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Trend Spotting: Industry Changes You Should Know in 2021

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The road to recovery began a year later, which no one could have predicted. Just as the promising Covid-19 vaccine holds hope around the world, leaders are discussing healing for their people, nations, and economies.

How did the pandemic affect consumer behavior around the world? Also, what do brands need to understand in order to plan ahead? How can they be fluid and creative to pivot to the new normal and stay competitive?

Future 100: 2021 will track 100 compelling trends and changes this year in 10 sectors: culture, technology and innovation, travel and hospitality, brand and marketing, food and beverage, beauty, retail, work, health and finance. Identify.

Presented in bite-sized capsules, Wunderman Thompson Intelligence’s annual report leverages industry expertise to translate information into brand insights. This is a quick look at what’s happening on the ground.

The home is where people are indoors to stay safe and wait for the blockade imposed to break the chain of Covid infections. We focused on elements that protect ourselves from health threats, political turmoil, and social unrest, and provide a sense of stability and security, such as calm colors and a warm space. The interior is becoming a sanctuary. And with a focus on compassion and optimism, a peaceful and reassuring color palette that improves mindfulness and intent has replaced the over-stimulating, large shades.

Quarantine is also the basis of live-action photography, but as adult animations such as The Simpsons and South Park continue to entertain fans, animators are moving forward to tell new stories for children and adults.

Star Trek: Like the Lower Deck, CBS’s Toning Out the News debuted last year. Fox is developing an animated spin-off series for the 1990s cult show The X-Files, and Netflix is ​​revisiting the Norman Lears 1970s comedy Good Times in the form of an animated series. Will Disney air in the summer? A series of 10 episodes based on the Marvel franchise. The global animation market is projected to grow from US $ 272.1 million (RM1.1 billion) in 2020 to US $ 473.7 million by 2026.

The pandemic stopped physical concerts and exhibitions, but the organizers used technology to present virtual events and visitors enjoyed a safe face-to-face experience. But the need to increase income sources is turning people back into physical gatherings. Last August, Virgin Money United Arena hosted a concert with an audience sitting on 500 elevated personal platforms 6 feet away at a venue that could accommodate 2,500 people.

Technology has taken sports to another level for fans. Not only can you watch the idols move, but you can now compete together in the virtual realm. For US $ 76,300, the Aston Martin AMR-C01 Racing Simulator can take you with Sebastian Vettel as you descend the parking lot. Adidas GMR Smart Insoles allow amateur soccer athletes to record their training skills and integrate them with EA Sports FIFA mobile games. Digital rewards await people whose kicks, shot powers, distances and speeds are measured in real life.

The car has undergone a bio-friendly makeover, and luxury brands are aiming for an organic, human-centered design. The concept of electric vehicles with soft, rounded edges, Hyundai Prophecy aims to create an emotional connection between humans and automobiles. Inspired by the Mercedes-Benz avatar, the concept car feels more like a living thing than a car and is designed to communicate in harmony with the environment.

Travel has been hit hard as borders remain closed, and industry players are looking for new ways to satisfy their wandering habits and desire to immerse themselves in new things. Luxury and exclusive destinations and elite travel solutions as luxury travel clubs are roaming the surge in demand from members who want to rent a hotel or private home, or immerse themselves in the outdoors far away from other tourists. Is at the top of the list.

An underground resort integrated into the landscape is an option to preserve the natural beauty and tranquility of the surroundings and to respect history and heritage. They provide a connection to the environment while protecting and protecting the important attractions of the environment in sustainable and heartfelt travel.

For the wider base of travelers, domestic destinations are good for just fleeing or taking short breaks. People are discovering the joy hidden near their homes and boosting the local industry. The hotel is rethinking facilities such as setting up workspaces and accommodate more activities in the room to attract guests.

Families spending their vacations together with trends that have become apparent in Asia in recent years seem to be prevalent in the West as well. From self-service and contact check-in to in-flight transactions and airport security screening, touchless travel is struggling to adapt and prepare for a comeback when the border finally reopens. Gives consumers confidence in hygiene standards.

Working together to make things better is a brand new focus that puts competition aside for greater profit. Fighting Goals Covid has brought together pharmaceutical companies to enable research and innovation, leading to the deployment of vaccines in much less time than expected. Generation Z, who believes that collaborative efforts are essential to drive change, expects brands to be standard.

Last year, the resale sector, driven by 64 million shoppers, grew 25 times faster than retail as a whole. According to San Francisco-based thrift shop Thred Up, the second-hand clothing market is projected to grow from $ 28 billion today to $ 64 billion by 2024. Brands such as Gucci, Burberry, Uniqlo and Stella McCartney are also available. This is a way to reuse and recycle, remove counterfeits and maintain resale value.

Ethics and accountability add value to the brand because consumers are responsible for the behavior of the brand. The brand may not have been morally or ethically responsible in the past, but now it is absolutely responsible, did they help? Founder Bhuj Morjaria.

Riccardo Bellini, CEO of WWD’s luxury fashion house Chlo, says that what the brand represents, its beliefs and values, is as relevant as its products and aesthetics.

As pandemics closed restaurants and forced people to eat, healthy eating as well as antibacterial packaging became a priority as people worried about cleanliness and hygiene. Being at home also produced many microplaners that surprised even themselves to make up for the income reduced or completely eliminated by the coronavirus, cakes, cookies, essential oils, soaps, candles, in their kitchens. Produced clothing.

High-end destinations offer creative options for diners who crave a personalized gourmet experience, regardless of cost. The Michelin-starred Costes served dinner on the Budapest Eye Ferris wheel, from which guests (from four to the cabin) enjoyed city views and a four-course meal. Paris Les Bains drained the underground pool, which was built when the luxury hotel was built as a bathhouse in 1885, and reused it into a unique private dining room.

Skin care has become health care as brands pack organic or foraged ingredients into lotions and creams. Beauty turned into health as women experimented with color, luster and sparkle, eliciting confidence from the imaginative, personalized and refreshing quirks. The women-led brand has begun dialogue and ideas about what the industry must do to promote inclusive beauty, black expression and intersecting feminism.

Considered to be the real voice to share product advice, Skinfluencers uses Tik Tok and YouTube to recommend products for knowledgeable Gen Z buyers. They are young, relevant and honest. As South Korea’s Yoo Yeon-seok, a former cosmetologist, told more than a million followers on TikTok, I don’t have a filter.

Influencers also have a presence on social media, broadcasting views on personal finance topics, from budgets to investments, credits, taxes, and everyday issues such as whether to buy or rent a car. .. This new kind of personal finance teacher is gaining momentum as Gen Z, who has been dismissed, finds a way from the stock market to entrepreneurship.

The unfiltered reality about pandemics is that people are tightening their belts and becoming more cautious about spending. Saving for a rainy day has new meaning, and even young people are looking at their purses. This conservative consumer trend means that brands must speak different languages ​​and adopt a new post-Covid approach.

This article was first published in Edge Malaysia on February 8, 2021.

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