Trend Blending How To Predict What Buyers Will Want Next
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Trend Blending: Predicting What Buyers Will Want Next
Summary
Understanding consumer trends is crucial for developing a successful product line in e-commerce. Contrary to popular belief, trends don't appear randomly. According to Lisa Suttora, a seasoned trend spotter and founder of WhatDoISell.com, most major trends result from a process called trend blending. She explains that multiple trends often converge to create the next big thing. By examining today’s popular items, you'll notice they often evolve from past successes.
Buyer Psychology
Trend blending is vital for online retailers because it results in products that are quickly embraced by consumers. Many buyers aren't fully aware of why they're drawn to these products, but it's because they tap into existing desires and familiar trends. For instance, consumers crave high-tech items and products linked to their favorite entertainment. So, a Spiderman or Transformers backpack with an iPod docking station is an instant hit.
Know Your Market
Blended trends can lead to specialized niche products attracting specific consumer groups. It's important to recognize that not every niche is price-sensitive. While some shoppers hunt for deals, a growing trend in online shopping is luxury goods.
Suttora notes that many online shoppers have annual incomes of $75,000 or more, with millionaires becoming the latest significant demographic. So, don't shy away from selling a niche product just because it's priced above $25. If it's trendy, a $5,000 product might sell just as well, if not better.
Know Your Trends
Consider current trends: outdoor living, fitness training, and integrating technology into everyday items. Other trends include character-related products and educational toys for children. Here are examples of products born from these trends:
- Fitness and technology merge in shirts and shoes that transmit data like speed and heart rate to devices like iPods, which display training zones and calories burned.
- Character items combined with educational toys, like Spiderman laptops for kids under four.
- Outdoor and tech trends have spurred watches that track tides, ideal for surfers, boaters, and outdoor enthusiasts.
Cracking the Code
To enhance your ability to identify blended trends, Suttora suggests a simple exercise: browse industry publications and analyze articles and ads. Determine which trends led to the products and developments you discover. You might be surprised at how easily you can crack the code and trace a trend's origin.
Understanding that trends evolve logically will help you pinpoint where they are heading and what products to focus on next. By anticipating trend directions, you can collaborate with suppliers on products that cater to niche markets. The information is out there; you just need to connect the dots.
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