Following trends may improve your bottom line How much do you follow trends -- both in and out of our industry? At this year's OFA Short Course, Ball's market research manager Marvin Miller discussed how to spot trends, the impact they can have on our industry and what opportunities exist for companies to take advantage of trends. Miller said identifying trends can come from various sources. He said we should always look for them and also talk to people who are always looking for them. Your customers can be a very good resource for identifying trends. Miller said even though a national lifestyle magazine may proclaim blue as the "in" color for Christmas, it may not necessarily be the color choice for consumers in your area. Also, if something is popular on the East or West Coast, Miller said it may not necessarily catch on in other parts of the country -- "Will it play in Peoria?" Other ways to identify trends cited by Miller include reading a national newspaper (i.e., Wall Street Journal), traveling regularly and identifying and tracking statistics -- no doubt a favorite of Miller's and mine. He said business owners need to take the time to think about what's happening in regards to trends and consider the impact they could have on a business. Miller said one of the unique aspects of gardening is that it uses more of the senses than any other activity -- except maybe cooking. Unfortunately, he said, our industry doesn't market enough of the emotional connection our product has with consumers. If you're seeking information from people who're looking at trends, be sure that they are experts in their field. Miller said you should know the source and be able to judge his/her credibility. At this year's International Home & Housewares Show, Leatrice Eiseman, executive director of the Pantone Color Institute, said it is becoming more difficult to meet consumers' increasingly personalized needs. "Whether designing interiors or creating products for the home, satisfying consumers' or clients' more demanding perceived needs and desires in both styling and color is a major challenge," Eiseman said. "People are looking beyond a simple matching process to colors they can instantly connect with, suit their personal comfort level and excite the imagination. At the same time, there is the practical need to connect to products or settings they already own." Take advantage of trends Miller said trends create opportunities, niches, voids and risks. Trends that Miller said are worth noting include changes in lifestyle, retailing, environmental concerns and immigration reform. Based on the changes occurring, Miller said there are plenty of opportunities for all segments of our industry to provide spectacular customer service and personalization. The floral industry needs to do a better job of telling its story to the public. Miller said we need to get more inventive in our thinking. The result would be to create more excitement in and for our industry -- and more profit. Send this article to a friend Enter your e-mail address: Enter your friend's e-mail address: Click the image below to send: © 2007 Branch-Smith Publishing