2020 "2nd Half" Retail Trends to Note
(1) Plant-based language on food packaging
How many of you are hooked on plant-based foods? Talk about a growing industry. I remember sitting in a delivery truck en route to meet with pecan distributors (for work) and trying Burger King’s Impossible Burger for the first time. It was messy, but enjoyable! Though not entirely vegetarian or vegan, Cliff and I are trying to be more health conscious and reduce the amount of meat in our diet. We still work to find vitamins and proteins from other sources to help us achieve a proper balance. If we are paying closer attention to the plant-based market, I know most of you are as well.
With growing attention comes additional analysis and pushback. In 2019, the meat industry implemented a consumer-directed campaign discussing controversial ingredients in some plant-based burgers and are lobbying Congress to require the term “alternative meat” as opposed to “meat.” According to expert Louis Biscotti, the FDA will issue clear standards for these items…which is another sign that the industry is growing.
(2) Earth tones infused with winter holiday décor
We’ve already discussed how Pantone’s Classic Blue Color of the Year was quite literally the perfect time to highlight the calming, elegant color. Color can play a powerful role in mental health, btw. Blue pairs well with earthy décor, so it isn’t surprising that retailers are preparing for customers to look for natural neutrals. For example, seascapes debuted at Christmasworld this year (really, deep ocean blue tones) and green neutrals are anticipated to be a popular retail color (pairs well with blue, if you think about it).
(3) CBD will take the retail world by storm
It’s not old news yet – CBD is shaping up to be a contender for retailers nationwide. In fact, survey results by Gifts & Decorative Accessories indicate that 35% of Millennials will purchase a CBD product for themselves in 2020. (How much do you want to bet that number has skyrocketed since COVID-19 started dominating our lives?) In fact, Forbes is predicting that by the end of 2022, the FDA and USDA should be on the same page when it comes to implementing regulatory standards for CBD in food and drinks – a process that is currently regulated by states and a bit confusing for many.
(4) Comfort is the new chic
Prior to trading in our suits for pajamas, casual trends for the home were already taking hold. Strategic Insights from Gifts and Decorative Accessories indicated a few interesting forecasts:
- More generations are planning to purchase dinnerware in the next year and that dinnerware will be considered “casual dinnerware for indoor use.”
- Most are looking for dinnerware that costs between $15 and $24.
- Chocolate and candy – the ultimate comfort food – leads the rest of the foodie items pack when it comes to gourmet products that will be bought as gifts.
- Both men and women are interested in usefulness when it comes to gift attributes, placing use and comfort as a higher priority than decorative pieces.
- Decorative pillows, throws, and/or area rugs are the home products most likely to top the consumer list this year. Now that we are all spending more time at home, turning it into an oasis is a greater priority than ever.
Two (Extra) Emerging Retail Trends Due to COVID-19
Two retail trends I would love to see take hold for the remainder of 2020 are:
(1) Lawn and garden consumables
Everyone – and I mean everyone – seems to have started a garden during isolation. And, history would suggest that during times of crisis, gardening becomes a useful outlet. With the potential for COVID-19 to have a few “waves,” with a possible uptick in cases during the fall and winter months, I would anticipate more people turning to growing cut flowers, herbs, and vegetables…if for no other reason than to show off a bit on Instagram or keep the kiddos entertained.
(2) Pet-themed gifts
Since our pets have served as sanity-saving roommates during the pandemic, we need to sprinkle them with even more love than ever. This is especially true once more people start to return to the office. Pets don’t understand why we disappear during the day again, so it’s important to remember what makes them feel loved and special. Nothing can ever replace the love and comfort from having you around, treats and comfort toys aren’t a bad idea. Peace offerings, y’all.
As you prepare for gift-giving this year, consider foodie items that come with a keepsake. There is a bit of strategy to this – you won’t overwhelm your recipient with items that require a place in their home when the majority of their gift can be consumed. But, leaving them with a keepsake item allows for a longer-lasting contribution to their collection.
What is trending in your house right now? I’d love to get your thoughts on these trends…comment with your favorite ideas for 2020! Until next time, cheers to your #hearthhealthhappiness!