Thursday, 31 March 2011

Review: trends workshop 24 March


Recently Zoe Phillips and I have been collating all the trend information that we have gathered to identify what we think will be the 2012 trend directions. Why were we doing this? We were invited by Interior & Lifestyle Futures to deliver a short course on the impact of trends and consumer behaviour to a group of businesses from the interiors and lifestyle cluster. They saw the huge benefit to their business in understanding how to identify trends and how to target their customers with this information.

Trends board by Nest Creates

The morning started with an explanation of the different types of trends, what they are for, how to keep track of them year on year and ended with an interactive exercise where everyone tried to identify which group they belong to. This certainly got people talking! Once we identified how and why we follow trends, we discussed the importance of being there at the start of a trend to maximise the opportunity chartered through the 'profitable retail versus consumer behaviour' curves and we showed the delegates how to filter the research by profiling their customers.
Trends seminar 24 March 2011

After lunch, Zoe presented her interpretation of the direction for trends in the coming year. Her key message, throughout, was that the British consumer is much more inward-looking than in 2010. This indicates there is less of an interest in the global market place and a greater purchasing commitment to sourcing local. The whole country is of a similar mindset after the economic crash, focussing on craftsmanship and provenance over price. She set out four trends in which the reoccurring theme of skill, craftsmanship and keeping the money in Britain to aid recovery from the recession was featured.

Feedback from some participants on the day

"To be in business without all the tools to know your customer and market, limits your ability to forge ahead in front of your competitors to new markets" Peter Wright from Strata Orangeries and Conservatories

"Excellent day, a fantastic thought evoking presentation. I've taken away a lot today" Rosie McLaughlin & Wendy Gao from F&L UK Ltd

"Intelligent and thought provoking - it will certainly help me with planning future directions" Russ Bedson from Direct Salon Suppliers Ltd

"Interesting, fun and informative – a great day!" Hannah Bates from Hannah Jewellery Designs

To find out more about Kate and Zoe please visit Nest Creates and their blog. To keep up to date with Interiors & Lifestyle Futures workshops and events please go to: http://www.ilfutures.co.uk/