In many ways, 2022 felt like the closest thing to a normal year we’ve had this decade, but that doesn’t mean it was uneventful for those in the design business. From war to inflation, 2022 saw plenty of seismic events, and subsequent uncertainty around energy and the economy, among other factors, could shape the year ahead.
Beyond keeping up with forecasted design trends for 2023, it’s worth staying informed on some of this year’s broader developments that could affect how you approach your design business in 2023. Whether it’s trying to make sense of inflation, AI art, or Instagram’s ever-changing algorithm, here’s a closer look at the industry shifts you need to anticipate in the new year.
Solar power isn’t just for the roof anymore
With this winter likely leading to increased energy bills, 2023 could be the perfect time for architects and designers to merge sustainability and affordability by harnessing the power of the sun. As WGSN’s 2023 trend report suggests, this could provide opportunities to not just add solar panels (and now solar shingles) to the home, but to integrate solar power into “everyday accessories such as lamps, kettles, heated blankets, toys, and even fans.” With WGSN survey data suggesting that nearly 90 percent of consumers see the importance of buying or renting an energy-efficient home, there may be brighter days ahead for solar-inclusive design.
Inflation could slow down in 2023
Although worst-case fears of a significant recession may not have come true (as of yet, at least), inflation—which hit a 40-year high in 2022—was a fact of life. But what will next year have in store? Treasury Secretary Janet Yellen predicts more of the same in terms of recessionary risks, but doesn’t see a recession itself as a necessary step to correct for said inflation. Coupled with the Federal Reserve’s expectations of a continued (albeit slower) raise of interest rates next year, her hope is that inflation will be on the downswing by the end of 2023.
That may not exactly be the news consumers want to hear. But while the economy remains in wait-and-see mode, it could be further good fortune for furniture and design resale marketplaces, which consumers already see as an inflationary hedge. That trend will likely continue in the absence of an economic rally.
