Connecting with Consumers

Connecting with Consumers:
Understanding the Value of Trends in
New Product Development
“My favorite things in life don't cost
any money. It's really clear that the
most precious resource we all have
is time”.
- Steve Jobs
Consumers report their
#1 priority in life is
having more time
Euromonitor: 2015 Global Consumer Trends Survey
CONVENIENCE
VALUE
&
CONNECTION
SENSORY CONNECTIONS
Fragrance
Color
Name
In Use
Experience
Story
Packaging
MARKET RELEVANCE
Consumer
Landscape
New
Technology
Price Point
Distribution
Demographic
Needs
Lifestyle
Trends
Branding
Point of
Differentiation
KEY DEMOGRAPHIC GROUPS
Silent Generation
Baby Boomers
Generation X
Millennials
Generation Z
Born: Pre-1946
Ages: 70+
Born: 1947-1964
Ages: 52 - 69
Born: 1965-1979
Ages: 37-51
Born: 1980-1995
Ages: 21-36
Born: 1996-2010
Ages: 20 - 6
10.5% Population
23.6% Population
15.4% Population
24.5% Population
25.9% Population
MEET THE MILLENNIALS
MILLENNIAL SEGMENTS
Millennial Moms 22%
Hip Millennial 29%
Gadget Guru 13%
Old School Millennial 10%
Clean & Green Millennial 10%
Anti- Millennial 16%
MILLENNIAL MOMS
MILLENNIAL MOMS
• NATURAL & SAFE
• Sustainability
• Impact on the environment
• The brand’s sense of purpose
• The cool factor
• Saves time
• Convenient
• Peer reviews
MILLENNIAL MOMS
• Natural & safe
• Sustainability
• Impact on the environment
• The brand’s sense of purpose
• The cool factor
• SAVES TIME
• CONVENIENT
• Peer reviews
MILLENNIAL MOMS
• Natural & safe
• Sustainability
• Impact on the environment
• The brand’s sense of purpose
• The cool factor
• Saves time
• Convenient
• PEER REVIEWS
FAMILY ORIENTED
CONNECTED FROM BIRTH
DEFINING GEN Z
• Range in age from 6 - 20
• 25% OF POPULATION
• Fastest growing consumer
group
• Target range for marketers is
11 – 16
• Most diverse and multicultural
generation
• 55% Caucasian
• 24% Hispanic
• 14% African American
• 4% Asian
WHAT DRIVES GEN Z
• Selective instead of Excessive
• CREATE VS CURATE
• Highly Visual
• Values Doing Instead of
Watching
• Looks to Influencers Instead of
Celebrities
• Shared Experiences
WHAT DRIVES GEN Z
• Selective instead of Excessive
• Create vs Curate
•
HIGHLY VISUAL
• Values Doing Instead of
Watching
• Looks to Influencers Instead of
Celebrities
• Shared Experiences
WHAT DRIVES GEN Z
• Selective instead of Excessive
• Create vs Curate
• highly visual
• Values Doing Instead of
Watching
• Looks to Influencers Instead of
Celebrities
•
SHARED EXPERIENCES
IMPACT ON RETAIL MARKET
• Have $44 billion in purchasing power a year.
• Even those too young to make purchases
themselves influence their parents'
buying decisions.
• Gen Z are digital natives so you must reach
them online
• Despite having a low income, Gen Z spends
the highest share online, about 9%.
TREND INFLUENCE
“Prediction is very difficult,
Especially about the future.”
- Niels Bohr, physicist
NEW + FAMILIAR
VARIETY
TREND MAPPING
Perspectives
PURE
REALITY
PIONEERING
SPIRITS
BALANCING
ACT
SMALL
WORLD
PURE REALITY
360˚ Well Being
an inside out / outside in health movement
Conscious Consumerism
our increased desire to do good
Transparency
a story to believe in
Pure Reality: Mood / Lifestyle
holistic + botanical + trusted
L t R:
Beauty Chef, The Springs LA,
Well Being App
Pure Reality: Home / Fashion
sustainable + conscious + pure
L t R:
.Viva Terra Home,
Warby Parker
Eyewear,
Good Hotel
Amsterdam,
Reformation
Clothing
Pure Reality: Food / Flavor
transparent + natural
L t R: Pineberry, Trader Joe’s: Daily Table, Thrive
Culinary Algae Oil
Pure Reality: Color
7544 C
579 C
407 C
2C
461 C
409 C
Pure Reality: Market Examples
Scent-Essence
Blushing Raspberry
Avon
Wholistic Beauty
Glow Lotion
Nature’s Gate
Sea Spray
Method
Clean Crisp White
Votivo
Pure Reality: Submission
Cactus Water
Aqueous, Green, Floral
Top:
Prickly Pear Water, Citrus Zest,
Desert Air Accord
Mid:
Magnolia Blossom, Mohana Rose,
Night-Blooming Jasmine
Dry:
Peach Skin, Dried Moss,
Himalayan Musk
Alternative Names:
Cactus H2O
Prickly Pear Water
Cactus Blooms
Desert Blossom
Essential Oil: Lemon
Trend Validation: Cactus Water
Flavor:
Beverage :
Prickly Pear Infusion
Cactus Water
Trend Validation: Cactus Water
Home Decor:
Living Walls
Fashion :
Reformation Water Savings
Trend Validation: Cactus Water
Fine Fragrance :
Paco Rabanne Invictus Aqua &
Olympea Aqua
Skin :
Laniege Water Sleeping Mask
Trends Come to Life
Cactus & Pink Pepper
Body Mist
Ahava
Honey Pear
Baby Wipes
Parent’s Choice
Prickly Pear
Fine Fragrance
Demeter
Cactus & Kale
Body Lotion
Pacifica