Trends to watch as work and life change radically
ONE of reports I look forward to reading every year is the future 100 trends and changes to watch. Put together by global marketing communications agency Wunderman Thompson, it is a wonderful analysis of some of the fashions and developments that will affect every aspect of our lives from culture to food and drink, and from health to the world of work.
The ideas on show stimulate thinking about how the world is changing and I always used these reports to challenge entrepreneurship students on whether they could develop any new businesses from these trends.
This year’s report is no exception and while I cannot discuss all 100 trends covered this year, I have chosen 10 that I feel capture some of the changes that could have an impact on our work, play and homelife over the next few years.
The growing importance of diverse creators has led to calls for authentic representation in advertising from those under-represented in the creative industries. This is driving a wave of brand collaborations with marginalised creative talents, which is unsurprising given that two-thirds of consumers are more inclined to buy from brands that speak out on issues of equality and inclusion.
Many are now predicting the return of the artisan economy as disillusioned workers are ditching their jobs to become bakers, cheesemakers, chocolatiers, jewelers and woodworkers. With websites such as Etsy making sales of such products far easier, it has been estimated that two out of three new jobs in the USA are now being driven by this artisan wave.
As the cost-of-living crisis bites, some supermarkets have stepped up to support their customers. For example, Iceland has offered its supermarket customers interest-free loans and it is expected that other brands will do more to help their most vulnerable consumers, which in turn will help them demonstrate their community values and drive long-term loyalty.
As we have seen from the entries to this year’s Start-Up Awards, “inclusivepreneurs” are devising products and services, shaping a new generation of businesses, designing with (and for) the unmet needs of their own communities. As a result, other businesses are collaborating with them by taking them on as suppliers or even investing in their businesses.
With the pandemic having triggered a 25% increase in anxiety and depression worldwide, fitness brands are going beyond addressing physical activity to cater for emotional health, possibly changing the whole concept of fitness for the future.
Given the success of the BBC programme The Repair Shop, it is no surprise that, with inflationary pressures on everyday lives, more are turning to the “make do and mend” approach to not only save money but also to address the fast fashion trend that has significant environmental impacts. As a result, more high-street stores are likely to bring repair services to the mass market via new in-store options.
While many workers felt that they were constantly “on” during the pandemic, with calls outside normal works hours the norm, it also resulted in an increase in asynchronous work – working different hours to colleagues. Some have suggested this more flexible approach, which allows a greater balance between work and home, is as productive as working normal hours and will become increasingly accepted by employers.
As many people leave their jobs in their 50s, they are looking not at retirement but “rewirement” which encompasses aspects of people’s lives beyond the financial. Life and work have taken on a whole new meaning after the pandemic and rewirees are reassessing their priorities, rediscovering themselves and dedicating time to their passions and their families.
One of the biggest trends in recent years has been the growth in businesses catering for accessibility and inclusion. With more than a billion people worldwide estimated to experience disability, there is a major opportunity for technology firms to upgrade their devices, platforms and experiences to be more accessible.
Finally, one of the more interesting trends in food and drink over the past five years has been the demand by an increasingly sober young generation who want a night out without the alcohol. There has been an increase in demand for low- or no-alcohol options in bars and restaurants, and this is set to continue with these products being integrated into new venues such as modern bottle stores with tasting counters or teetotal bars.
These are just a few of the trends that will affect our lives in 2023. If you are thinking of starting a new business or wondering how the changing world will affect your current business, it’s worth taking a few hours to read this excellent report from Wunderman Thompson.