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Demographics are dead, time for businesses to break the mould, says trend report
Predicting consumer behaviour based on demographic norms such as age, gender and income, as a means to shape a business has become obsolete, according to global agency trendwatching.com, which says it’s time for businesses to tear up the playbook.
In a feature for the August 2015 edition of Health Club Management, the agency notes that consumers are rejecting traditional moulds of how they are expected to behave, choosing instead to construct their own identities and lifestyles around individual preferences and interests.
Citing unexpected statistics such as the fact that women account for the majority of UK video game players, and that there are more gamers aged over 44 than under 18, trendwatching.com notes that the world is moving on and firms will have to keep pace with consumers’ changing tastes if they wish to prosper. Not only that, but they must keep abreast of innovation from competitors, as each leap forward will lead to a shift in consumer expectations.
“The health and fitness sector is no exception, and it has already begun to refocus its offering in response to this trend,” notes Health Club Management editor Kate Cracknell in her column for the August issue. She cites yoga for men and CrossFit for kids as evidence of the industry adapting to new demographics and highlights innovations such as fitness class booking via apps and instantly bookable PTs as examples of leaps forward which are resetting consumer expectations.
In terms of emerging consumer trends identified by the agency, one of the most interesting highlighted at the recent London Trend Seminar was the shift away from demonstrating status through material possessions, towards status as a product of who you are and what you do. This can be evidenced in the fitness market by the growing popularity of extreme obstacles course races and the increasing focus from gyms in offering their services to help consumers train for these events.
The trendwatching.com report also strongly supports a departure from sector norms and advocates becoming what is often referred to as a ‘market disruptor,’ as has been the aim of boutique fitness chain 1Rebel. The new report advises: “Be heretical towards your brand heritage: Brands should be willing to re-interpret or even overturn decades of brand history and tradition and do the opposite of what everyone expects: a powerful way to win the attention of new customers.”
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