Expanding products into (often unrelated) markets for lifestyle integration
Implications - Companies are recognizing that more consumers want to be associated with brands so are expanding their lines to encompass products outside their traditional offerings. People are gravitating to products that help them reflect their brand loyalty and the lifestyles associated with those lines.
Trend Themes
1. Brand Extension - Expanding product lines to encompass products outside their traditional offerings in order to capitalize on brand loyalty.
2. Unconventional Product Collisions - By colliding two unconventional products, companies captivate consumers who are looking to try unique blends.
3. Branded Partnerships - Collaborating with other brands to create unique experiences and merchandise for loyal customers.
Industry Implications
1. Food & Beverage - Incorporating food and beverage into lifestyle merchandise to create unique offerings.
2. Fashion - Brands teaming up with designers to create limited edition merchandise and experiences.
3. Hospitality - Creating branded experiences for guests in hotels and other spaces.
