Briefing: Purpose built products for diverse consumers

A new trend report from Sabre has announced that ‘Demographics are dead’. You can no longer presume what any one consumer group will want, but you can build products that meet new expectations and invite individuals to enjoy them. The report says ‘Consumers love brands with meaning and personality’ and that 63% of global consumers claim to buy products and services that appeal to their beliefs, values or ideals.

These videos discuss creating products to meet consumer needs:

There is a growing consumer awareness of what is possible. There are many niche needs, new trends and individual desires that can be catered to with carefully designed products. The report states that 65% of consumers say bands should take a leading role in supporting individual happiness.

As the above videos reflect, many new products are fighting cater to new consumers’ needs but a strong identity and a unique angle, be it experience or price, can set a brand apart.

The study also identifies helpfulness and personalisation as two key elements of future hospitality products. Generic advertising is losing popularity. Instead brands must connect with individuals and demonstrate an understanding of them.

Trends in Sabre’s report were identified by TrendWatching, powered by a global network of 3,000+ trend spotters.

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Video clips produced by ybc.tv for the Hospitality Channel, including interview from industry conferences such as the IHIF conference as well as specific Hospitality Channel shoots.