Where can your agency make a meaningful difference?
Over the past year and into this new decade, there has been a shift in the way brands produce their products, engage with their audiences, and market themselves to the public.
Where society once valued the titans of industry — whose profits towered their ethics — we see the new giants (ex. Facebook, Google, Apple, etc.) being held accountable for their actions economically and politically.
This realignment of purpose and morality not only shapes business functions but also transforms the visual imagery of a company. Logos appear simpler and softer. Taglines and slogans reflect acceptance and tolerance. Packaging becomes more ambiguous to the actual product. These are proponents of brilliant design and strategy.
We’ll analyze three industries experiencing incredible growth, why they are at an all-time high, and where freelance designers and branding agencies can contribute over the next two to five years.
1. Cannabis and CBD Products
The retail market for marijuana is booming. The legal market, that is.
With 11 states legalizing the drug for recreational use and 33 legalizing it for medical use, entrepreneurs are looking to capitalize.
With shows like Weeds and blockbuster movies such as Pineapple Express, the cannabis industry continues to shed its social stigma. According to the Pew Research Center, two-thirds of Americans believe the use of marijuana should be legal. Public perception has positively increased over the past decade with U.S. opposition to legalization falling from 52% in 2010 to 32% today.
The surge of cannabidiol (or CBD for short) — particularly in high-end lifestyle products — has been astronomical.
Cannabidiol (CBD) is the non-psychoactive “cousin” of THC, the chemical found in the marijuana plant. CBD has taken over the industry because of its spread from mostly head shops to natural food stores, beauty products, cafes, and even doctor’s offices.
2. Esports Gaming
Online gaming has transformed into a spectator sport.
Expected to reach $1 billion in revenue this year, esports events regularly have millions of dollars invested.
It can be hard to imagine why anyone would want to watch someone else play a video game and have it be as enjoyable as watching Lebron James or Steph Curry play basketball. In the way traditional sports fans watch top athletes compete, the same is true for gamers.
In fact, more people watched the 2016 League of Legends (43 million viewers) world finals than the NBA Finals Game 7 (31 million viewers) of the Cleveland Cavaliers versus the Golden State Warriors.
Although the landscape is fragmented and purely digital, the esports market has shown it is full of monetization opportunities like sponsorships, merchandise, live events, and prize winnings.
3. Astrology and Horoscopes
We all know Big Data and Big Tech, but how often do we hear Big Zodiac?
Whether you believe in the “mystical services market” or not makes no difference when the industry is worth an estimated $2.2 billion. In recent years, the practice of astrology and readings have received a millennial facelift and a massive, tech-enabled boost.
Apps like Sanctuary and Co-Star are securing millions of dollars in funding. For $19.99 a month, Sanctuary allows users to receive a monthly one-on-one chat consultation with an astrologer. The app also provides free daily horoscopes and readings.
One of the world’s largest music streaming platforms, Spotify, launched a collection of 12 horoscope-inspired playlists early 2019. “Cosmic Playlists” feature a selection of music chosen with each zodiac sign in mind. The playlists were co-created by Spotify and beloved astrologer Chani Nicholas.
The campaign is designed to grow engagement amongst millennial users, given the growing popularity of horoscope apps and astrology. The playlists are intended to help users reflect on the direction of their lives and used them as a collection of “theme songs” for their month.
