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15 INDUSTRY
UPDATES
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15 INDUSTRY UPDATES
While major consumer trends are typically cross-industry, we know you enjoy
anything that is specific to your own industry or sector. Hence you will enjoy our
dedicated Industry Updates, which you’ll receive four times a year. These interactive
PDFs, covering 15 major B2C industries - from Food & Beverage to Financial
Services - feature major consumer trends (as featured in our Innovations Database)
and apply them to industries, using industry-specific examples from all over the
globe, as well as stats and opportunities to run with.
Automotive
Media & Entertainment
Manufacturers, Vehicle Rental & Sharing.
Music, Television & Film, Social Media, Gaming, Books,
Newspapers & Magazines.
Beauty & Personal Care
Cosmetics, Grooming & Personal Hygiene.
Consumer Electronics
Audio/Visual Hardware, Computing & Software, Domestic
Appliances, Gadgets
Mobile & Telecoms
Handsets & Accessories, Network Providers.
Nonprofit & Social Cause
Charities & Social Enterprises, Corporate Social Responsibility.
Fashion
Transport
Accessories & Jewelry, Apparel, Footwear.
Airlines, Boats, Bikes, Buses & Coaches, Shipping Companies,
Rail & Metro.
Financial Services
Credit & Loans, Mortgage & Insurance Companies, Retail Banks.
Food & Beverage
Bars & Restaurants, Supermarkets.
Travel
Airports, Holidays & Tourism, Hotels.
Home & Garden
Government & Public Sector
Domestic Care, Interiors & Furniture, Architecture, Real Estate &
Construction.
States & Councils.
Education
Health
Fitness & Wellbeing, Medical & Pharmaceuticals.
Academic Institutions, Learning Platforms.
INNOVATION DATABASE
FINANCIAL SERVICE
Sample
FINANCIAL
SERVICES
industry uPdAtE
nOVEMBEr 2013
EXCLUSIVE TO
TrEndwaTChIng.COm
PrEmIUm CLIEnTS
INNOVATION DATABASE
WELCOME PAGE
wELCOmE
Sample
Welcome to trendwatching.com’s Financial Services Industry
Update, exclusively for Premium clients.
this update provides an unmissable window on key trends,
insights and innovations in the Financial services industry, drawn
from trendwatching.com’s innovation database, with examples
from each of the 16 mega-trends in our trend Framework.
the update is hyperlinked throughout, making it easy for you to
explore all the additional content you have access to as a
Premium client, including the innovation database (featuring
9,000+ examples).
Enjoy, and good luck!
SEE ALL FINANCIAL
SERVICES ExAmpLES:
ONLINE
View all Financial Services
examples in the Innovation
database, indexed by trend.
www.trendwatchingpremium.com
trendwatching.com FINANCIAL SERVICES INduStRy uPdAtE: November 2013
2
INNOVATION DATABASE
TABLE OF CONTENTS
COnTEnTS: TrEnd framEwOrk
STATUS SEEKERS
the relentless, often subconscious, yet ever-present
force that underpins almost all consumer behavior
bETTERmEnT
the universal quest for self-improvement
YOUniVERSE
Make your consumers the center of their yOuniVErsE
lOcAl lOVE
Sample
hUmAn bRAndS
Why personality and purpose will mean profit
bETTER bUSinESS
Why ‘good’ business will be good for business
UbiTEch
the ever-greater pervasiveness of technology
infOlUST
Why ‘local’ is, and will remain, loved
Why consumers’ voracious appetite for
(even more) information will only grow
plAYSUmERS
fUzzYnOmicS
Who said business had to be boring?
EphEmERAl
Why consumers will embrace the here,
the now, and the soon-to-be-gone
hElpfUll
Be part of the solution, not the problem
JOYninG
the eternal desire for connection, and
the many (new) ways it can be satisfied
the divisions between producers and consumers,
brands and customers will continue to blur
pRicinG pAndEmOniUm
Pricing: more fluid and flexible than ever
TRibES & liVES
the endless new market segments, and
the opportunities that lie within
REmAppEd
the epic power shifts in the global economy
INNOVATION DATABASE
EXAMPLE PAGE
Sample
finAnciAl SERVicES indUSTRY UpdATE / nOVEmbER 2013
4
STATUS
SEEKERS
ThE rELEnTLESS, OfTEn SUbCOnSCIOUS, yET
EVEr-PrESEnT fOrCE ThaT UndErPInS aLmOST
aLL COnSUmEr bEhaVIOr
erste bAnk
Bank taps customers to crowdsource
innovative ideas
the desire for recognition and status is a deep and universal
human need, and in consumer societies, people derive much of
their social status through the goods, services and experiences
they consume. indeed, with the abundance of choice in modern
economies, consumption becomes as much a statement of
identity as about accumulation.
status and wealth are obviously intrinsically linked, but
financial services brands should also consider how else they
could help their customers get their status fix, as American
Express (opposite) are doing. think how to give your customers
exclusive experiences, and allow them to flaunt their good taste
and expertise or proficiency in other ways too.
AmericAn express
Financial services provider encourages
consumers to pursue their passions
September 2013 saw Erste Bank introduce
the ‘innovation lab’ which gives customers the
opportunity to participate in shaping the future
of the Austrian financial institution. Individuals
can make suggestions for new products, review
or give feedback on Erste Bank’s innovation
projects and contribute their own ideas. Each
time they participate, customers are awarded
points and virtual trophies, with a leaderboard
showing the most active participants.
In June 2013, American Express launched a
contest offering ten people each month the
financial means to pursue their passion. The
six-month #PassionProjects campaign asked
participants to explain their passion and its
importance in 120 characters or less. Winners
were awarded USD 2,000 gift cards, enabling
them to enjoy a meaningful hobby or activity.
View STaTUS SEEkErS mega-trend & related trends »
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trendwatching.com FINANCIAL SERVICES INdUStRy UPdAtE: November2013
INNOVATION DATABASE
EXAMPLE PAGE
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finAnciAl SERVicES indUSTRY UpdATE / nOVEmbER 2013
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bETTERmEnT
ThE UnIVErSaL qUEST fOr SELf-ImPrOVEmEnT
show us a consumer who doesn’t aspire to self-improvement.
kidzAniA & yes bAnk
the drive to improve oneself can manifest itself in a number of
Children’s theme park partners with bank to
teach financial literacy to Indian children
ways, such as the desire for better (financial) health, for greater
knowledge, and/ or the development of new skills. Brands and
products that satisfy these needs will therefore simply appear
‘better’ than those that don’t ;-)
For financial services brands, catering to this desire can take
many forms, from helping consumers monitor relevant data,
providing more (and better, more timely) information about
spending or saving, or helping people make better financial
decisions.
View bETTErmEnT mega-trend & related trends »
www.trendwatchingpremium.com
AetnA
Insurance company’s mobile app allows users
to monitor health data
Available to download from June 2013, CarePass is a
free mobile app which enables consumers to monitor
health-related data. Created by US-based health
insurance provider Aetna, the app allows users to set
their own personalized wellness goals and then shows
suggestions of how they can achieve these. CarePass
directs users to other relevant fitness and health apps
which are then connected into the app, meaning that
data can be tracked in one centralized hub. The app also
features a community where individuals can connect
with others using CarePass, seek advice or give tips.
In Q3 2013, children’s theme park KidZania opened
in Mumbai in collaboration with India-based YES
Bank. Designed as a functional city landscape
with paved streets, vehicles and its own KidZos
local currency, KidZania allows children to roleplay a range of professions while learning about
finances. YES Bank-branded ATMs and storefronts
enable kids to act as bank tellers or customers,
withdraw KidZos and cash travelers checks.
Children also learn to manage money by earning,
spending and saving KidZos during their visit.
trendwatching.com FINANCIAL SERVICES INdUStRy UPdAtE: November 2013
INNOVATION DATABASE
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finAnciAl SERVicES indUSTRY UpdATE / nOVEmbER 2013
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YOUniVERSE
makE yOUr COnSUmErS ThE CEnTEr Of ThEIr
yOUnIVErSE
the yOuniVErsE is each person’s consumption realm, where
indusind bAnk
his/her preferences and tastes reign. Cater to an individual’s
Bank allows customers to select their
own account number
yOuniVErsE with brilliantly customized products, by enabling
and encouraging personal expression, or by offering protection
June 2013 saw India’s IndusInd Bank launch
My Account, My Number: a free service
allowing customers to personalize their
unique bank account number. New customers
signing up to the scheme can select up to ten
numbers of their 12-digit account number,
based on their favorite or ‘lucky’ numbers.
from harm. But whichever route you take, remember: each
consumer is yOuniQuE.
View yOUnIVErSE mega-trend & related trends »
bArclAycArd
Barclaycard launches personalized daily
deals brand
In May 2013, Barclaycard launched Bespoke
Offers: a tailored deals brand that offers UK
customers relevant prepaid deals and discounts
based on their preferences and previous
spending habits. Deals can be accessed through
personalized daily emails or via a dedicated
smartphone app, and can be purchased
using Barclaycard’s bPay payment system.
www.trendwatchingpremium.com
trendwatching.com FINANCIAL SERVICES INdUStRy UPdAtE: November 2013
INNOVATION DATABASE
EXAMPLE PAGE
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finAnciAl SERVicES indUSTRY UpdATE / nOVEmbER 2013
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lOcAl lOVE
why ‘LOCaL’ IS, and wILL rEmaIn, LOVEd
despite globalization, despite online; place still matters. Whether
driven by a sense of pride, authenticity, convenience and/ or ecoconcerns, consumers will continue to embrace ‘local’ products,
services and knowledge.
While financial services brands often operate at a national (if not
global) level, supporting and celebrating local businesses and/ or
culture will help cater to consumers’ LOCAL LOVE.
View LOCaL LOVE mega-trend & related trends »
chiAntibAncA
Italian bank branches are inspired by local
restaurants
June 2013 saw Italian bank ChiantiBanca unveil the
‘restaurant banking experience’ – a series of branches
inspired by the interior design of local eateries. The
spaces incorporate natural and sustainable materials,
a pastel color palette, soft lighting and a wall-mounted
digital communication system. Tables, bar stools and
cushioned chairs replace traditional cash desks, with
banking brochures resembling restaurant menus.
www.trendwatchingpremium.com
trendwatching.com FINANCIAL SERVICES INdUStRy UPdAtE: November 2013
INNOVATION DATABASE
DON’T FORGET
finAnciAl SERVicES indUSTRY UpdATE / nOVEmbER 2013 / dOn’T fOrgET
Sample
21
doN’t FoRgEt, innovations that inspire new products, services and campaigns can come from any industry!
Here are eight non-FINANCIAL SERVICES examples from the 9,000+ innovations in our Innovation database.
misfit weArAbles
AmAzon
em michelle phAn
google
Wearable activity tracker
syncs with iOS devices »
Amazon’s Storyteller feature
automatically transforms
scripts into storyboards »
Beauty vlogger’s debut make-up
range incorporates fans’ feedback »
Google’s low-cost dongle transforms
televisions into smart TVs »
british AirwAys
linkedin
ikeA
veuve clicquot
Airline’s digital moodboard
enables customers to create
their perfect vacation »
LinkedIn’s University Pages
allow students to compare
college graduates »
IKEA’s AR app allows customers to
try out furnishings in their home »
Veuve Clicquot unveils biodegradable,
isothermal packaging »
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trendwatching.com FINANCIAL SERVICES INduStRy uPdAtE: November 2013
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