Where MailChimp, Facebook, Pinterest, and others saw the most growth in the past year
5 Minute Read
What’s going to happen in 2020 in the business and tech world?
One of the best ways to answer that question is to look back at emerging trends from the last several months and see which have the potential to explode further in the new year.
The Trends team went through public year-end reports of companies like Reddit, Pinterest, and Facebook to highlight some major business ideas and markets to watch in the upcoming year.
Full report (this one is particularly worth your time)
Highlights: Gender-neutral clothing/similar products and home improvement
- Pinterest says searches for gender-neutral haircuts were up 625% this year and searches for gender-neutral kids clothes 119%.
- Tuxedo dress searches were up 99% and androgynous wedding dresses 55%. Earlier this year, we flagged gender neutral underwear as a rising product, particularly as Victoria’s Secret and traditional brands falter (sales of underwear, in general, are expected to rise at a 6-8% CAGR).
As for homes, there was an increase in searches related to an improved home life, much of it based around remote work. “Backyard cottage” was up 159%, “work from home outfit” climbed 82%, “home theater design” was up 368%, and “home coffee stations” jumped 751%.
Full Report (also very much worth your time, especially if you’re starting a new business)
Highlight: MailChimp focused its review on marketing for small businesses. Some of the most helpful advice involved successfully introducing a brand, and it offered 4 tips:
- “Broadcast your beta”: Engage with potential customers while you’re still developing a product. Better yet, have them test it with you.
- “Build anticipation”: Give a sneak peek of the work you’re doing behind the scenes to prepare the product.
- “Evolve your brand as you grow“: Re-evaluate your product and strategy before every new launch.
- “Consider the entire customer journey”: Think about building long-term customers and aim your product in that direction.
One other note: MailChimp also shared a list of the top 10 states for starting a business right now, according to WalletHub. These states were selected because of their combination of access to resources and low business costs.
Highlight: American bath culture
Facebook chose baths as a popular new trend for the United States. Conversations about self-care and bath-adjacent ingredients, like sea salt and chill-out music, were on the rise.
These trending conversations follow an increase in demand for clawfoot bathtubs.
Why the rise in interest? During this time of political discord, people are seeking new ways to relax.
Skincare addiction was the most popular beauty community on Reddit. And within skincare topics, acne and cystic acne were both rated in the top 5.
Opportunity exists around treating adult acne or treating acne with specialized treatments (we brought this up in a Signal). It’s generally considered a teenage problem, but many people deal with acne into adulthood. And while many products exist, including pimple patches, many are of questionable quality. There are opportunities to create better products that serve this market.
+ Don’t miss our Trends deep dive on the broader business of beauty tech. Sales of skincare, haircare, makeup products, and more have the industry poised to reach $863B by 2023 — and there’s still no single platform that caters specifically to the skincare community. That leaves a big opportunity for someone to build a place where consumers can share tutorials and regimens, or schedule recurring product orders.
Highlight: Fortune talked to investors, financiers, and VCs. Ramneek Gupta, managing director at Citi Ventures, suggested that Silicon Valley’s “move fast and break things” strategy will be on its way out and that founders and CEOs should be more cautious.
Here is his full advice, along with more smart predictions from Fortune:
“In 2020 I think we’ll see fewer companies and entrepreneurs using the “move fast and break things” model. While this ideology has never worked in financial services, we’re seeing that it is having continued negative repercussions for big tech. With privacy and regulation becoming a top concern for consumers, more companies will be pumping the breaks before launching into new business plans. With behavioral, technological and industrial shifts happening constantly all around us, I believe that in 2020 we will see more companies weighing their next move before jumping into a product launch, IPO, or brand pivot.”