Whats Old Is New - And Its Hotter Than EverTheres no question that American consumers thirst for new products ? as the booming sales of camera phones and plasma TVs attest. But marketers are also noticing a growing demand for products from the past. This trend is affecting everything from cars to candy.
What is driving this trend? The desire to escape from the stress of the 24/7 workday. The need for a sense of permanence beyond the latest fad in technology. And, at a time when the headlines scream of terrorist attacks, corporate scandals, and war casualties, Americans are seeking the comfort and security of a more peaceful past.
Lets explore how the retro trend is affecting seven industries:
1. In household furniture and appliances, designs from the 1950s, 60s, and 70s are popular all over again, according to Time magazine."The mid-century look is finding its way into every room in the house," the newsmagazine reported in late April. Consider a few examples:
? One of the top-selling tableware lines at Marshall Fields is an updated version of Fiestaware, which adorned the tables of many homes in the 1950s. A Web site for Fiestaware collectors, mediumgreen.com, boasts of "107,472 messages posted by 5,782 registered users." ? KitchenAid has introduced a new line of kitchen gadgets, called Pro Line, that combine retro looks and high-tech performance. Its espresso machine features analog instead of digital displays, and rather than the sleek Euro styling of other espresso makers, it has the thick handle of an old orange juicer. ? Pots and pans created by designer Marc Newson for Tefal feature Bakelite, an early type of plastic that was used in cookware in the 1930s and 40s. ? Elmira Stove Works offers vintage-styled stoves and refrigerators patterned after the 1950s appliances.
2. In clothing, the big fashion trend is nostalgia. During the ready-to-wear Fashion Week runway shows, held in February to preview the fashions for Fall 2004, the 1950s look dominated. According to the San Jose Mercury News, women should "find inspiration ? and maybe even a few wearable pieces ? in your mothers closet or your grandmas attic." Among the items the designers presented were "sweet, 1950s dresses that nip in at the waist and fan out in gentle gathers over the hips. To make the retro point even more obvious, designers showed them with swing coats and twin-set cardigans."
3. In textiles, fabrics from the 1950s are getting a new life under the “Textiles of the 20th Century” series just launched by Maharam. According to the company’s cofounder, “The fact that these were designed 50 years ago and are still as attractive as ever allows people to feel like they’re not investing in something that is going to look like 2004 three years from now.”
4. In automotive design, cars with flashier styling are carving out a niche market.3 Even as SUV sales climb, a core group of car buyers is devoted to throwbacks like Mini Coopers, Ford Thunderbirds, and PT Cruisers. Chrysler recently started upgrading some of its larger models to include the hemi, the engine that powered the muscle cars of the 1960s. Kelsey Tire is re-introducing tires with wide white sidewalls, like those seen on cars in the 1950s, as Goodyear “Nostalgia Radials.” And later this year, Ford plans to unveil its 40th anniversary model of the Mustang, the classic sports car that defined driving for a generation that grew up in the 1960s.
5. In toys, some of the hottest selling in the most recent holiday season were based on characters from the 1970s and ‘80s. The Hokey Pokey Elmo doll, Care Bears, Transformers, and My Little Pony were retreads of toys that were popular a generation earlier, according to Toy Wishes, a magazine that tracks children’s favorite toys.
6. In movies, television shows from the 1960s and ‘70s are being updated for 21st century audiences. Recent releases like Charlie’s Angels and Starsky & Hutch illustrate that Hollywood prefers to invest in proven characters and familiar stories instead of taking a chance on risky new ideas.
7. In confections, the “retro candy” craze is red-hot.4 Baby Boomers craving childhood treats can find satisfaction on the Internet. Cyber-candy stores like groovycandies.com and oldtimecandy.com sell nostalgic items like candy bottle caps, bubblegum cigars, wax lips, candy necklaces, and shoestring licorice. At groovycandies.com, a box of 41 pieces of candy from the 1960s sells for $16.95. The company’s sales have soared from $250,000 in 2000 to $1.5 million today, and it expects to hit $3 million by 2005. Currently, nostalgic candy accounts for roughly 5 percent of the $24 billion U.S. candy market, but its share is growing. Tootsie Roll Industries has noticed a surge in sales of its older candies, such as Dots, and is increasing production of these brands. But the most compelling evidence of this trend is that Wal-Mart is acting on it. The company is developing a nostalgic candy store called Kid Connection within its megastores to sell old-fashioned candy like Rock Candy and Pez.
Now that we’ve explored specific examples of the retro trend, consider these three forecasts about where nostalgia is headed ? and where it isn’t:
First, although it is counterintuitive, many popular products will have to be updated before “retro” versions will succeed in today’s marketplace. Sometimes it’s a matter of safety, as in the case of cars: A 2004 Ford Mustang may bring back memories of the 1964 model, but it includes airbags and fuel-emission technology that didn’t exist 40 years ago. Sometimes it’s a matter of consumer expectations: The ovens sold by Elmira Stove Works resemble 1950s appliances, but they include 21st century upgrades that enable them to cook food faster and more efficiently than an old-fashioned stove. And sometimes it’s a matter of changing the reality to match consumers’ hazy memories: Tootsie Roll’s Dots candy does not look just like the Dots candy from 40 years ago; instead it looks like the candy the average 50-year-old buyer would remember from her childhood. The Dots are bigger, and in brighter colors, because the customer is bigger and her senses are not as sharp as they once were.
Second, retro versions of some products probably won’t work, despite the nostalgia trend. This is likely to be the rule in any product category in which the new technology is vastly superior to the original technology. For example, television sets from the 1950s took more space and delivered poor sound and picture quality compared to today’s high-definition plasma TVs. The same is true of personal computers, stereos, cellular telephones, and many other products in which advances in miniaturization have revolutionized product design and performance.
Third, some of the everyday products we take for granted today will eventually reach “nostalgia” status in consumers’ minds. Keep track of which of your products have established an emotional connection with your customers. As these products are replaced by newer versions, be careful to keep your patents and trademarks updated on the old versions, and safeguard any formulas or blueprints your business may need to recreate them in the future.
References List :
1. Time Magazine, April 26, 2004, "How Retro Can You Go?" by Kate Novack and Nadia Mustafa. ⓒ Copyright 2004 by Time Warner, Inc. All rights reserved. 2. San Jose Mercury News, February 19, 2004, "Fall Forward; Designers Trout Out Retro Designs, Vintage Trappings and Fur," by Donna Kato. ⓒ Copyright 2004 by San Jose Mercury News. All rights reserved. 3. Chicago Tribune, November 16, 2003, "Retro Gear for a Drive Down Memory Lane," by Jim Mateja. ⓒ Copyright 2003 by The Tribune Company. All rights reserved. 4. Associated Press, November 8, 2003, "Retro Candy: A Sweet Tooth Fix for Boomers," by Anne DInnocenzio. ⓒ Copyright 2003 by The Associated Press. All rights reserved.
