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The Insights Family Launches Annual “Future Forecast” Report for 2024 image

The Insights Family Launches Annual “Future Forecast” Report for 2024

The Insights Family, the global leader in kids, tweens, teens, parents, and family market intelligence, proudly announces the launch of its annual (free to download) “Future Forecast” report which has 10 predictions for the year ahead. Operating across 22 countries, The Insights Family is the only company to provide real-time market intelligence on kids, parents, and families.

Future Forecast 2024 is based on a combination of the company’s research, data, and insight capabilities, and is the report’s sixth edition. Previous reports successfully predicted trends such as the rise of Direct to Consumer (2017), Generation Speak (2018), Co-Creation (2020), with last year’s edition including predictions such as the “significant growth of in-game shopping”, “how kids will become the next generation of entrepreneurs” and how “TikTok has become the next generation’s go-to search engine.”

The free-to-download report predictions includes how for preschoolers (3-5-year-olds) arts & crafts related hobbies and contents are going to further grow in 2024, and even poses the question of whether we will see kid influencers teaming up with arts & crafts companies to build a scalable subscription business. As for tweens (10-12-year-olds), the report predicts how that age group will pioneer more niche interests, media, and brands to become the new mainstream for the next generation.

It also predicts that younger teenagers (13-15-year-olds) will reinvent the circular economy turning it into the “Hexagon economy” made up of six key areas: Reduce, Reuse, Repurpose, Resell, Represent and Recycle and how this could create a whole new consumption pattern within the economy. Regarding older teens (16-18-year-olds) The Insights Family’s 2024 Future Forecast report predicts a rapid rise in desire for customisation which essentially means that organisations and business models will need to evolve significantly to remain relevant and profitable.

Nick Richardson, Founder of The Insights Family, comments: “Our ten predictions for this year have been curated by our incredible team of researchers, data analysts and insight professionals. They are based upon essential context and interrogation of the significant revolutions and evolutions that might be on the cards. As IP owners, entertainment companies and brands we understand that you deal in the fast-paced ecosystem of kids, tweens, teens, parents and families. I really think 2024 is going to be the year we see this next generation make some significant noises that will start to transform society norms, both from an economic and social perspective”.

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