Apps are connecting consumers by allowing them to share recommendations
Trend - Brands in the technology space are launching apps that allow close-knit social circles, comprised of family and friends, to share their recommendations on movies, restaurants, and more. These platforms aim to replace the anonymous review systems many may have relied on in the past.
Insight - In favor of the element of human touch, consumers are more likely to turn to traditional word of mouth recommendations over curated, artificial intelligent suggestions, or online reviews. Consumers are craving authentic, unbiased recommendations and are no longer naive to fake reviews and other marketing ploys. As a result, these consumers are looking for ways to easily rely on the advice of their social circles and are looking at brands to provided streamlined solutions.
Insight - In favor of the element of human touch, consumers are more likely to turn to traditional word of mouth recommendations over curated, artificial intelligent suggestions, or online reviews. Consumers are craving authentic, unbiased recommendations and are no longer naive to fake reviews and other marketing ploys. As a result, these consumers are looking for ways to easily rely on the advice of their social circles and are looking at brands to provided streamlined solutions.
Workshop Question - How can your brand leverage the influence of friends and family to reach consumers?
Trend Themes
1. Social Recommendation Platforms - Consumers are looking for ways to easily rely on the advice of their social circles and are looking at brands to provide streamlined solutions.
2. Personalized Recommendation-based Services - Consumers are demanding personalized, authentic recommendations and are no longer naive to fake reviews and other marketing ploys, emphasizing the use of word-of-mouth recommendations.
3. Social Network-based Recommendation Apps - The trend of social network-based recommendations is on the rise, providing consumers with access to tastemakers who have a knack for finding quality content.
Industry Implications
1. Social Media - Social media companies can leverage the trend of integrating social circle-based recommendations and personalized recommendations to boost user engagement and loyalty.
2. Entertainment - The entertainment industry has the opportunity to capitalize on the growing demand for personalized recommendations and streamline selection processes.
3. Retail - Retailers have the chance to create new revenue streams by allowing customers to earn a percentage of the sale of an item if their recommendation is used.
