Written by: Vickie Sullivan  |  April 08, 2021

Turning Consumer Trends into Opportunities

As we’ve explored before, trends can point us to opportunities hidden in plain sight. A recent example: Fellow influencer and futurist Joyce Gioia’s article “The 6 Top Consumer Trends to Watch in 2021.” It’s an excellent synopsis on of the Values and Lifestyles Study from the Stanford Research Institute (SRI).

Move past the product focus, and look at findings #3, employee activism, and #5, alternative income sources. What pinged my radar:

• Persistent problems. The employee activism trend points out an old problem with a new source: bad publicity due to employees who speak out against a company. Being proactive in the face of a recognizable threat is a great way for organization development (OD) and culture folks to find new applications for their brilliance. For the rest of us, we need to ask: What persistent problems have become bigger and therefore more urgent?

Listen: How Trends Can Uncover Opportunities

• New markets. Side hustles may not big enough to support an entire practice, but these are great for passive income and add value to bigger projects. What can marketing/operation folks develop to help these budding businesses? This is a great way to access that “river of nickels.”

Articles about trends are a great heads-up. If you drill down just a level or two, you can find opportunities for new revenue streams and audiences.

Now Read This:

• How to Use Tools to Attract New Opportunities
• Strategic Sounding Boards Give Real-World Advice for When the Rubber Meets the Road