5 Oct

TrendsWatch | New Business Insight From The Past Week

October is here, and Halloween and Christmas are just around the corner, however currently what this year’s festivities might look like is unknown (sigh!). On a more positive note, there has been some interesting tech innovations this week, with Vans announcing its virtual music festival and Pinterest’s new shopper features.

Trends of the week include loyalty subscriptions, organic wine and winter ‘cocooning’.

Loyalty subscriptions

Loyalty schemes are becoming increasingly popular with brands, especially in the FMCG space. Last month came the announcement of Pret A Manger’s monthly subscription service, which offers unlimited coffee for £20 a month. The scheme has had huge success, and it looks as if other brands are jumping on the bandwagon, as this week the news that Embargo, the loyalty app, has partnered with the likes of Thunderbird Fried Chicken and Gentlemen Baristas. The app will allow the brands to see how loyal customers are, and what type of customers return to the business the most. It will also offer marketing features where restaurants can communicate directly with past customers via a range of channels.

Organic Wine

Against a backdrop of a globally dampened wine market, organic wine sales are predicted to rise from a 2.8% share of world wine sales to 4% by 2024. What’s more, a dive into the trends that have been hastened by the pandemic revealed that health concerns around Covid-19 are continuing to boost consumer appetite for organic produce.

Recent data from the market research company Nielsen shows organic food and drink sales grew by 6.1% – almost double the 3.2% growth of non-organic food and drink products – in the year ending May 2020.

Winter cocooning

A look at data captured from before and during the UK’s lockdown period reveals that consumers are looking for a ‘feel-good’ factor while cocooning at home. Popular products include nail polish, hair dye, candles and diffusers, highlighting an increased focus on wellbeing.

The pandemic has meant many of us having to take both our physical and mental health much more seriously, leading to an increased focus on ‘self-care’ while staying indoors. The trend has also led to a rise in house-plants and home décor.