Weekly Trends - Spotify WRAP-ing up 2020, the rise of the Beauty Fridge, pole position for Polestar...and more š¼
Trend #1- Spotify Wrapped
Spotifyās annual āWrappedā feature allows listeners to look back on their favourite music from the year. āWrappedā has become one of Spotifyās more anticipated releases among those who use the service regularly, as it allows users to explore their own top songs, top artists, top genres and minutes listened for the year. Many users also like to share their āWrappedā findings on social media, like Facebook, Instagram, Twitter and Snapchat.
Spotify Wrapped has been Strongly Rising (487.0%) in the last year. It is experiencing Rising (14.1%) this month as compared to the previous month with an average Search Volume of 246K, it is a trend to look up in the future because of its high growth speed.
What's Happened?
The market leader in music streaming, Spotify had 144 million premium subscribers worldwide as of the third quarter of 2020, up from 113 million in the corresponding quarter of 2019. That means not just a lot of customers but also customer data. The most popular product which utilises this fact is the Wrapped feature, where both fandom and 'shareability' create a viral effect driven by the user base.
What's Next?
With Spotify's subscriber base increasing in the last few years and more than doubling since early 2017, thereās no sign of a slowdown. Wrapped grows in popularity in direct correlation to the userbase - so Digital Marketers can exploit this guarantee around their own brand campaign planning.
Trend #2 - Beauty Fridge
Beauty Fridges are the latest trend to take Instagram by storm. They began to do the rounds on social media earlier this year, and have become ultra-covetable for beauty addicts and anyone in the know. But what actually are they? Well, quite simply, a beauty fridge is a dedicated fridge you keep certain products (mostly skincare) in. It is usually mini, in a pastel colour, and filled to the brim of the most talked about millennial brands, such as Drunk Elephant, Glossier, and Herbivore.
The beauty fridge has been Strongly Rising (82.6%) in the last year. It is experiencing Stability (2.3%) this month as compared to the previous month with an average Search Volume of 8.1K, it is a trend to look up in the future because of its high growth speed.
What's Happened?
A perfect e-commerce cocktail. Partly driven by Black Friday leftovers, partly by the festive season, but mostly by the rise of the beauty fridge. The beauty industry, spurred by online shopping habits, is valued by as much as $532billion and there is a problem both with the environmental impact this has as well as the inevitable short product life cycle. One (small) solution is these minifridges.
What's Next?
With its soft palette and appealing aesthetic, the beauty fridge has become somewhat of an Instagram favourite. E-Commerce and dropshippers will always note items that come under the beauty category will always have strong demand. The influence of organising guru Marie Kondo is also driving demand, as people seek aesthetically pleasing storage.
Trend #3 - Polestar
Polestar is a Swedish automotive brand owned by Volvo Cars and by extension its parent company Geely. It is headquartered in Gothenburg, Sweden with vehicle production taking place in Chengdu, China.
Polestar has been Strongly Rising (67.7%) in the last year. It is experiencing Stability (3.1%) this month as compared to the previous month with a Search Volume of 49.5K, it is a trend to look up in the future because of its high growth speed.
Top Competitors
- Tesla
- Lucid
- BMW
- Rimac
- Audi
What's Happened?
Polestar has had a big year, with a release of not one but two of its flagship cars. The Polestar 1, a hybrid coupe, is the first part of this plan, but thereās a catch: they're only making 1500 of them. Why, you ask? Well. Quite. Itās a question that is dumbfounding many motor enthusiasts and might be one of the reasons itās had such an increase in search volume - especially when itās been getting such positive reviews. The fully electric Polestar 2, however, is far more straightforward. Itās been named as Norwayās car of the year.
What's Next?
As the 2030 ban on new petrol and diesel cars looms, Polestar could be the right brand at the right time. Whilst there are brands with greater notoriety like Tesla or BMW, Polestar being a relative newcomer to the market means thereās only opportunity to grow in recognition.
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