Viewing entries tagged
Mega trends

How the 'Amazon Effect' will impact every Australian

How the 'Amazon Effect' will impact every Australian

If you work in or own a business, then Amazon will change the life of the people (customers, colleagues, stakeholders) around you. This is because Amazon does a few things very, very well and sooner or later, these people will expect the same from you.

Here are three examples of how the 'Amazon Effect' will have side-effects for every Australian.  

5 things you will learn on our Trends Workshop

5 things you will learn on our Trends Workshop

if you’re running or working in an organisation that wants to stay at the top of its game, then knowing how to spot, use and manipulate trends is increasingly important. In this blog, we explore five pertinent skills you will gain from attending one of G2 Innovation's Trends Workshops.  

3 Reasons your Business Needs to Know About Trend Spotting

3 Reasons your Business Needs to Know About Trend Spotting

Th­­e elusive trend. It’s often said that once you react to a trend it’s already too late. 

But how, as a business, do you stay abreast of the trends, and most importantly, how do trends apply to your end-user? 

With the seemingly rapid increase in technology, it is easy to assume that it’s impossible to keep up. But whilst some trends are fleeting fads (eg. fidget-spinners) others have much greater longevity (eg. ethical manufacturing). Regardless of their staying power, what is most important is how they impact your end-user and this is something that can help you decide whether or not to jump on board a particular trend train. 

Here are 3 reasons your business needs to know about trends:

1.     Trends are influencing your customers

E-commerce turned the retail world upside down, pair it with the advancement of mobile phone technology and mobile data enhancements and you have a tech savvy, constantly connected consumer that wants to shop for anything, anywhere, at any time - with fast delivery! 

Where the Baby Boomer showed a certain reluctance to change, for the subsequent generations (in particular the Millennials and Alpha Gens), change is embraced as a part of life. These generations will change jobs or even careers multiple times, they will share cars, jobs and work spaces. They will barely notice technological change because to them it is inevitable and expected.  

These generations are being influenced by trends on a daily basis, but unlike generations of old, they expect their businesses and service providers to keep up with their appetite for change. For them, a lack of change is unforgivable.

By not changing or adapting to what influences customers, a business is putting its longevity at risk.  

2.     Identifying trends helps you to plan for the future

Identifying trends will help you look beyond fleeting fads and plan for the future. First, recognise that there are three types of trends:

Overarching Mega Trends are enduring. Like climate change, globalisation, and robotics. They can last generations, even centuries.

Consumer trends represent the habits, behaviours, and expectation of consumers. These are driven by mega trends but don’t last as long. Smart phone usage, wearable technology, and the increased desire for well-being are great examples of consumer trends. These drive significant change over a number of years. 

Fads are fast and regionalised with a short life. They are the passing crazes such as wheatgrass, hipster beards or gym ball office chairs that rise and fade quickly.   

Knowing the difference between these types of trends, what the signifiers of their domination are and how to analyse them will inform decision-making, and ensure that your business is always in the middle of the latest developments. It could mean the difference between jumping on a fad just as it fades, or being at forefront of it.

For example, whilst every new social media platform presents possible new opportunities, Snapchat, Instagram and the like are not the influencing trends. The underlying trend is ‘connectedness.’ The more we rely on AI and computer-centred technology, the more we will also crave the human experience. Something that can’t be replaced by technology. 

Humans desire connectedness via our phones and computers 24/7, but with this comes an intense desire to be connected with other human beings and that is the trend that social platforms have cleverly manipulated to their advantage. 

Recognising the underlying influences behind changes in your marketplace allows a proactive rather than reactive approach to trends.

3.     Trends help identify opportunities

If you can see where a trend has come from and where it is heading, you have a much greater capacity to capitalise upon it.  

The rise in internet shopping presents endless examples of companies that identified opportunities in a trend (and indeed those that did not!). 

A great example of this is PayPal. PayPal was originally a software delivery company for PalmPilots. Their founder, Elon Musk, saw that internet shopping was a long-term trend and capitalised on an opportunity to create an auction currency for eBay. In this case, Musk’s awareness of a consumer trend and his ability to act upon it, resulted in the ultimate Return on Investment - a $1.5 billion buy-out by eBay, only 2 years after PayPal’s inception. 

Responsive not reactive to change = success.

 

Trends are something tangible that we can map, immerse ourselves in and use to better connect with our consumer, so that we can informatively imagine how the future will impact our business and most importantly, what opportunities this future can provide. 

Trends are the windows to the future.

Are your curtains open?


 
 

Innovation Hacks for January

Innovation Hacks for January

It’s January and you’ve definitely had enough of tinsel, baked ham and end of year parties for one year. You’re back at the office, it’s quiet, the staff that aren’t on holiday are a little subdued and you're looking for a way to keep productivity high and start the year with a bang of energy and action... Sound familiar? Here are a few tips that might kickstart your best year yet!

Disruption – Are your Advisors keeping up?

Disruption – Are your Advisors keeping up?

In times of trouble or mounting pressure many people turn to advisors for help, but what happens when those you trust most are on the brink of disruption? We look at what future thinking advisors are achieving and some of the opportunities that lie ahead for this industry. 

We really need to talk about Scaling up…

We really need to talk about Scaling up…

Start-ups may be what's hot in the media and political agendas at the moment, but there's another economy growing opportunity we all need to paying attention to, and that's the scale-up.  In this blog we discuss how the scale-up is essential to shaping a more vibrant and progressive economy. 

 

Future Trend Alert: Internables

Future Trend Alert: Internables

We (the general population) love wearables - there's no doubt about it, and, whilst they don't show signs of fading out any time soon as a mega trend, there is, however, an exciting concept lurking in the shadows... The next generation of wearables: the 'Internable' - an area of development which is ripe with innovation opportunity and we believe it's only a matter of time before this starts to challenge the mighty wearable for its throne...

What is Tachophobia?

What is Tachophobia?

Hint: It’s not a fear of Mexican food! Ever felt like the world is moving just that little bit too fast for you? Well, you're not alone...this feeling; fearing the pace of change has actually been given a name: 'Tachophobia'. In this blog, we explore this concept; looking at where, how and why it has been evident throughout innovation history...

As Simple as 1, 2, 3D

As Simple as 1, 2, 3D

For the latest article in our Trends in Manufacturing series, we welcome the newest member of our team, Lizzie Williams. Lizzie looks at the ever improving and fast moving world of 3D printing, and what exciting opportunities it offers enterprising manufacturers. 

Graphene - The Power in Your Pencil Case

Graphene - The Power in Your Pencil Case

In the first of our series on Trends in Manufacturing we look at the super material - Graphene. This atomic sized material could impact upon everything from touch screen technology, to how we construct buildings, to space travel. In fact it could one day be used to create a fuel free spacecraft that travels using light alone. So why is it that many manufacturers are failing to take any notice..?

The Speed of Change - Threat or Opportunity?

The Speed of Change - Threat or Opportunity?

The speed and rate of change has never been higher. In the history of the human race, we have never had so much access to information, knowledge, customers and new markets as we do today. How businesses look at the ongoing escalation of change and the responses they make are more crucial than ever before...  

 

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