Here at 2cv, we like to explore...
In recent years, an incredible growing appetite for luxury consumption has arisen in the emerging economies of Brazil, Russia, India and China (the BRIC economies) and more generally in Asia and the Middle East. Luxury retailers are responding to growing demand for their products in emerging markets through dramatic international store-expansion strategies. It is predicted that 85 percent of all new luxury retail stores will be opening in emerging markets over the coming decade.
In November, Brand Learning will reveal the findings of growth drivers, a global study, which spanned over 900 survey respondents across 42 countries, as well as in-depth interviews with 70 CEOs and business leaders across companies including PepsiCo, Microsoft, Tata, HSBC and Pfizer, revealing the business strategies driving growth amongst the world's leading businesses. Brand Learning brought 2CV on board to help with the analysis of the quantitative element. With such a broad data set this is one of the more fascinating studies we've worked with and has proved to be a goldmine of insights.
At 2CV we make it our business to attend key conferences throughout the year, the most recent being the MRS Luxury Research conference which showcased a whole host of interesting presentations on affluent customers and luxury trends. It was a brilliant day, full of useful insight that built on our own experience and thoughts within the sector. Here is a quick summary of 5 key trends discussed at the conference that we think are going to be the most important for the industry over the coming year:
For years, the levels of trust people feel in government, institutions, the media and brands have been declining. Authenticity is now leveraged strategically, tactically and stylistically by brand owners and their marketing agencies in an attempt to make products and services less corporate, more honest, and more real.
For a few years now, authenticity has been a word and subject that has regularly featured on research briefs, in brand strategy documents, and been debated by consumers.
Ask a roomful of clients or consumers what authenticity means, and the diverse range of answers you typically get indicates it has become a rather confusing idea. It's important but now complex, and that complexity is often caused by the marketing industry and brand speak.
Kids are becoming more conservative and risk-averse today, often taking the 'sensible road'. They are determined not to succumb to financial doom. This theme came through strongly during the MRS Kids and Youth Conference 2015. And the evidence does indeed suggest a general downward trend for risky health behaviours such as drinking, smoking, drug use, and unprotected sex.
The rise and rise of the so-called Activewear trend has become widely acknowledged and is clearly illustrated through the launch of net-a-sporter; Kate Hudson's JustFab collection; Beyoncé partnering with TopShop and the number of pages in the glossies dedicated to the latest in Activewear. Activewear is that apparel niche that bridges style with function, think 'tracksuit meets cashmere', sexy gym wear and Liberty print Nike trainers. In the US, this 'niche' represents around 17% of the total clothing market and most high street fashion retailers in the UK are now doing it.
The next generation has well and truly arrived….and I'm not talking about games consoles. The oldest cohort of Generation Z, those born c.1995 or later, have now entered the workplace and many more are moving through their tweens and teens. Standing 11 million strong, and with their already significant buying power set to increase over the next 5 years, these "digital natives" represent a large opportunity for youth orientated fashion retailers. But only those who can understand, align and anticipate the needs and aspirations of this diverse group stand to gain.
Today, the terms Hispanic and Latino are used interchangeably when referring to the 53 million Americans who trace their roots, language and/or culture to Latin America or Spain.
But does it really matter to them? According to 2CV research supported by data from the Pew Research Center, it depends on country of origin.
- Behaviour Change
- Behaviour Science
- Buzz Monitoring
- Buzz Tracking
- Digital Natives
- Gender stereotypes
- Generation Z
- Health and Wellness
- Opening Ceremony
- Social Media
- Virtual Reality