With the global economy recovering in some sectors, the “hot” trends will continue to hold, but some of the “weak” trends will start to wane. Let’s look at the top 10 business trends that will impact growth through 2020.
The next time you get a paycheck, chances are it will come from large consumer society. The most popular items sold through retail channels are apparel and electronics. Health and beauty will continue to be major lines for women’s clothing, footwear, and accessories. The growth of the online and e-commerce revolution continues to challenge brick and mortar retailers everywhere.
Big data is advancing each year, while the health industry is evolving to include wellness and health technology. Gaining acceptance as a self-care tool for consumers, wellness and health tech is becoming an industry unto itself. For example, StairMaster combines exercise regimes, wellness systems, and technology to help users achieve goals.
New product lines by the big companies
Apple, Google, and Facebook are providing billions of dollars in revenue each year with their new product lines, as well as being the most popular brands. The increasing number of new cell phone options, tablets, and laptops will continue to drive some of the interest in the latest technologies.
Today’s trends represent the highest level of investment since the “current frontier,” yet over-the-top video streaming will continue to grow and demand from viewers will continue to increase. Physical bookstores have also been losing customers in recent years, while Internet retail services have made many traditional retailers obsolete. In fact, Amazon has over a million physical bookstores that it relies on for its online sales.
You’ve likely heard the term or seen the term “unicorn” before, but what is it exactly? Basically, a unicorn is a company that is a unicorn because it is so high risk to buy, yet could have a reasonable chance of making a high return on investment. If you have been following the technology sector, then you are familiar with the term “internet stocks.”
Internet stocks have been rising
Just like other types of internet stocks, internet stocks can have a price based on the daily earnings of certain companies. For example, Amazon was recently described as the first successful internet stock.
More business owners will find themselves marketing beyond the holidays with their employees or family members. Mobile devices and technologies, such as iPads, smartphones, and other devices are allowing workers to stay connected to clients, vendors, customers, and colleagues from any location. With these new trends in place and the growth of social media, more companies will decide to connect with their clients and customers around the clock.
Innovation and change, two key factors in accelerating business growth. As more companies look for strategic growth in their industries, each business has the opportunity to make an impact on the competition. This is the key to finding ways to become the most innovative, and most adaptable businesses in the future.
Social Media gave the boost
Social media has become so popular that even small businesses that have taken their business to a social platform, are able to reach millions of people. New technology allows even businesses to find out where their audience is and engage them with relevant, unique content.
“Scalable Innovation” is a buzzword that’s gaining in popularity in business trends for the next few years. The fact is, innovations are changing so quickly that only the best organizations will survive in this competition.
As you can see, there are a lot of “hot” trends that will impact growth through 2020. Take the time to think about how your company will benefit from a new trend, and why it will take place.