Hannah Craggs is Head of Subscription & Content at TrendBible. She’s participating in a panel called ‘Forecasting the Future of Retail through Consumer Trends’ alongside Sainsbury’s Abi Wilson at the next European edition of Brand & Licensing Innovation Summit, taking place 21 June, at the Royal Geographical Society in London.
Tell us, who are you and how does your business fit into the licensing eco-system?
I’m Hannah Craggs, Head of Subscription & Content at TrendBible. TrendBible’s philosophy is one based on deeply understanding the mindsets and attitudes of consumers towards the future of life at home. Companies work with us to better understand future trends for their audience and what will drive their thoughts, tastes and behaviours. A strong grasp of future trends helps brands and organisations make informed commercial decisions. We work 2-5 years ahead of retail to research, decode and deliver how consumer signals will impact product design as well as services, strategies and solutions.
What are the biggest challenges and opportunities for the licensing industry right now?
The post or “inter” pandemic scape differs greatly from the approaches for retail and consumer connection we’ve known before. This throws up challenges but also exciting opportunities to do things differently. Some of the most talked about within our TrendBible team at the moment are:
International restrictions or interruptions to supply chains
Greater focus on sustainability
Greater focus on true diversity and allclusivity when creating products and solutions
How to establish and galvanise IRL (in real life)/immersive/experiential events after the pandemic that support consumer anxiety. This also links to consumers’ buying preference shifting from bricks and mortar to online.
What are the biggest trends you’re seeing in your business sector that impact brands and retailers?
This one’s a huge topic. At TrendBible we are constantly tracking this and some of the biggest trends I’d flag for 2023–2024 link to the above.
As climate change, global inflation and mass disruption to supply chains will have a direct impact on everyday lives and bank balances, there will be a redefinition of home from ‘nest’ or ‘family hub’. Instead, the home will be a space both on and offline that provides shelter, a place to seek solace, experience curated convenience and safety away from an uncertain world. This will lead to:
a consumer desire to embrace “savvy spending” and make more future-proofed product investments
the rise of resilience
the acceleration of tech overall and a greater sense of “tech-ceptance”
curated convenience. The acceleration of online commerce has put a spotlight on convenience, with Amazon setting a precedent for ultra-fast, on-demand, and no-nonsense delivery that keeps up with consumers’ changing habits
a desire for a localism and slower-paced lifestyles (as well as greater links to nature and sustainability)
Why are you looking forward to speaking at B&LIS?
I want delegates to feel inspired and excited about the responsibility of rebuilding during (and after) a period of volatility. In an age of uncertainty, rapid change and big societal issues, there’s a need to respond to urgency without panic. We need to be confident in saying hello to the next normal, which will be a journey of unlearning, relearning and radical questioning.