The old saying goes, “may you live in interesting times” – and whether it’s a blessing or a curse, we truly are living through times of rapid change across both business and culture. Categories that were once seen as stable are being upturned by changing consumer behaviors, the delay or decline of life-stage triggers such as marriage or home ownership, and disruptive new ways of shopping. The way consumers expect to interact with brands and categories is also rapidly shifting as consumers become more empowered than ever, with everything from ‘super-fan’ communities, to UGC (user-generated content), to social media conversations becoming as meaningful as brand-led communications and experiences.
Given this increasingly fast-moving category and consumer landscape, it’s no surprise that demand is higher than ever for foresight that helps connect the dots between what these shifts mean and where forward-looking opportunities exist in the market. With an immense number of trends to keep track of, and large amounts of primary research and syndicated data to sift through, it’s easy to be overwhelmed by the challenge of staying ahead of the curve, sorting short-term fads from deeply rooted consumer shifts, prioritizing opportunities, and giving clear guidance on what emerging trends mean for your brands and categories.
A multi-method approach to rapid opportunity spotting, TrendLAB is perfect for when you have a particular category/sub-category or need state you want to understand more about. Designed to give clarity on a particular area of focus, TrendLAB combines data and insights from social analytics, category experts, and early adopter consumers to keep you ahead of the curve and give a concise picture of:
- Changing consumer needs
- Rising challenger brands and disruptors
- Emergent discourses
- Evolving benefits
TrendLAB will keep you ahead of the curve
The core TrendLAB offering triangulates different data sources to pinpoint early signs of opportunity within a defined territory:
- IDENTIFIES potential trends: Using organic social data from consumers’ publicly available conversations and posts, we compare current and historical conversations to identify consumer shifts in topics/brands and pinpoint what influenced that shift
- VERIFIES growth opportunities: Tapping experts and influencers relevant to the topic or category, we explore consumer-led shifts to ensure these trends are meaningful and are being driven by macro changes in discourse and demand
- EXPANDS on ways in: We recruit early adopters who are already exhibiting the behaviors, beliefs, and expectations identified – and are fulfilling them via ‘hacks’ and ‘work-arounds’ within the category or have sought parallel solutions from other categories. Our learnings here add inspiration and explanation around opportunity sites for growth
How to make the most of TrendLAB?
TrendLAB works best when focused on opportunity spotting within a defined category topic/sub-topic – and when clarity on a path forward is required within a matter of weeks. Focused on shifts in wider discourse, emerging opportunities, and evolving benefits/behaviors, TrendLAB delivers a succinct report focused on opportunity platforms for growth.
Is TrendLAB right for you?
- Do you have unanswered questions around where your category is going?
- Are there specific hypotheses on the table you want to prove/disprove?
- Are you seeking emergent benefits to fuel innovation and messaging?
- Is your core audience aging out of the category? Are you concerned about relevance for the incoming cohort?
Contact us to learn more about how TrendLAB can speed you towards clearer direction on future opportunity spaces and growth areas.