Spotting the latest consumer trends has become a major task in many corporations and more and more companies offer services that help in understand consumers and identify the next big thing that will have an impact on future products and services. I have already written about some websites that offer latest insight in consumer trends and just recently found an article written by Malcolm Gladwell about cool hunting and the search for the latest consumer trends. Even though the article is already 10 years old, the principles are still valid. If you have read his book “The Tipping Point” you will recognize a few of the case studies in this article.

The article still has a few interesting take aways:

This is the first rule of the cool: The quicker the chase, the quicker the flight. The act of discovering what’s cool is what causes cool to move on, which explains the triumphant circularity of coolhunting: because we have coolhunters like DeeDee and Baysie, cool changes more quickly, and because cool changes more quickly, we need coolhunters like DeeDee and Baysie.

The innovators do get their cool ideas from people other than their peers, but the fact is that they are the last people who can be convinced by a marketing campaign that a pair of suède shoes is cool. These are, after all, the people who spent hours sifting through thrift-store bins. And why did they do that? Because their definition of cool is doing something that nobody else is doing. A company can intervene in the cool cycle. It can put its shoes on really cool celebrities and on fashion runways and on MTV. It can accelerate the transition from the innovator to the early adopter and on to the early majority. But it can’t just manufacture cool out of thin air, and that’s the second rule of cool.

The key to coolhunting, then, is to look for cool people first and cool things later, and not the other way around. Since cool things are always changing, you can’t look for them, because the very fact they are cool means you have no idea what to look for. What you would be doing is thinking back on what was cool before and extrapolating, which is about as useful as presuming that because the Dow rose ten points yesterday it will rise another ten points today. Cool people, on the other hand, are a constant. […] Their non-cool coolhunter just didn’t have that certain instinct, that sense that told him when it was O.K. to deviate from the manual. Because he wasn’t cool, he didn’t know cool, and that’s the essence of the third rule of cool: you have to be one to know one.

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