Trendalytics’ latest “Consumer Intelligence Report” spotlights some of the broader trends shaping the lifestyle experiences of consumers — of where and how they spend their money. And this year, experiential trends remain at the top of the list.
The firm’s analysis showed that “immersible tourism” and “accessible adventures” as well as “feel good commerce” were the top three most notable consumer trends. Authors of the report said these meta-trends “will change your viewpoint on commerce opportunities whether it is identifying product whitespace, revamping the store experience, or changing the way you communicate with your audience.”
With the immersible tourism trend, wellness plays an important role. “With today’s travel trends, you don’t have to sacrifice your priorities just because you’re away from home,” the Trendalytics researchers said. “It’s estimated that the travel industry with a wellness component will reach $808 billion by 2020. Hotels, like Westin, are offering running concierge services, complete with guided runs, pocket-size route maps, and even New Balance gear to borrow. Other hotel chains providing customized perks, such as workout gear and fitness equipment, are Intercontinental’s Even, Triumph, Kimpton and Omni; Equinox is even debuting a hotel in 2019. Notable retailers venturing into the hospitality space include West Elm, Shinola and Abercrombie & Fitch.”
And as previously reported, outdoor activities also play into the immersible tourism trend. And this includes “weekend adventures” such as hiking and camping as well as trips for “urban adventurers” such as an Airbnb stay over in a new city to explore. And it’s all geared for thrifty Millennials, and also opens up opportunities for turning amateurs into outdoor guides and experts.
“Athletic and outdoor activities used to be inaccessible to casual fans without hefty investment,” authors of the report said. “Now the shared economy has made adventure activities accessible to the masses and opened up options for the weekend getaway. There is an influx of newcomers giving adventure activities a try, as well as rookies taking it further by becoming experts or certified.”
With “feel good commerce” consumers are thrifting, upcycling and refurbishing products as well as eyeing more sustainable goods and services. It includes a focus on materials and eco-friendly approaches to product development.
“Retailer Asos recently announced that it will ban the production of silk, cashmere, mohair and feather products due to the cruelty inflicted upon animals to obtain the materials,” Trendalytics stated in the report. “Manufacturer Tencel recently launched a campaign ‘Tencel feels so right,’ which is not only about the soft fabrication, but how using this cellulosic fiber obtained from wood pulp using recyclable solvents is the right thing for sustainability.”
Other notable trends include a focus on fitness and healthy living as well as healthy eating — including turning to vegetarianism and veganism, not only for personal wellness but to reduce environmental impacts.