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If you're not familiar with how Pantone's Color of the Year is selected, in summary, it's chosen as a reflection of society and it's current cultural expressions and often by it's needs.
“The Pantone Color of the Year has come to mean so much more than ‘what’s trending’ in the world of design; it’s truly a reflection of what’s needed in our world today.” – Laurie Pressman, Vice President of the Pantone Color Institute"Individuality, unconventionality and artistic brilliance are some of the words Pantone uses to describe the reasons Ultra-Violet was chosen for 2018.
Spirituality is often associated with Purple. As an example, if you're a church goer you've seen the spiritual connection with purple during Lent when a Catholic Priest wears his purple robe. With Lent being a time of empathy for suffering and penance, purple is the chosen color for this time. It's not meant as a negative, but rather to give something of ourselves as a way of acknowledging Jesus' suffering for us.
If you're not a believer in traditional religions, purple is still referenced as an associated color for mindfulness. Whether it's for Yoga, Meditation or InspiringButterfly Lilac Bedding Duvet Set

In home décor you'll find that purple is used to enhance a design that is bravely unique to the point that a home owner has no qualms about creating an environment that boldly stands out for all who enter. Call it, 'a little shock and awe in home decorating'.
Where the conservative decorator tends toward neutrals, purple is often for the individualists among us. It's not so much about being fearless, but more about recognizing self within our environment. Of course, if you're not a fan of purple it doesn't matter how much of an individualist you are, you simply won't decorate with the color!
In Business Marketing, purple is often used to represent trends, services or products that are higher in quality or sophistication. If your business reflects a higher level of quality, purple may be a color to include in your branding.
In short, decorate the way you want to decorate! No matter the trends, your home is your personal space and should reflect who you are and what you love. But if you happen to love Purple, you're in luck for 2018!