It's just so cool!” An expression that is classy yet class-less and defines norm. It reflects being trendy and is symbolic of instant acceptance by folks who matter. Just about everything today is getting directed at cool dudes and cool babes with marketers running all over the place to get a hook on their attitudes, lifestyles, dispositions and ultimately their consumption patterns.
And just who are these ‘cool' folks? For marketers it is the 14-34 age-band, the most potent consumers with a consumption appetite higher than any other age group. Plus, their numbers are significantly larger than the rest. This logic of numbers is most appropriate for India as a substantial percentage of our population in this age-band. Also, people above and below this age band aspire to be in this band.
Not surprisingly, a whole body of research has sprung up observing the cool population and predicting the evolution of new or existing trends. Coolhunters, as these researchers are popularly called, operate in areas as wide-ranging as street fashion and technology. So the next time you see a vibrant new colour on a trendy motorcycle or a shapely SUV, or an out-of-the-ordinary fashion accessory or even come across a compelling mutual fund pitch — be aware that there is a smart coolhunter who has been working on it behind the scenes.
We will be bringing you some of those trends too. In the articles to follow we will map trends such as ‘cash-less consumerism' or ‘deal-seeking phobia' or ‘recommerce — trading in to trade up'.
But to start with, we feel it is most appropriate to talk about the major trend that has emerged in the last decade and has completely redefined Indian consumer profiling — the practice of Rejection! Rejection is a relatively recent phenomenon that has now become commonplace but not too long ago was considered alien to the Indian psyche. Loyalty was a virtue that distinguished the Indian consumer from her/his counterparts in the Western world but not anymore. The ‘cool' Indian is now rejecting with aplomb and perhaps without any guilt or emotion. So it is not surprising that the long-serving Allwyn refrigerator was substituted by an LG without a trace of regret or the Fiat by a Maruti and then when one upgraded one did not consider the satisfaction levels with the 800 cc version of the car and upgraded to a Hyundai Ascent or a Honda City rejecting the hard-working, ever-reliable Maruti. Whether it is dropping that familiar restaurant on the neighbourhood market square that one frequented regularly (and was treated as a ‘favoured guest') to be substituted by this new swank joint that is more expensive or it is not visiting Orkut in the last one year after having voted it the MTV Youth Icon of the year in 2007 — rejection is ruthlessly in. In fact, the politicians in our country caught this trend much earlier and christened it the anti-incumbency factor while the marketers were struggling to come to terms with it. We will catch more of this ‘rejection action' in our future dispatches along with many more trends. Stay in the coolhunt, folks!
(Giraj Sharma is an independent brand consultant who is a compulsive coolhunter.)