If your brand isn’t taking advantage of the opportunities that emerging trends offer, then take a seat and read on to learn more. This article will show you how to do it, and it will explain why it’s important for you. Being able to identify and capitalize on emerging trends gives brands an advantage over their competitors.
What’s Trend Analysis?
A trend analysis is a process that analyzes the various elements of a trend to identify changes that are happening in the market. It can help you identify areas of opportunity and develop strategies to capitalize on these changes.
Trend analysis can also be used to identify big ideas that are shaping the conversation on a given topic. It can help you develop strategies to capitalize on these changes. The goal of trend analysis is to provide an in-depth understanding of how these ideas will affect the market in the future.
Finding Emerging Trends By Understanding Major Narratives
Before you start a trend analysis, you must identify the articles that are relevant to your query. This will allow you to get a deeper understanding of the various factors that are shaping the market. One of the most important factors that you should consider is the relevance of the articles and how you can reach the target market.
After performing a targeted search within Quid Enterprise, you can visualize your results to get a better understanding of the various stories that are shaping the discussion. Themes begin to appear as you go through each cluster, based on the significant takeaways from the articles that were featured. By doing this, you’ll be able to identify the major narratives and gain a deeper understanding of the concepts that are shaping the discussion.
Finding Niche Narratives That Can Become New Trends
In the map created by the NetBaseQuid tool, you’ll be focusing on the small, unacknowledged clusters on the periphery. These are the ones that are yet to gain mainstream media traction. These clusters are often filled with news and rumors about new technology and product launches. They also often contain significant research investments and multiple partnerships.
These are the hidden gems that are contributing to the development of the market’s evolving niche narrative. It’s important to keep these conversations in mind as they can provide insight into the future. Using the Quid tag feature, you can easily group similar clusters.
Trend analysis can provide you with valuable competitive intelligence that can help you spot emerging trends, track their evolution, and identify areas of opportunity. It can also help you make informed decisions.
Emerging Trends for Marketing
1. Supply Chain Issues
The pandemic has caused various issues to affect the global supply chain, such as shipping container shortages and gridlock at ports. These will likely get worse before they get better.
2. Ethical Purchasing
If you didn’t know that Millennials and Gen Z care deeply about ethical issues, you haven’t been paying attention. They are becoming more demanding of retailers when products or brands don’t reflect their values. As the luxury market continues to grow, more brands are being placed under increasing scrutiny for their ethical practices. This has led to a spike in media attention for certain ethical fashion topics.
3. Remote Learning and Work
The outbreak of the coronavirus caused many people to start using Zoom immediately. Schools also closed their doors as a precautionary measure. Despite the lack of media attention, the discussion around the pandemic has continued to simmer. It’s still going to continue to get more challenging as new variants emerge.
About NetBaseQuid
NetBaseQuid’s platform uses artificial intelligence to analyze and interpret massive amounts of data. It enables brands, agencies, and consulting firms to make better decisions quickly and efficiently. They’re the trusted partner of some of the world’s biggest companies such as T-Mobile, Ogilvy, Lufthansa, and Yum! Brands.
