Consumers bypass traditional brands for the next best alternative
Implications - In our current period of economic uncertainty, consumers are still buying things, but they are becoming more conscious of what they actually need and why. In all categories, they are in pursuit of the 'next best thing'. We coined this term 'Next Besting' in 2008, but we continue to see it play out in all categories, including fashion and technology where budget-friendly alternative products are breaking new ground.
Trend Themes
1. Next Besting - Consumers are in pursuit of the 'next best thing' in all categories, including fashion and technology where budget-friendly alternative products are breaking new ground.
2. Affordable Designer Collaborations - Fashion collaborations are hitting stores this fall, providing affordable designer pieces from Tucker for Target to the Simply Vera collection.
3. Affordable Eco-friendly Products - Eco-friendly products like the LG Remarq cell phone are being made of lower cost materials that are free of harmful substances, reducing the cost for consumers.
Industry Implications
1. Fashion Industry - Fashion collaborations and affordable designer lines changes the way we perceive designer clothes, making it more accessible for budget-conscious shoppers.
2. Technology Industry - Cheap eco-friendly products, such as the LG Remarq phone, gains popularity in the market, changing the way we consume technological devices.
3. Furniture Industry - Designer knockoffs like the affordable Togo Sofa paired with eco-friendly materials changes the way consumers view designer furnishings, and pushes furniture makers to create more environmentally friendly alternatives.
10 Featured, 88 Examples:
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Date Range:
Mar 10 — Oct 10
Trending:
V. Hot
Consumer Insight Topics:
