WHAT’S IN THE BAG
Hey guys and gals!
counting backwards to the completion of our 9th and ultimate functional competition, we have only a few topics left untouched about shopping! So let’s move on to what we buy as consumers and how this mirrors the cultural and social trends of our times.
1 – In this day and age, millenials are the most significant consumer group. Want to know what millenial shoppers prefer and value? Have a read of this article that outlines the most prominent consumer habits of the millenials.
2 – Compared to previous generations, millennials tend to spend more on comforts and conveniences like taxis, pricey coffee and dining out. This is according to a new report from Charles Schwab which is summed up in this helpful infographic.
3 – What’s more, they care about sustainability and are willing to spend more money on products that are ethical and eo-friendly.
4 – At the same time, more and more people now care less for branded products. And because of that many of the big brand names are taking the hit.
5 – Sometimes people buy weird things as well. Here’s a funny list of the most bizarre Amazon purchases which actually turn out to be genius conceptions.
6 – There are products that we would never thought would become obsolete. Yet technology has swooped them away and soon, new generations won’t even know that punch cards or dvds ever existed.
So while you are processing all this new info, I will just mention that the registrations are now open and you can log in to upload your wonderful ideas! Late registration is available from yesterday so if you decided to participate last minute, have no worries!
Finally, I need to remind you that our new competition Re-Draw is on and the early registration is now available!
More next week!
All the best,