Consumers are becoming wary of innovations that frame themselves as the “next big thing.”
About This Trend:
In our research, we were stunned to find just how many industries depend on the emergence and disappearance of fads to generate buzz and interest among consumers. We also found that consumers are catching on to this, becoming jaded and harder to win over as a result..
This does not mean consumers are developing an immunity to falling for fads. Rather, people are tiring of the hottest products and services at a faster pace, moving on to the next fad faster than brands can keep up. Ask yourself, how can I capitalize on the attention from this fad to deliver on my next product or service, and make it something that will last longer?
The good thing is that this trend has created a golden opportunity for the few organizations that can sustain their new product or service in the minds of customers, and rise above the temptation to fall into the “here today, gone tomorrow” trap.
Stories & Examples
- The comedy site Funny or Die captured the ridiculous nature of health fads in a hilarious video about a “Time-Traveling Dietician.” In the video, a dietician goes back to the 70s to warn an unsuspecting couple about all the developments and health discoveries made by scientists in the future.
- The value of the fitness equipment market alone is estimated to reach $12 billion by the year 2022, and it is likely that much of this growth will come from replacing dormant, at-home exercise devices with the newest, hottest piece of equipment.