(Finance) – Nostalgia, inclusiveness, economic uncertainty and a return to analogue are the keywords for consumption in 2023 which will be led by the Millennials. Generation Y members – born between 1981 and 1996 – thanks to a higher disposable income have finally established themselves as the new dominant consumers. To draw this picture were Catawikithe platform for auctions of special items, e Ipsosa market research institute, who have joined forces to predict the consumption trends that will define the coming year.
”We are thrilled to have partnered with Catawiki to produce the 2023 Trend Report. Combining our experience in qualitative research with the solid expertise of Catawiki’s experts,” he said. Thom Bremer, Research Executive at Ipsos – we have developed a tailored research approach that has allowed us to predict consumer behavior for the next year in the world of luxury, art, design, automotive and much more”.
Research from a variety of sources was combined to determine these trends: from multiple reports and data in Ipsos databases to insights from industry leaders and various Catawiki experts. They have emerged five dominant consumer trends.
Beyond the normal – 2023 will be the time to express an individual style: maximalist design with eclectic and bright colors, patterns and contrasting styles like Sottsass pieces; flamboyant genderless and gem-embellished clothing, where prints and brands flow into each other, effortlessly combining Moschino and Margiela; technological art created thanks to the new generative artificial intelligence platforms capable of creating portraits on the walls. “Genre-specific collections are no longer relevant, fluidity,” he said Lorenzo Altimani, Catawiki Fashion expert – has become a must-have as we recently saw on the SS2023 catwalks through sheer fashion for men, trompe l’oeil prints and both male and female models wearing the same garments.”
nest – People’s relationship with their home has changed forever with the pandemic and they are increasingly looking for pieces aimed at creating a serene environment. Also because, due to the uncertain economic situation, it is expected that in 2023 people will stay more at home: rounded furniture as numerous psychological researches show that the human brain is predisposed to associate roundness with happiness and relaxation; minerals, stones and tarot cards following the increased interest in spirituality and objects that reflect it; analogue pastimes such as board games and model trains and holiday villages to unwind. In 2023 FOMO is replaced by JOMO (joy of missing out). “Interest in analogue pastimes is growing. People – he said Guido Gamba, Catawiki’s model railway expert – are looking for simpler activities, to counteract all the time they spend in front of a screen”.
Back to the early 2000s – Millennials are the new dominant consumers and next year is expected to see a return to the early 2000s: flashy cars like the vintage Jeeps used in Jurassic Park, the Japanese drifters featured in Fast & Furious and the vehicles made famous by blockbusters; fashion of the time with the re-presentation of the it-bag – above all the City bag by Balenciaga – and oversized sunglasses; digital age memorabilia such as compact digital cameras, cell phones and quality wired headphones that hark back to a carefree past. According to theCatawiki Classic Car expert, Franco Vigorito, the popularity of Japanese sports cars has opened up an interest in other lesser-known JDM cars as well: “It transcends classics like the 1994 Supra MK IV and opens up a whole range of desirable new cars like the early 00s Toyota Celica, the Subaru BRZ and the Mazda MX-5”.
New heroes, more narratives – There will be a celebration of change with underrepresented faces taking center stage: professional female athletes thanks to the sports industry and its memorabilia becoming more inclusive than ever; greater creativity and sustainability in the production of wine that comes from less traditional regions such as the United Kingdom, Southeast Asia, Japan, Taiwan and India.
Mattia Garon, Catawiki Wine Expert, he explained that winemakers “want to be free to follow their own way of thinking, without having to adhere to rules established by other people a long time ago. They produce on a small scale, but use the quality of the climate and soil to their advantage without aspire to a specific denomination”.
Alternative Investments – Many specialty items have risen in value in recent years to the extent that they are now regarded as sound investments: quality classic engines at a more forgiving price range, such as the Volkswagen Golf GTI MK1 and the 250cc Triumph Tiger Cub; celebration of youngtimers, i.e. vehicles approaching their 25th birthday; alternatives to whiskey to switch to cheaper bottles such as cognac, armagnac, grappa and beers produced with ancient methods; new memorabilia, such as the already iconic Cassette Bag by Bottega Veneta or a vintage brooch embellished with gems. “A good cognac from the 50s or 60s – he commented Enrico Gaddoni, Catawiki’s liquor expert – are still accessible today, but their value is expected to double or quadruple. It reminds me of what whiskey was like 10-15 years ago. So it’s time to invest.”