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BuckheadFunds > Marketing > Trends that brands should keep tabs on for the rest of the year

Trends that brands should keep tabs on for the rest of the year

News Room By News Room August 22, 2023 4 Min Read
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Inclusive exclusivity. Distorted reality. Pop nihilism.

No, you didn’t hit your head. Those are just a few of the trends that Horizon Media predicts will influence the rest of this year, per the second volume of its Top Trends 2023 report. The report is based on the beta version of the agency’s Cultural Calculator, which relies on survey research, social media tracking, and more to identify the scope of a trend, according to Maxine Gurevich, SVP of cultural intelligence.

Horizon identified six trends altogether, including a curiosity for sports among Gen Z, demand for democratized healthcare, and a yearning for “moments of wonder” to combat heightened anxiety and depression. Here are a few takeaways to keep in mind.

Commoditizing community: Exclusive and VIP experiences are looking different these days “as people make belonging an integral aspect of the luxury experience,” according to the report.

Time spent in relative isolation, widening social and economic gaps, and content like Succession “villainizing” the elite could be some contributors to the shift.

For brands, that means some might have to shift their approach to VIP experiences and rewards, considering 62% of young US adults who Horizon recently surveyed prefer to buy a product or service because it makes them feel a sense of belonging to a community.

“This idea of exclusivity is being redefined,” Gurevich said. For instance, she said some traditional luxury brands are tapping into subcultures and fandom communities. The report points to Moët & Chandon’s recent collab with streetwear designer Just Don on an NBA-inspired collection.

“I think that is one of the great ways to help people feel like they have access to things, and they’re willing to dish out the money, whether they’re part of the 10% or not,” she said.

Fake out: Generative AI has helped create a world where “reality is up for grabs” and “increasingly, imitation rules,” Horizon found.

  • For evidence, look no further than the rise of AI-generated songs and voices, or dupe culture in fashion.
  • Horizon’s recent survey of adults between 18 and 34 in the US found that the majority are more excited than skeptical about purchasing dupes.

Brands should “tread lightly” here, Gurevich said, noting that brands who choose to use things like deepfakes in campaigns should make it clear that they’re doing so. “Bring [consumers] in on the joke versus using it against them,” she said.

Everything is awful: “Things are looking bleak,” the report points out, perhaps unnecessarily. “But there’s fun to be had amid the fear.”

  • People are embracing “pop culture nihilism” as a way to cope with dark times, with 40% of US adults finding apocalypse-themed content especially entertaining these days.
  • More than half of respondents think the best way to deal with the stress of the world is to use dark humor to laugh about it, according to the survey.

Brands “need to” get it on the joke, Gurevich said. “If they’re pretending like life is wonderful, then people aren’t really going to buy into that.”

Read the full article here

News Room August 22, 2023 August 22, 2023
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