and symbols, rather that downplaying them in products they export.
Jewelers: Immigrants to the United States now try to retain their ethnic culture rather than assimilate. If you have an immigrant community near you, make it a point to cater to its special tastes and traditions.
7. Data “myning.” Data mining is an exploding segment for marketers. If there’s any doubt, just look at the value of Facebook. Consumers want companies to use data to provide a seamless service experience based on their own needs—but it’s a very fine line between offering a valuable service and freaking the customer out with aggressive services based on data mining, as anyone who’s had ads pop up with a topic from a recent private email conversation will attest.
Jewelers already know how to build personal marketing around a customer’s important dates and past purchase patterns. Take the next step by engaging with customers in social media and building an even deeper database. A customer is giving Facebook countdowns to their trek in the Himalayas? Wish them bon voyage, and remind them to make sure their jewelry is insured for travel.
8. Again Made Here. “Buy Local” and “Eat Local” have been trendy artisan movements, but it’s not just about the farmer’s market or craft show. A July study shows four out of five Americans are motivated to buy a product because of a “Made in the USA” label. Now, with rising labor costs and other concerns overseas, companies are re-thinking outsourcing. Trendwatching.com predicts the trend for “presumers” and “again made here” will feed off each other in the coming months.
Many luxury jewelry firms manufacture, or at least finish, in the United States. Luxury artisans from abroad who have American-based representatives or offices also are creating jobs here.
9. “Full Frontal.” No, it’s not a rising trend toward nudity, but rather than brands must be fully transparent and prove they have nothing to hide. An October 2012 study shows 69% of American consumers are more likely to buy from a brand that shows corporate social responsibility results, versus 31% who are motivated to buy just from hearing the company’s CSR mission and purpose.
For jewelers, it’s simple: Put your money where your marketing is! Don’t just tell people you care about the community, the environment, and the world. Show it in the form of promotions, events, charity donations, and even benefit merchandise; also be proactively vigilant about your supply chain, asking for proof that diamonds, metals, and gems are responsibly sourced.
10. Demanding Brands. In a corollary to the “Full Frontal” trend of a brand proving its CSR, brands will start asking consumers to do their part as well.
On a local level, jewelers already do ask customers to take part in their missions, whether it’s a JFC canister on the counter or a charity benefit sale. For your next event, don’t be shy about asking those who don’t buy to make a donation instead.
Next, below is the summary of JWT’s 10 Trends for 2013. This year’s list was compiled as a result of quantitative, qualitative, and desk research conducted by JWT Intelligence:
1. More play. Adults are realizing that just as kids need unstructured playtime to grow their imagination and provide balance to an overload of tech-based activities, so do adults need some unstructured playtime to pursue interests that don’t have specific goals attached. Unstructured playtime at any age fosters creativity and imagination, both of which are extremely necessary to compete in today’s world.
2. It’s a super-stress era. Adult life has always been stressful, but today it’s elevated to a whole new level. At the same time, there’s growing recognition of the very real financial and medical costs associated with high stress, and businesses are looking for solutions to help reduce it.
3. Intelligent objects. More and more everyday objects are becoming “intelligent,” but our interactions with them will soon grow more interesting and enjoyable.
4. Predictive personalization. As the ability to mine and refine data grows ever more sophisticated and cost-efficient, brands will increasingly be able to predict consumer wants and behaviors, and tailor both product and communications accordingly.
5. Mobile fingerprint. It is not breaking news that mobile is the most important next era of technology. Smart phones are poised to become almost everything from wallet to car keys to health care consultants.
6. Sensory explosion. In an increasingly digital and virtual world, brands will seek ways to amp up the sensory experience, such as Dunkin’ Donuts has done in Seoul, South Korea, bus advertising. A burst of coffee aroma floods public buses whenever the brand’s jingle is played.
7. Everything is retail. Since mobile technology means shopping is no longer limited to storefront or desktop, brands can—and will—get increasingly creative in where and how they sell their goods.
8. Peer power. The peer-to-peer marketplace is growing by leaps and bounds, especially in areas like hospitality, education, and transportation.
9. Going private in public. With the plethora of social media documenting our every move, rather than shy away from it, people are embracing their digital identity but also carving out creative ways to remain private.
10. Happy and healthy. A corollary to the trend of finding ways to reduce stress, the view that health and happiness also go together is becoming more widely accepted. A happy person is likely to be a healthier person, and in turn a healthier person is a happier person.