Wednesday, October 14, 2009

Innovation and Consumer Trends

A recent report completed by BBDO and Proximity Canada trendspotters believe consumers will focus on affordable self-improvement in 2010. Their 10 key predictions are summarized below:

* Smart is cool: Intelligence will beat popularity or attractivness
* Frugalista power: Comparison shopping and hunting for deals will become a sport among consumers
* Less is more: Consumers will seek out products with longevity.
* IMBY (In my Backyard): Local products, and for national brands local marketing strategies, will be critical.
* Consumerpreneurs: Consumers will participate in the economy by making money from what they currently possess or create.
* The new eco-no-me: Brands could once get by simply by being "green." Now consumers will look for products with immediate personal benefit that just happen to do so good.
* My Digital Brand: personal videos, pictures, gaming scores, opinions, and outbursts have spawned "digital fame." BRand status will go to those most viewed, followed or talked about.
*Hyper "On:" Marketers who want to engage the consumer will need to ensure someone can respond to him or her right away.
* "A Pro-Am World" Professional-grade products such as power tools will continue to gain traction.
*Word of Mouse" More consumers will research a purchase or seek an opinion online before buying."

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