The Herman Trend Alert

March 11, 2020

Changing Priorities: Part 1

Recently, I learned that Accenture Interactive has a practice division dedicated to design and innovation practice. Each year, this division taps its global network of 1,200 creatives in 33 studios to crowdsource trends for the coming year. This year's Fjord Trends report tells a comprehensive story about the landscape and what's coming next.

Report Overview

One of the major findings was that as a civilization, we now care more about our world and the impact we have on it. These changed priorities affect all areas of business and design. This report found that companies around the globe are under stress to reconsider their goals and become purpose-driven. At the same time, an increasing number of people are being more conscious about their consumption. In particular, worries about the effects of single-use plastics has become a top priority in many countries. The battle between the technology industry, governments, and their citizens is becoming more obvious every day. In Fjord Trends 2020, the organization explored seven trends; this Herman Trend Alert highlights the first four of those trends.

The Definition of Growth is Evolving

Employees, consumers, and shareholders are exerting pressure on organizations to consider redefining their success in more ways than the just the bottom line. These companies are redefining success to include progress regarding concerns about climate change and finite natural resources, and economic and political instability. To support this transition, companies will need to upskill their workforces.

The Concept of Money is Changing

Just like our definition of success is evolving, so is our experience of money, including what it is and what it can do. The new payment systems that will thrive are those that meet individual customers' particular needs and provide the best experiences, while speaking to issues of privacy, integrity, and transparency.

Walking Barcodes

For years now, we have been trackable online; with the advancing technologies of facial and body recognition, we are now just as trackable in the real world. The wireless technology 5G will create tremendous opportunities for new products and services, however we must all learn to prioritize privacy and security. This trend is also about the effective merging of our digital and physical selves. The challenge for designers will be to redirect their energy toward facilitating meaningful human interactions and ensure that the invisible data-transaction is an exchange that delivers tangible value.

Liquid People

Though people still want to buy and work, they no longer want to define themselves solely by their possessions or their jobs. Just as organizations are moving towards being purpose-driven, so are consumers and employees increasingly seeking greater meaning in their lives. As we move into the future, the most successful organizations will be the ones that can cater to people's desire for conscious consumption by providing guilt-free experiences, and by creating new ways to help people feel good about being who they already are.

The Net of these Trends

Though I wonder whether the younger ages of Fjord's creative staffs skewed their results, I think these findings are indicative of future developments. As people and organizations shift to these new ways of thinking and being, markets will move away from unquenchable material consumption to balance and conservation. The most successful businesses will be those that consciously consider their impact on the climate, the society, and the world.

To read the full report, visit here

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Read this Herman Trend Alert on the web: http://www.hermangroup.com/alert/archive 3-11-2020.html

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