Economic uncertainty, inflation, inventory challenges, and a heavy promotional environment made 2023 a challenging year for many businesses. While many unknowns and stressors persist as we enter 2024, the general sentiment across industries seems to be one of cautious optimism.
Still, that tentative hope is coupled with the realization that even conservative projections will likely only be reached after successfully navigating tight decisions, applying hard-learned lessons, and implementing smart planning and processes. It’s an unforgiving and tricky line to walk.
Where and how businesses allocate resources in 2024 will absolutely impact both their immediate and long-term resiliency and relevancy. It’s necessary to be prudent in the short-term while concurrently investing in the innovation and vision that will satisfy future consumers.
When it comes to design, this is especially important given that brands typically work many months or years out - decisions made now in 2024 won’t hit the market until possibly 2025, but likely 2026 or later. By then, people’s expectations and lifestyles will have evolved.
Brands can’t stagnate out of fear now and expect to wow later. Instead, brands can make thoughtful, calculated decisions now - with a keen eye on budget and tolerable risk - to set themselves up for a promising future.
So, how can you approach design now, in today’s careful climate, in order to optimize success (from both a business and consumer perspective) when product launches in 1-2+ years?
image: Mo
First, let’s look at a few key behavioral and lifestyle trends:
People have become more particular - out of necessity and mindfulness - with how they spend their money, time, energy. They are more conscientious of their consumption and with the broader impact of their decisions. Their standards and expectations have risen while their willingness or ability to buy has lowered (or buy new, as resale options have become plentiful and attractive).
In addition to being value driven, people have also become much more values driven in their purchases. They highly prefer supporting brands that share their same priorities and ethics, and feel dismissed and disappointed in inauthentic or superficial messaging and actions. People are seeking a strong sense of belonging, period, and that includes in their interaction with and connection to brands. They want to put their energy into things (people, activities, causes, organizations) that matter to them and where they feel they matter and are seen.
In tandem, the boundaries between environments and activities that pre-Covid were defined and firm, seem to have settled into a blurry normal. People work, learn, play, and recharge in spaces and periods of time that can be both weird and wonderful. They want products that transition with them across these zones, moods, needs.
Finally, perhaps spurred by the last several years of instability and disruption, people seem more open to exploration. They are curious to try new things that pique their interest, and they don’t carry the burden of feeling like they must commit at a certain level to own their participation in (or love of) an activity. Definitions of what it means to be a hiker, a musician, a gardener, a baker, an anything have become more broad and encouraging. To satisfy their range of interests, people lean on products that are high value multi-taskers. Think shoes that show off personality at work, but are supportive enough for daily long walks, and durable enough to take on a first backpacking trip.
Now back to that question:
How can you smartly approach design now, given current challenges, these trends, and with an eye on future success?
Here are some ideas:
Innovate. Don’t add to the sea of sameness. People are looking for new ideas and interpretations that are clever, purposeful, adaptable, trustworthy. They need a compelling reason to buy. Focus on true innovation that will actually make a meaningful difference in people’s lives (and the world).
Special but not too specialized. Create products that are distinctive and delightful, that celebrate the connection your brand and audience share. And, make sure they perform in multiple settings and situations. Make products valuable, trusted companions, that are not too precious to be well-used and well-loved.
Exception to above: Dial high-performance gear and gadgets to perfection. Nail features and quality. Create that product(s) that gives people that sense of belonging and confidence in a very niche space.
Make your line easy to understand and shop. People want less confusion. Get rid of redundant skus. Streamline your line. Reduce the bandwidth and cost necessary to maintain a large line. Focus on what makes you unique and what makes you money.
Make what is needed. Get clear (very clear) about who your audience is and understand (deeply) what matters to them and how that is evolving in the future. Now is not the time for guesses. Design for your consumers’ future selves. Balance quality, price, and sustainability. Don’t upsell, don’t over-complicate. Approach design - and your audience - with directness, honesty, empathy.
Tell good stories. A focused line leads to better storytelling - at the product level, the messaging level, the brand level. A brand’s voice is its key identifier. Design yours to be clear, principled, and memorable.
image: Getty Images
In the next issue, I’ll share advice on how to approach color now in 2024 for a successful 2025/2026+ season. It will consider brands’ likely need to be more judicious with color quantities, application, and longevity, while still capturing their unique appeal and POV.
