Trends are a catalyst for business success. They are the driving force that transforms any company into an industry leader or renders it obsolete.
You’re just another company in the sea of competitors vying for attention without trends. With them, your products and services will be sought after by everyone who needs what you have to offer.
In this blog post, we discuss trends and how they affect consumer behavior, and the role of social media in changing these behaviors.
What are Trends?
People define a trend as a temporary change in the frequency with which certain phenomena occur over successive periods.
They can be cultural or societal or more frequently follow an upward or downward movement of market demand.
Several factors drive trends, including social causes (like age demographics), fashion changes (like fast fashion), cyclical behavior (like gift-giving holidays), and technological advancements (new technologies).
A trend may appear overnight and include smaller sub-trends that influence each other to create larger movements. For example, you could have a collection of sub-trends that all point to a larger trend, which is a desire for more sustainable products and services.
What Are the Different Types of Trends?
As mentioned earlier, trends can be cultural or societal. Within these two categories exist several subgroupings: fashion trends, consumer behavior trends, technology/advancement trends, etc.
The only way to properly manage such diverse groups is by studying them as separate entities.
The purpose of this post is not to dive into deeper detail about every type of trend; rather, we will focus on how they affect business practices and social media platforms like Facebook or Instagram.
- Types of Fashion Trends: Seasonal (e.g., Halloween), Cyclical (e.g., swimwear in the summer), Fashion-forward (the newest styles), Retro (old styles made new again)
- Types of Consumer Behavior Trends: Social trends, Demographic trends, Lifestyle trends, Psychographic trends
- Types of Technology/Advancement Trends: Mobile technology, Augmented reality, Virtual reality.
How Do Trends Affect Businesses?
There are two main types of trends to consider when it comes to business: those that affect consumer behavior and those that affect production.
The former could be anything from a change in what people want or how they want it delivered to a preference for a certain type of product or service.
The latter is more about implementing new technologies or methods into the production process – such as 3D printing – that drastically improve how a business operates.
When it comes to the customer, trends have a huge impact on marketing strategies and sales tactics. They can be used as a foundation for what you do or determine how you grow your company over time.
Take tin capping machines as an example. A few years ago, the trend was for all-in-one beverage cans with a built-in straw, similar to the ketchup and mustard bottles of old.
This created a huge demand for machines to seal these cans without damaging the cap or straw components.
As it turned out, this was just a blip on the radar. In 2017, pop-top lids became all the rage because consumers want more control over how much beverage they consume at any one time.
Another example: custom perfume box. A few years ago, the trend was for sleek, modern boxes without much decoration. However, as time went on and trends changed, customers began to want more personalization in their product packaging.
Now, more companies offer a wider range of box styles and customization options to meet the demands of their customer base—one example of a country that mass produces perfume boxes in China.
China is one of the most critical markets in perfume, and they have been mass-producing custom boxes for years, thanks to keen China sourcing agent.
How Do Trends Affect Social Media?
Just as trends greatly influence businesses, social media platforms are too. They often drive trends.
For example, the selfie trend started on social media and soon became a cultural phenomenon. Platforms like Facebook and Instagram have algorithms that constantly change to show users the content they’re most likely to engage with.
If a trend is popular on those platforms, many people will notice it. This allows businesses to capitalize on a trend by creating content relevant to their audience and using hashtags to increase reach.
Being aware of trends also allows social media managers to stay ahead of any negative sentiment from discussions about certain topics.
For example, Black Lives Matter is currently a trending topic in the US.
As a business, it would be important to monitor any conversations about the movement and make sure your voice is one of productive engagement rather than offensive content. Social media managers need to stay relevant with their industry at all times.
Why Does Social Media Need to Keep Up with Trends?
Social media platforms are incredibly influential in both culture and business. For example, big companies use Snapchat to promote new products and create engaging campaigns.
Keep in mind that social media is also an excellent tool for customer service and building relationships with existing customers.
The more relevant your content is to what people want or how they behave, the better chances you have of showing your target audience that you understand them and care about their wants and needs!
Trends will always exist in one form or another. Businesses and social media platforms can better serve their customers and followers by knowing how to identify and understand them.
It is essential to keep in mind that trends are ever-changing, so what’s popular today may not be tomorrow. Stay ahead of the curve by paying attention to what’s going on in the world around you.