Cyclic Trends - What Was Once, Is Now Again!
There are many different kinds of trends. Some trends can be forecast or predicted in the short term, some in the long term, and some not at all.
The most obvious example of a cyclic trend is the seasons -- spring, summer, fall, winter. The same seasons keep repeating over and over again. Furthermore, they're completely predictable: you can always be certain the next Spring will start exactly one year after the last Spring began.
Here are some other examples of cyclic trends:
Fashion trends tend to be short-term, usually lasting one or two seasons. Fashion trends may be one-shot,
such as the Nehru jacket,or may be cyclic such as skirt length, or
acid wash jeans (?). Generally, they're completely unpredictable.
Political trends are usually cyclic, with varying cycle lengths. You frequently hear the phrase "the political pendulum" to capture the cyclic nature of political trends. Some political trends are roughly predictable: e.g., the American President cycles between Republican and Democrat every 2-4 elections.
Economic trends can often be cyclic. For example, there's an economic recession every ten years or so. A more complex example are the Kondratieff Cycles, which measure the inflation rate and have a cycle length of 40-50 years.
Generational trends tend to have a cycle length of around 80 years, the length of a human lifetime.
And so on…And it rings true for the meetings and events industry as well.
Remember the “decadent” 80’s? Well, Luxury is back! Back cautiously, but back. So is neon (but that will have to be saved for another post).
Considering that budgets are stronger, bookings are up, and meeting sizes are trending up, consider also the flip-side; roots are still firmly planted in the era of accountability.
“Our conversations with clients always come back to justification of the spend and the emphasis on value, both in terms of a dollar amount and in terms of how well a meeting achieves its objectives and contributes to broader corporate goals,” says Susan Prue, Senior Sales Account Executive with VDA Productions. “They are conversations that we have been having with our clients for almost 30 years, so it is naturally worked into the fabric of our process.”
So, while luxury in the meetings and events industry may be making a comeback in 2012 (like shoulder pads), it is safe to say with a more cautious tone – Wish I could say the same about some of the fashion trends for this year.
Contact us for more information about providing value to your audience by working with a trusted design partner that understands and implements the technology and services needed to enhance the experience of your entire event! The possibilities are infinite, so let’s start a conversation today about how we can help you realize your meeting, conference, and event goals.