This framework will help you not only to understand consumer trends but also to apply these learnings to your business transformation. You will be available to identify what is changing and why, what new customer needs are created and find new sources of ideas and inspiration.
Mary Meeker’s coronavirus trends report shouts “Shifts in consumer behavior are accelerating to become more immediate change since the lockdown” and even if this caught us off of guard it will take a while before getting back to normal. The fact is that consumers are spending more time online, but are also switching options faster than ever.
Similarly, you must keep an eye on your consumer trends. Get up to date with the latest trends in your niche. This framework will help you through this process. You can start by analyzing which trends are emerging now? what is changing, and why? Are they just short term, or they will impact the long term?
Thus, identify the new consumer needs, wants, and expectations. Look for gaps in what your customers want and what they have and check for ideas through real-world examples.