?3 2024 Trends To Ignore?
Welcome to The Pulse! Here is the latest update on what is ticking in the world of consumers, technology, and business. In this issue, we put a slightly different spin on trends. Have a look!
Our Tops,?Flops & Opinions Of The Month ????
?? Stat of the month
Gen Z is - unsurprisingly - leading the list of which generation spends most time in front of their screens, with a bit more than seven hours daily. They probably gain a big part of how they perceive the world from mobile screens and what they bring with themselves, social media, an attention economy and so on. Therefore, they are also a main driver of the “trends” we discuss in the following.
?? 3 2024 Trends To Ignore
In times of ever-evolving trends, it's easy to get swept away by the tide of sensational declarations. This year, let's set our compass right by dismissing three overhyped notions – from the exaggerated fear that AI is poised to "eat the world"?to the tale that old media and content are "on the deathbed."
?? AI will eat the world
After 2023 was the year of unquestioned hype and support for generative AI and conversations being dominated by its power and what-not it can do and how massively it will change our world, this year, the conversation is changing. After this massive high, people start questioning the stuff they just saw on a surface level, they try to look behind the?motivation of tech guys?and realize that there are a lot of jobs that AI?cannot?and?will not replace?any time soon but will rather play a supportive role for human workers in a lot of areas.?MIT research?shows that also, simply because it would be too expensive, AI will not wipe out the need for humans at work, but has the chance to?substantially increase productivity, as controlled experiments by Harvard Business School showed. While generative AI is undeniably transformative, the notion of it "eating the world" this year is unrealistic.
?? Don't overinterpret trends - Just because something is trending, it is not a trend
Brands' obsession with what's cool on social media led to them?abusing the word "trend" and reading too much into TikTok trends, misinterpreting them for cultural trends. We came to?confusing what's trending online with real, cultural trends. In the end, all these videos are just forms of attention or money-seeking and don't say anything about the zeitgeist of any generational cohort. People and brands must understand that?bed rotting?is not a trend but a way for influencers to gain attention - and therefore views, impressions, likes, and more which translate to money - through a fancy name for a lazy day. It also trivializes or even?glorifies a sign of several mental health issues. Also the highly popular "deinfluencing" is not a cultural trend, but yet just another way of influencing and making money for influencers and brands with yet another content form twist.
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?? The death of content and old media
As many - also our highly respected?Scott Galloway?- predict, the time of old media and content as we know it will soon be over due to the consistent popularity of social media, content creators, and?the ways people consume content?because of this. We think a bit differently. We agree that there are for sure changes happening, but classic content will not die. First of all, it is more about the content than the medium. We recognized a lot of people posting about how they watch full old and new movies or shows on TikTok,?like Mean Girls, Friends, or The Bear by scrolling through one-minute snippets (and note that?TikTok video lengths are getting longer?and longer). Besides old content not being dead, social media with classic "TikTok content" also functions like TV. Influencers work with cliffhangers in their videos and Reels to encourage followers to continue watching their content, the scrolling can be compared to zapping through channels, and all forms of media - no matter if TV or TikTok - play for attention and use people's sensationalism to keep watchers entertained.
?? Video of the month
As seen here: Not all trends - in this case: hyped companies - are actually persistent and succesful.
Snippets Of?Signs ??
?? Speaking about trends, there is a Gen Z trend we cannot withhold from you.?Gen Z's shift towards group chats?is a clear reflection of their desire for genuine connections, privacy, and control in an era where mainstream social media has become more about content consumption than meaningful interactions.
???????? Hinge's One More Hour initiative?shows a commendable commitment to addressing Gen Z's loneliness crisis by actively promoting real-world connections, which is a refreshing departure from the virtual dating landscape, AI companions, and such things.
?? We already know that Gen Z spends quite some time in front of their mobile devices. Numbers show that?the average time was seven hours per day?(!!) in 2023 - which is almost a third of their day. We need to start thinking about a balanced approach to technology consumption among younger generations.
?? Instagram's attempt to?streamline 'finstas'?seems like a desperate way to monetize the raw and unfiltered essence that made them authentic in the first place.
????♀?And yet again a regular, everyday activity that has been around forever -?talking a walk?- dubbed under the term "trend" to monetize it.
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