Another crazy week in the year of 2020! Just when we thought we were done with lockdown it seems another may be just around the corner. But even amidst all the chaos, the world of brands is as exciting as ever! We’ve seen Cazoo raise a whopping £240 million in funding, the launch of Co-op’s membership scheme, a host of new wellness drinks and Lush’s new customer service app.
In terms of trends, this week it’s all about Kombucha, the unstoppable rise of Depop and home fitness.
It was announced earlier this week that Lo Bros Kombucha is set to roll-out CBD-infused shots into Sainsbury’s, expanding the supermarket’s wide selection of Kombucha flavoured beverages even more.
Hard Kombuchas have become the adult beverage of choice among health-conscious drinkers. Touted as all natural and rich with probiotics, Hard Kombuchas are a gut-friendly alternative to more mainstream alcoholic beverages like beer, wine, and hard seltzers.
Fermented beverages sales worldwide are estimated to hit the $1.7bn mark by 2023, according to data from Statista. This growth is predicted to be mostly driven by the rising health and wellness consumer trend, and the rapid increase in consumer demand for immunity-boosting products following the Covid-19 pandemic.
The unstoppable rise of Depop
Dubbed as the child of Instagram and eBay, Depop has gone from strength to strength. In fact, the resale app’s total global visits have risen nearly 97% from March right through to August.
The hugely popular app has been steadily growing its consumer base since launching in 2011 and the platform now boasts 15 million users worldwide. Between the growing movement for eco-friendly fashion and closure of in-person shops due to the Coronavirus, many have found an affinity for purchasing pre-owned garments online.
Depop has estimated that more than 90% of those using the app are under the age of 26, and a third of all 16-25-year olds in the UK have downloaded it at least once.
On Wednesday, sporting goods store Decathlon reported a rise in annual sales in the UK and announced plans to open more stores next year. The brand’s success highlights the changes in the fitness industry. During the pandemic, fitness fans have been increasingly adaptive, with no gyms, no classes and group training. While many people were thrilled to get back into the gym, lockdown has pivoted the fitness landscape. At-home fitness and online classes have skyrocketed as fanatics have found new ways to stay physically and mentally fit.
More trends and insights to be shared next week!