Navigating Trends: Interview with Trend Forecaster, Louise Healy
I recently sat down to chat with Louise from The Better Trends Co to chat all things Trend Forecasting. It was the most interesting chat about why forecasting is so important, particularly for small business owners, and how you can use this to help move your business forward with the trends.
Louise began with some myth-busting – there are many misconceptions surrounding the word ‘trends’ and she emphasized how consumer trends are very different from fads
“When we use the word trend, it can feel a bit like someone has decided something and everyone has to copy it. But this is more about sensing the mood of people.”
-Louise Healy, Co Founder, The Better Trends Co
One crucial aspect we discussed was the impact global events have had on current consumer behaviours and appetite, leading to the emergence of new trends. Louise shared “The ambiguity, the uncertainty that we’re facing in our lives post-COVID, is really forcing some different types of behaviour”.
This uncertainty has sparked a trend called ”no-ccasions”, signifying celebrating moments without traditional occasions, resonating with consumers seeking joy in everyday experiences despite challenges.
Much of our discussion was focus on the “Have your Cake” trend, which represents the growing popularity of food trends as a response to the changing consumer landscape post-COVID. Louise elaborated, “Food brings communities together, it’s a space for sharing, and it’s very sensual. It’s fanciful! Why shouldn’t we have a beautiful, boutique donut from an amazing bakery?”
This trend not only reflects a desire for indulgence but also emphasizes the human experience and the emotional connections tied to food.
“Food brings communities together, it’s a space for sharing, and it’s very sensual. It’s fanciful!”
How can small businesses leverage these insights into consumer trends?
Here are some practical tips:
1. Knowing wider trends can help, but don’t feel you have to jump on a bandwagon.
Be true to your brand in what you offer and how you speak with customers, anything else will come across as inauthentic, and authenticity is one of the most important factors for today’s consumer.
2. Understand Your Audience:
Nothing beats thorough market research to understand your target audience’s needs, preferences, and pain points. You can use tools like surveys, interviews, and analytics to gather valuable insights.
3. The Better Trends Co makes trends accessible for smaller businesses,
as well as their full reports and consultancy service, they have fantastic displays at Top Drawer events, and share trends on their social media. I can vouch from my conversations with Louise that both she and co-founder Natalie are always happy to answer any questions you have. Warning: lively conversation may ensue!
4. Innovate Thoughtfully:
Use trend insights as inspiration for innovation, but don’t be a slave to them (see point 1!). Create products or services that align with emerging consumer preferences while staying true to your brand values and identity.
5. Listen to your customers and see if you can use feedback to inform and improve your business.
Build genuine connections with your audience through authentic storytelling, personalized experiences, and transparent communication. Show that you understand their needs and are responsive to their feedback.
In conclusion, my conversation with Louise from The Better Trends Co highlighted the intricate layers of trend forecasting and its impact on businesses of all scales. By understanding the deeper nuances of trends, staying connected to consumer sentiments, and embracing innovation, small businesses can navigate through dynamic market landscapes with confidence and relevance.
Understanding the impact of COVID-19 on behaviours and the emergence of trends like “no-ccasions” and the “Have your Cake” trend underscores the importance of adapting to changing consumer preferences and societal shifts. By leveraging trend insights effectively, small businesses can position themselves for sustainable growth and success in today’s competitive marketplace.
For more information on The Better Trends Co, visit their website here