A market trend is a behavior that at a certain moment gains strength and stands out. These trends can serve as a compass to find new opportunities and see if a product or service can achieve success. In addition, being aware of trends can also help you when making decisions and not make mistakes when taking one path or another. Jorge Zuñiga Blanco, a business expert and entrepreneur from Costa Rica, provides insight into why this makes a difference.
During generational changes or technological innovations is when more transformations occur in a profound way, which will mark future trends. Sometimes they start as a small agitation, but it is worth taking into account and taking advantage of them in your business. Knowing what the trends are in the world of marketing is important, especially since it is an industry that is constantly changing. There are means in that sense where technology plays an important role within the market, significantly modifying consumption patterns.
Most of the big brands tend to invest in research so that they can place themselves in the top positions when it comes to taking advantage of new trends. To identify and take advantage of them, you have to be able to meet the demands of the consumer and be prepared to provide valuable solutions in a short space of time. Pay attention to behaviors. Trends emerge and you need to be ready to take advantage of them.
Brands that declare themselves sustainable increasingly have more followers and new customers. Research shows that all market segments are taking advantage of the ecological edge: from organic food to fashion with recycled materials. Explains Zuñiga, “More and more people when buying take into account the environmental impact of the product they intend to acquire, especially among Millennials. It’s worth looking at this perspective carefully and looking for efficient ways to apply sustainable features to emerging brands and products.”
Thanks to subscriptions, it is possible to keep up to date on what is happening. There is practically everything you can subscribe to, so you have at home what you need quickly, from hygiene products, beauty, etc. You can forget about going to the stores, and this is a trend, so don’t forget to study if it can fit with your product or service.
Exchanges are valued more than possession. This concept is not that it is really new, but thanks to technology, it gained relevance. One example is Uber, which for many people was a novelty and a way to have profitability of their vehicle. Think about your business, invest in knowledge and stay tuned for opportunities.
An example of a megatrend are smart cars that are being developed by several leading companies, such as Google, Tesla, Uber and Apple. With a much wider scope, megatrends are “major social, economic, political and technological changes that are slowly formed and, once established, influence us for some time – seven to ten years, or more,” states Zuñiga.
See possibilities for change, which is one of the biggest challenges in companies. And today, more than ever, the ability to manage change has become a sustainable competitive advantage. Predicting new behaviors and market trends can make every difference in product development or campaign launch.
Be one step ahead of the competition. By realizing trends before the competition, becoming a pioneer in a new and untapped market, your company will achieve a huge competitive advantage.
Prepare to meet the needs and desires of customers. Changing features and attributes of products and services to add new benefits to consumers is not done overnight. By detecting trends, companies can prepare in advance and get better results.