Rock LaManna12.05.17
As we near the end of 2017 (where the heck did the time go?), I’m asking the experts to submit their 2018 printing industry trends for my blog. What’s hard about industry predictions is there is no quantifiable number you can attach to it. It’s not like a score to a football game, and for that matter, it’s difficult to predict winners and losers, because so many of these calls are about trends.
Or are they? In anticipation of trend season, I read an article by Jean Van Rensselar that highlighted “5 Ways to Predict a Trend.” Jean makes the distinction between a trend and a novelty. We see novelties every day – the viral videos and one-hit wonders – but what we really want to see as business leaders are the trends.
“A novelty is the tidal wave and a trend is what’s left on the beach after the tidal wave recedes,” Jean writes.
So what constitutes a true trend? Jean lists five aspects:
1. It is obviously useful – Hybrid cars are an example of a novelty becoming a trend. Upon their first introduction, the price of gas was low and price of the car was high. But as the cost of the cars became lower, hybrid sales began to grow. The product had become useful.
2. It has broad appeal and application – The novelty will focus on a small segment of the population, but a trend has a broader appeal, usually driven by cost. Jean cites cell phones as an example. When they were first introduced, they were extremely expensive and had limited application -- you paid a lot for a phone call to a select few. As mobile usage became more ubiquitous, suddenly you not only had more people buy them, but new applications developed – literally including apps, texting and videos. Bam! You’ve got a trend.
3. It is sustainable – A novelty will never make it to trend status if it can’t be “profitably mass produced.” Jean points to the biofuel industry, which cannot grow enough crops to mass produce the fuel.
4. It meshes with other trends – A trend must have the ability to integrate with other trends, a process called “trend blending.” The example in this case is filing taxes via e-File, which integrated tax filing software and spreadsheet programs. These in turn used cloud computing and other technologies to enable online tax filing.
5. It has some history – Trends are a bit like love songs. They’re not entirely new, but you typically don’t hear ones that are exactly the same. Trends may be a variation of an older, successful trend. Synthetic fabric, for example, is actually plastic. Polyester, acrylics and nylons have given rise to new synthetic fabrics like CoolMax, Ripstop and others.
Ok, so now you’re armed with what’s truly the difference between a novelty and a trend. Think about these traits as you read upcoming predictions for 2018. They’ll help you evaluate which ones to move on during the year, excuse me, years to come.
Rock LaManna is the author of L&NW's popular column, The Bottom Line. Rock helps printing owners and CEOs use their company financials to prioritize and choose the proper strategic path. He is President and CEO of the LaManna Alliance, and provides guidance on how to grow a printing business, merge with a synergistic partner, make a strategic acquisition, or create a succession plan. Rock can be reached by email at Rock@RockLaManna.com.
Or are they? In anticipation of trend season, I read an article by Jean Van Rensselar that highlighted “5 Ways to Predict a Trend.” Jean makes the distinction between a trend and a novelty. We see novelties every day – the viral videos and one-hit wonders – but what we really want to see as business leaders are the trends.
“A novelty is the tidal wave and a trend is what’s left on the beach after the tidal wave recedes,” Jean writes.
So what constitutes a true trend? Jean lists five aspects:
1. It is obviously useful – Hybrid cars are an example of a novelty becoming a trend. Upon their first introduction, the price of gas was low and price of the car was high. But as the cost of the cars became lower, hybrid sales began to grow. The product had become useful.
2. It has broad appeal and application – The novelty will focus on a small segment of the population, but a trend has a broader appeal, usually driven by cost. Jean cites cell phones as an example. When they were first introduced, they were extremely expensive and had limited application -- you paid a lot for a phone call to a select few. As mobile usage became more ubiquitous, suddenly you not only had more people buy them, but new applications developed – literally including apps, texting and videos. Bam! You’ve got a trend.
3. It is sustainable – A novelty will never make it to trend status if it can’t be “profitably mass produced.” Jean points to the biofuel industry, which cannot grow enough crops to mass produce the fuel.
4. It meshes with other trends – A trend must have the ability to integrate with other trends, a process called “trend blending.” The example in this case is filing taxes via e-File, which integrated tax filing software and spreadsheet programs. These in turn used cloud computing and other technologies to enable online tax filing.
5. It has some history – Trends are a bit like love songs. They’re not entirely new, but you typically don’t hear ones that are exactly the same. Trends may be a variation of an older, successful trend. Synthetic fabric, for example, is actually plastic. Polyester, acrylics and nylons have given rise to new synthetic fabrics like CoolMax, Ripstop and others.
Ok, so now you’re armed with what’s truly the difference between a novelty and a trend. Think about these traits as you read upcoming predictions for 2018. They’ll help you evaluate which ones to move on during the year, excuse me, years to come.
Rock LaManna is the author of L&NW's popular column, The Bottom Line. Rock helps printing owners and CEOs use their company financials to prioritize and choose the proper strategic path. He is President and CEO of the LaManna Alliance, and provides guidance on how to grow a printing business, merge with a synergistic partner, make a strategic acquisition, or create a succession plan. Rock can be reached by email at Rock@RockLaManna.com.