Global trend forecasting agency World’s Global Style Network’s country director Lee Chang-wook on July 2 presented “sustainable value” as one of the key future trends during the 2020 Mega Trend seminar held in Seoul.
In particular, he emphasized recognizing the importance of markets for consumers who had been placed on the back burner in the past, such as those with physical disabilities. “This market is currently worth more than $8 trillion and it is expected to grow further by 2020,” he said.
Lee also noted that global furniture brand Ikea already started targeting this market by coming up with items such as the “finger brush” and “curtain gripper” that can assist disabled customers using its products.
Moreover, he also presented cosmetics brand Lush, which decided to suspend influencer marketing that can confuse consumers with fake posts, and focus on improving offline services, as a good example that reflects the new trend of valuing sustainability by building trust with consumers.
Another key trend he suggested was the expansion of the reseller market. According to Lee, the market is already growing fast here, as over 230,000 products are currently being traded each day on average through popular Korean reseller platform Junggonara. In addition, he pointed out that the reseller market will quadruple by 2020.
After presenting various predictions, he also gave out some fashion and design tips that can be applied to actual business.
Established in 1998, WGSN has business operations in 150 countries. Last year, the company conducted around 250 consulting projects and aims to do more than 750 this year.
By Song Seung-hyun (firstname.lastname@example.org)