Staying relevant to consumers today requires a continual focus on new brand innovation.
In the face of inflationary pressures, global disruption, and cautious consumers, many brands may naturally hold back on innovation, particularly small and medium-sized businesses. Yet only 6% of surveyed respondents across the globe are averse to trying new things.
In fact, innovation is considered a key “functional” aspect that makes a product the winning choice of purchase, as 81% of global respondents are keen to use a brand that regularly changes and improves its products.
Trendsetting dispositions around the world
What’s next for small brands
Knowing that only a fraction of global shoppers is averse to new products right now, it’s important to think conceptually about the cycle to which trends can initially appeal to consumers. Intrigue is likely to start with trend leaders, and some brands may bridge interest to a share of innovation-seekers as well. But for many, it is difficult to scale true mainstream interest. The few brands who can sustain momentum must keep a sense of newness for the most trend-savvy while attempting to earn the trust of mainstream followers and routine-seekers.
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