Why awareness of consumer trends and fads is critical to your business
Consumer trends represent the needs, desires, and beliefs that influence buying decisions—the values and attitudes that become ways of living—how people define themselves and create lifestyles. Fads, on the other hand, are fashions, colors, devices, and other things that are “in style” or “hot” for a moment, that strike suddenly and fade quickly. Brands should be aware of both, but how they use trends and fads will differ.
Fads, like viral memes and media, capture a moment well and can be used to inform short-term marketing efforts on social channels, making your brand cool and in-the-know. Consumer trends, on the other hand, stay around for the long term and helps firms see their products and brand positioning from a new perspective. Subsequently, companies can better understand and interpret the voice of the consumer and futureproof business strategies by predicting future purchasing behavior.