In this article, I talk about the 5 key influences that impact on global consumer trends. I showcase 10 of the key trends we have identified that are relevant to home and lifestyle brands for 2020-2021.
We are all aware that consumers are influenced by trend. Trends allow us as designers, product planners and merchandisers to create freshness within our offer. With an ever-increasing focus on home and lifestyle products both in social media and television, the management of trend within a product offer is more difficult and crucial than ever. There are so many trends to consider!
Markets have become increasingly dynamic and hyper-competitive. This means that businesses often don’t have the time to study nor manage trend as part of a commercial differentiation strategy. It is critical to make a prudent trend choice and to align it to your product development, brand values, and customer. In reality there is just not enough time and too many trends to interpret and understand for most businesses.
At MC&Co. we are passionate about trend interpretation. We take our many years of industry experience and help brands successfully and efficiently manage trend into a sustainable profit. Each year we research, identify, curate and study home lifestyle trend globally from both a social and product perspective. In 2019, we identify 24 important trends being exposed to consumers that are relevant for product planning and development in 2020-2021.
From an anthropological perspective, there are 5 emotional drivers that are reflected in these trends. These drivers enable us to filter trends into categories by applying filters. Are they classic or romantic? Masculine or feminine? Youthful or mature? These filters help us understand each trend as it relates to an underlying consumer.
The 5 Emotional Drivers are:
1. Nostalgia: Finding comfort in the past
2. Opulence: “The renewed interest in luxury and prestige.”
Grand spaces and elegant intentions are what this concept is all about. A look back at times past when bigger was better.
3. Grounded: “A desire to reconnect with spiritual values and unplug from the digital world.”
This is one of the most influential concepts
in design trends today. It is aspiring to be authentic and real.
Trends influenced by a grounded ideal include:
4. Escape: The fantasy of bringing your vacation home.
“I want to live my vacation every day” is the driving emotional force behind the escape influence.
5. Playful “A focus on frivolity over substance. A rebellion against seriousness in design.”
With an explosion of trend information, it can be challenging to understand strategically the trends that are relevant to your brand. Merchandise teams are more time poor than ever before. They are exposed to so much conflicting trend information. Identifying a trend is just part of the job, now you need to work to understand which one appeals to your consumers’ aspirations and hip pockets!
This is where MC&Co can help. As part of our curation and identification process we apply a scientific filter over each trend. We understand whether they are commercially viable, whether they are emerging or declining and how quickly. We can help home and lifestyle brands own a trend – which delivers you a well-executed trend aligned assortment. You get a seamless integration between merchandise, marketing, operations and logistics. Your consumers engage with and buy confidence and repetition.
To understand which trends for 2020-2021 are right for your brand and market position, get in touch for a tailored trend consultation based on your consumer insights. We will walk you through all 24 of our forecasted trends and help you determine which one is right for your consumers. This ensures you make a prudent trend choice and empowers your team to take qualified entrepreneurial product opportunities. Imagine the power of getting your whole team singing from the same score!
If you’d like to know more, Contact Us.