Years ago, back in 2010, I had the good fortune for working on a trend forecasting project for a proper-proper blue chip company. Our job was to predict the future five years down the line, so that the company would be well prepared to get its pipeline of products in tune for the needs of its customers for the future.
It was the first time, I came across a company which had vision.
And the project and the predictions or in market speak, the trends that we forecasted have played themselves out enough for me to thump my chest like a Neanderthal calling out to Jane, the proverbial virgin.
Time has elapsed, and I seek the same rush of predicting future trends.
So, here are my trend forecasts for the next 5 years (2017 - 2022)
Prime/Select/Premium subscriptions will enlist a human component and not just rely on an algorithm.
This includes media subscriptions such as Netflix, Hulu, Amazon Prime etc.
These services will be charged on top of the services you are already paying for as a special service.
There is going to be a massive shuffle up in the conventional media set-up.
The print/digital debate is going to be replaced with facts vs alternative facts.
Print/Digital debate is going to be replaced by cord cutter Vs cable People are going to pay a premium for catered, customised services. Consumption of media is going to get lot more fractured and the concept of “bubbles” and its scope is going to be get lot more smaller. Market disruptions are going to go the physics way - In the sense that they are going to get more frequent and large.
The focus of innovation is now going to shift from one of providing convenience to one of providing control to the users. There is going to be an increased demand for storage spaces especially in urban markets. [remote garages sort of thing]
Recycling things in a profitable manner is going to be new “it” thing in tech space. Even more niche hobbies are going to turn lucrative
Organic farming, homemade accessories and handicrafts are already making their forays. Hobbyist photography, writing and other endeavours are already reaching market saturation, both from supply and demand side
Immersive entertainment is going to take a massive step and change the way people consume audio visual stories. Indian movies/popular discourse is going to turn lot more political as the right wing will remain in power for another 5 years as lack of leadership in opposition will remain static. The selfie culture of trying to promote one’s life being awesome is going to mutate and take another form. [edit: 6Mar 1757hrs]
Will update this or refine this till 31st May, 2017 and then freeze it.