Initially, coolhunting was meant to focus on fashion and design.
However, it has expanded to include other sectors such as technology and is a great tool to use in market research.
In this blog post, our market research company will discuss what coolhunting is, what methodology to use, and what results gained from coolhunting reports can be used for!
What is Coolhunting in Market Research?
Coined in the 1990s, coolhunting is a market research method that seeks to predict trends and styles.
This technique is also a subset of trend analysis and is also referred to as “trend spotting”.
Coolhunting aims to gather insights and research about the youth demographic.
What Methodology to Use for Coolhunting?
The youth demographic is often seen as a “stubborn” demographic as they do not typically respond to traditional marketing and advertising campaigns aimed at them.
For Coolhunting, focus groups can be a great way to get information as they provide direct insight into the thoughts and feelings of the youth demographic.
Furthermore, this allows cool hunters to monitor what individuals say and observe their movements and body language.
To get an even closer look into the youth demographic, cool hunters sometimes hire popular leaders or influencers to gather information secretly among their peers and report back their findings.
Another great methodology to use is online surveys.
Now, Gen Z (i.e., those born between 1997 to 2012) is dominating social media and their online presence is expected to grow.
Technology has been a part of Gen Z’s life from the start and they have become the most connected generation.
Therefore, market research firms like Drive Research can utilize more online platforms to interact with this demographic.
What Can Coolhunting Be Used For?
Insights gained from coolhunting are often bought and sold by companies in the hope of staying innovative, competitive, and figuring out what the “next best thing is”.
It might be surprising to know that many large companies also have in-house coolhunting departments, a good example being Viacom's MTV television network.
Overall, coolhunting is a great tool in market research and can be utilized for companies of all sizes and industries.
It also allows businesses to develop an in-depth understanding of a hard-to-reach, younger demographic which can lead to increased sales and success.
Drive Research is a full-service market research located in New York. Our team carries over 30 years of experience in the market research industry. We can confidently recommend the best methodology for coolhunting and execute the study from start to finish.
To learn more about our services, contact us today!
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