In a recent Mintel presentation on Consumer Trends for 2010, there was an emphasis placed on the concept of Balance, and specifically our need to find balance between the low-end necessities we purchase and those few indulgences we still allow ourselves despite the recession- because we’re only human after all.
Right?
I hadn’t really given it much thought, but in all this talk and data about what consumers are giving up, it’s interesting to see what they aren’t, or the rationality that goes on inside the head when reckoning a small splurge.
What brands stand to benefit from these ‘mini-binges’ in 2010?
Here are my Big Three predictions based on everything I’m seeing, reading and gearing up to buy:
1.) Jean Paul Gaultier for Target
When I heard about this, I went wild. Once a high-fashion favorite of mine, only to see, never to touch—JPG has created a line for Target and I am continually delighted by Target’s ability to bring luxe brands to tangible levels. This is a prime example of High-Low branding strategy and is a good, strong model for department stores to follow throughout the new year.
2.) Drank
While the concept of an anti-energy drink and this particular execution seem sort of silly, the idea behind the Innovative Beverage Group‘s Drank has solid legs to stand on throughout 2010. It is crazy out there, I am stressed out and seeing as I can no longer afford to go out at night, I am going to go home and Relax. Tonics, massagers, more pillows, tea, comfort foods, our pets, movies, TV and books will continue to be the nightly regimen of Americans. Products in these categories will all flourish.
3.) Disney’s Imagination Park
At a time when marketing expenditures are virtually non-existent, certainly not top-of mind for many mass brands, it seems a wild risk to build what is almost a theme park out of your retail store. However, Disney has done just that with its Imagination Park store, a model that revamps the retailer’s space into an interactive wonderland. Looking into a mirror while holding a tiara with a microchip and having a conversation with Cinderella is just the start of the adventure. Retail brands that create more enjoyable and memorable, in-person buying experiences will not succumb to the tightening stranglehold of e-tail anytime soon. Furthermore, brands that can master both in-store and online environs will be the shining successors of a year in recovery.
Rochelle Fainstein
Sterling Brands
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