{"id":20626,"date":"2024-02-27T08:55:45","date_gmt":"2024-02-27T13:55:45","guid":{"rendered":"https:\/\/www.sageworld.com\/blog\/?p=20626"},"modified":"2024-02-28T09:53:08","modified_gmt":"2024-02-28T14:53:08","slug":"what-is-trendspotting","status":"publish","type":"post","link":"https:\/\/www.sageworld.com\/resources\/index.php\/2024\/02\/27\/what-is-trendspotting\/","title":{"rendered":"What is Trendspotting?"},"content":{"rendered":"\n

What is Trendspotting? <\/strong><\/p>\n\n\n\n

Trendspotting is the process of observing, analyzing, and interpreting patterns and shifts in various aspects of society, technology, and consumer behavior. It involves staying attuned to changes that can impact industries, markets, and consumer preferences. Identifying trends early gives businesses a competitive advantage, enabling them to adapt, innovate, and seize opportunities before competitors.<\/p>\n\n\n\n

We sat down with our Senior Social Media Coordinator, Anne-Marie Lugo, to dip into her perspective on trendspotting.<\/p>\n\n\n\n

Let’s go over when and when not to jump on a trend.<\/p>\n\n\n\n

Don\u2019t (always)<\/em> Jump on the Bandwagon <\/strong><\/p>\n\n\n\n

Following trends is a great way to keep your business relative and at the front of people\u2019s minds; however, it can become exhausting and, if not done correctly, can be detrimental to your company.<\/p>\n\n\n\n

As trendy as the Stanley cup movement has become across social media, Anne-Marie advises avoiding the ongoing trend. <\/p>\n\n\n\n

“A great way to gain the benefits of following trends is to stay in your lane and make it your own. If you don\u2019t already sell cups, don\u2019t change all your inventory to cups just because of one trend!”<\/p><\/blockquote>\n\n\n\n

Let that ship sail, even though it may be lucrative. Trends come and go faster than the changing weather in Texas.<\/p>\n\n\n\n

For every one trend, there will be five more. So, be patient and leave the Stanley trend to the cup people. <\/strong><\/p>\n\n\n\n

If You\u2019re Already on the Bandwagon…<\/strong><\/p>\n\n\n\n

However, if you sell cups, jump on that trend, FAST, and make it your own. Offer a similar cup at a more affordable price point, advertise an accessory compatible with every company\u2019s cups, etc. <\/p>\n\n\n\n

\u201cSee a problem or a need and supply a solution\u201d, says Anne-Marie.<\/p><\/blockquote>\n\n\n\n

Don\u2019t sell Stanley\u2019s, but sell tumblers instead? Market them!<\/em><\/strong> And if you sell tumbler accessories, make sure those are front and center as well. Your clients will succeed more in their business if they already have problem-solving solutions available at the start. <\/p>\n\n\n\n

Tumblers<\/strong><\/p>\n\n\n\n

\"tumbler\"
Item #AQT-3
Lungsal
SAGE #52455

<\/figcaption><\/figure><\/div>\n\n\n\n

Tumbler Decals<\/strong><\/p>\n\n\n\n

\"\"
Item #DPDL
Digicali Promo
SAGE #52052 <\/figcaption><\/figure><\/div>\n\n\n\n

Bottle Brush<\/strong><\/p>\n\n\n\n

\"bottle
Item #WKA-SC22
Ariel Premium Supply Inc.
SAGE #60462 <\/figcaption><\/figure><\/div>\n\n\n\n

Jumping on a Trend<\/strong><\/p>\n\n\n\n

For trendspotting, get on TikTok and follow influencers that\ndo product reviews. Remember to keep it in your field of expertise. <\/p>\n\n\n\n

Say you sell luggage, find travel influencers, see what types of bags they\u2019re reviewing, and find out their biggest complaint. Do your bags solve that problem? When you narrow in on your niche, you\u2019ll be able to do something and do it well, without changing the entirety of your business model.<\/strong><\/p>\n\n\n\n

“In my opinion, the most successful way to follow trends is to take something you\u2019re already doing and temporarily adapt to the trend, while still leaving room for normal business to pursue.”<\/p><\/blockquote>\n\n\n\n

Just Ask!<\/strong><\/p>\n\n\n\n

Also, don\u2019t hesitate to ask your customers why they love a specific trend\/product. If they love a name-brand cup because it\u2019s spill-proof, has a straw, can fit in cup holders, etc., you can offer something they want but at a more affordable price point. <\/p>\n\n\n\n

“Above all, make it your own and act fast. If you see 4 or 6 influencers talking about the same product and the comment section has a ton of buzz about where they purchased it from, take that as a sign to get an early jump on the trend.”<\/p><\/blockquote>\n\n\n\n

Leveraging Trendspotting for Business Success<\/strong><\/p>\n\n\n\n

  1. Adaptability as a Core Competency:<\/strong> Businesses must cultivate adaptability as a core competency. The ability to respond quickly to emerging trends ensures that companies can capitalize on opportunities and mitigate risks effectively. This adaptability extends to products, services, processes, and organizational culture.<\/li>
  2. Innovation and R&D Investment:<\/strong> Innovation is a natural byproduct of trendspotting. Companies that invest in research and development (R&D) and foster a culture of creativity are better positioned to identify and capitalize on emerging trends. Allocating resources to innovation ensures businesses remain at the forefront of their industries.<\/li>
  3. Strategic Partnerships:<\/strong> Building partnerships with innovative startups, industry leaders, and research institutions can be a game-changer. Collaborating with external entities provides businesses diverse perspectives, access to cutting-edge technologies, and a shared pool of knowledge.<\/li><\/ol>\n\n\n\n

    What’s the Bottom Line?<\/strong><\/p>\n\n\n\n

    In the era of rapid change, trendspotting has evolved from a desirable skill to a critical business competency. By leveraging trendspotting as a strategic tool, companies can survive and thrive in uncertainty, positioning themselves as industry leaders and innovators.<\/p>\n","protected":false},"excerpt":{"rendered":"

    What is Trendspotting? Trendspotting is the process of observing, analyzing, and interpreting patterns and shifts in various aspects of society, technology, and consumer behavior. It involves staying attuned to changes that can impact industries, markets, and consumer preferences. 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