December 4, 2013: How to Spot a Trend
My friend Steve Cooper is an entrepreneur (check out his Hitched website) and writes a regular blog for Forbes.com. He recently interviewed me about trends and becoming a trendspotter and I wanted to share a bit of what I told him here.
The Difference Between a Trend and a Fad
“Trends and fads are very hard to distinguish. They both start out the same-a new product or service that suddenly becomes popular and get a lot of buzz. The difference is a fad fades, quickly. A trend has some staying power. Some trends become less trendy and get incorporated into everyday life, like cupcakes.”
One “Surprising” Trend of 2013
“Male grooming. The numbers are startling. Men are buying “beauty” products and services-like nail polish, concealer, facials and pedicures-and they often spend more on equivalent services than women.”
What to Look for in 2014
“Pay attention to demographic shifts; they’re having a lot of impact. As the Boomers get older (don’t call them seniors), they will continue to have an outsize impact on businesses and industries (gyms for people over 50, etc.). But the real impact will come from Millennials, as employees, employers and consumers. Look for a surge in marriages in the next few years, followed by Baby Boom 3.0.”