There are 4 macro trends at play - and one of them may surprise you...
What’s hot in Education?
Trends in education aren’t always the most effective or the most innovative. They’re just popular. Let’s start with some of the trends driving education that we think are also effective and innovative.
This nifty graphic from teachthought does a good job:
Two of our particular favorites:
Instead of a one-size-fits-all model, adaptive learning leverages artificial intelligence to serve up learning suitable to the unique needs of an individual through just-in-time feedback, pathways, and resources.
Learn as you go
Learn anywhere, everywhere suitable to your time. Imagine the way we interact with messages and social media on our phone in a variety of synchronous, asynchronous ways but for edutainment.
Two Categories, Four Trends
4 big trends pushing forward beyond the education industry. They’re positioned in two main categories, Tech and Social.
Web3: This, in the context of Ethereum, refers to the decentralized iteration of the world wide web that runs on the blockchain and includes token-based economy features.
Immersive Tech: This refers to technology that expands the physical world through AR and VR that engages multiple senses in users.This refers to technology that expands the physical world through AR and VR that engages multiple senses in users.
Gamification: This is the strategic enhancement of activities to create experiences similar to those when playing games, which motivates and engages users.
Homebody Economy: This refers to the strategic and incremental spending habits of people who stay at home and buy what they need online.
You’re probably familiar with the first 3 trends to some degree, but what about that fourth one?! To learn more about the Homebody Economy, hit the toggle below.
Why is this included?! And what’s the Homebody Economy, anyway?!
‘Homebody economy is here to stay’ McKinsey 2020
Greater self-awareness drives new behaviors. (source)
“Seeking inspiration and stimulation, individuals have been looking for ways to help break the day-to-day monotony while staying safe and close to home. Exercise has been a focal point for many — myself included — and one only has to look at home workout and fitness equipment companies' soaring revenues for proof...Since last year, Peloton's revenue has grown 172%, and their membership has increased to more than 1 million subscribers. DIY projects and home improvements are also surging in popularity as people redirect vacation funds to invest in where they live.”
1. Customer Experience
As countries continue to face the ongoing impacts of the pandemic, it looks as though the homebody economy is here to stay. A report by the United Nations Conference on Trade and Development (UNCTAD) states that some version of these changes will be permanent.
This all adds up to customer-facing brands having to incorporate digital customer experiences into their overall customer experience (CX) strategy sooner rather than later if they're going to be able to address consumer behaviors and meet their expectations born from this seismic societal and economic shift. (source)
2. Consumer Electronics
Spending on consumer electronics will only enhance the at-home entertainment experience. McKinsey also forecasts that the online entertainment and wellness habits adopted during the pandemic — think the TV watching and streaming surge and the turn to digital fitness apps and social channels — will remain for medium to long term. (source)
3. Advice & Guidance
In order for businesses to really capitalize on these growing markets, they are going to have to focus on education and engagement. Lots of consumers are new to things like baking, gardening, home improvement and pet care, and while they spent heavily in these markets during the pandemic, to keep them really invested, they’re going to need help, advice and instruction. (source)