I came across this really fascinating article today by Nellie Lide on the blog “Small Business Trends.” While her article may have been geared towards small business, I definitely see how these same trends she writes about can be applied to large businesses, as well. Consumer trends are something that doesn’t necessarily fit into one piece of the puzzle for business, but can be easily applied across the board regardless if you own a large department store like Sak’s or a fashion focused store like Scoop.
The five top shopping trends for 2007 that Lide lists are:
* Shopping as a Societal Force for a Better World
* Men Come Into Their Own as Shoppers
* Celebrity Wannabe Shopping - So In, So Easy
* Social Shopping
* Shopping for Temporary Ownership: The Shopper as Buyer AND Seller
As I read through each one of these trend forecasts, I couldn’t help but nod my head in agreement.
Shopping as a Societal Force for a Better World: This is one trend I have been speaking much upon lately here on our beauty, fashion and main blog. Lide mentions the RED program, a program launched by Bono to fight poverty, which you really are seeing everywhere (Gap, Apple, etc.), but there is now also an extension of this program called (Product) RED, whose purpose is to raise funds to eliminate AIDS in Africa. Businesses involved in this are Emporio Armani, Converse and Motorolla. We’re seeing businesses collaborate with charities to fight Global Warming such as Diesel and Lancome, and those going green to lessen the stress on our environment. Business cannot grow in a vacuum and many are foreseeing their growth by getting involved in projects that matter most to their consumers.
Men Come Into Their Own As Shoppers: As Lide noted in her article, this past Black Friday men outspent women by 38.1% even though there were more women out there shopping in force. Men’s spending habits vary so differently from women and brands that used to focus on solely targeting women are now beginning to understand how to get into a man’s wallet. Men are more technology, design and gadget focused, while women are more about style and functionality. Many times men put emphasis on price (the more expensive the better) while women focus on value. Men, being visual creatures, are more likely to respond to ads such as the one mentioned by Lide regarding the expensive Bugaboo stroller. The stroller was designed with chrome and big wheels and the ads focused on engineering and design. Bugaboo is just one of many companies that used to solely target women and are beginning to set their sights on men and men are responding.
Celebrity Wannabe Shopping: This is certainly not a new trend, but one that appears to be increasing ten fold over the past year or so. We can see it through celebrity fragrance launches and celebrity fashion brand launches. Since living the life of a celebrity is so far out of reach for most of society, we strive to find ways to wear what they wear and buy what they buy to vicariously live that lifestyle through affordable methods. Shows like The Look for Less have been popping up on Tv and stores that sell designer brands at affordable prices like Marshall’s and TJ Maxx have been cashing in on this trend for some time. It’s certainly not a trend that is going to go away as our society continues to be obsessed with wanting more and living a lifestyle that may be otherwise unattainable.
To read more on Lide’s take on shopping trends for 2007 be sure to stop by the Small Business Trends Blog and read her article. Do you think these trends fall in line with what we are seeing so far for 2007? If you have a trend to add, please be sure to post it in the comments.
Posted by Shannon Nelson on February 28, 2007 12:09 PM
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