Ayzenberg Junior Strategist Ashley Otah recounts this week’s trends.
Consumer Spending Habits
Shopping the social way. According to Accenture’s latest study, social commerce will grow three times as fast as traditional e-commerce, reaching $1.2 trillion globally by 2025. Social users can now authentically connect with and showcase purchases made through platforms. Sharing items users have seen online versus how they look in real life and sharing codes that ultimately crash sites is becoming more persistent. However, authenticity and reliability are at the top of consumers’ minds. Integrating shopping options while staying true to the feel of each platform may continue to be a necessary feat and a determining factor for brand success.
The Weeknd: Dawn FM
Watch the space. With The Weeknd’s drop of Dawn FM trending and already receiving “Album of The Year’ claims, looking at the rollout through a social lens is a must. The immersive rollout built suspense and conversation that spanned the social vertical, with tracklists and sneak peek visuals being made specifically for each platform. Additionally, the Weeknd’s accompanying live tweets with phrases like “together,” “all of us,” and “we” highlights fans’ craving for connectivity, even if online. Artists, brands, and the like, can incorporate similar strategies accordingly to satiate the diverse desires of many while also reaching a broader audience.
The nationwide $10-a-month service is available exclusively in the app and showcases how brands must innovate around changing consumer habits, especially within oversaturated spaces. The use of apps, programs, and subscriptions sets brands apart and satisfies consumer cravings.
Tweet and delete. Twitter will now let tweeters quote tweets with reactions dubbing it a “Tweet Take.” Currently tested on iOS, the feature is similar to that of TikTok and Instagram’s recent Reels feature. The addition underscores shifting user behaviors as expectations rapidly change. For example, the surge of social audio indicates users’ desire for varying experiences as cultural changes in the world occur. Although not always easily predictable, actively understanding the implications of these features and how they align with brand principles allows space for innovation.
Metaverse Fashion Week
The future of fashion week. This upcoming March will mark Decentraland’s inaugural four-day-long virtual fashion show. In previous digital ventures, brands have tapped platforms such as Roblox, draped dresses and collections virtually like Hanifa, and teamed up with the likes of Animal Crossing.
The displays of digital ingenuity give an exclusive look at what the space continues to blossom into. Virtual fashion shows will allow brands to reach audiences that may have previously been ignored and offer opportunities for new players in the game. Keeping an eye on the space and better formalizing how to show up in an ever-increasing digital age is an integral pillar not to be ignored.