As businesses try to stay ahead of competitors, entrepreneurs must continue to stand out in an oversaturated market to win over consumers. Business trends often develop from social commentary, world issues and changes to how people are buying. As these trends change, the more important tactics will stick around to be used to develop a business further if they’ve been a proved success. Here are several business trends that many businesses will continue in 2020.
Social innovation
Social media has shaped the way that people are shopping and consuming media. But with developments such as virtual testing apps and instant buy options available on Instagram, consumers now have more options from businesses and can now buy and try instantly with ease. For example, Instagram can link a viewer directly to an item without making the customer look for the product themselves, creating instant convenience for the buyer. If anything, these social trends are growing due to consumer demands and proven success for brands who utilise these opportunities, such as fashion and makeup brands which can only mean that social trends will be on the increase in 2020.
Modern ways to work
Many employees are becoming more attracted to businesses who give their staff options for how to work. Working from home has become a norm in many workplaces, with just as many businesses encouraging flexitime, flexible working days and office dogs. The Office of National Statistics [1] predicted that half the UK workforce are expected to be working remotely by 2020, with palpable benefits for both businesses and employees, such as environmental benefits, increased staff retention and higher morale.
Sustainability
Sustainability and the environment are topics on the forefront of everyone’s minds across the globe right now. Many businesses and consumers are becoming more aware and cautious of what they are buying and who from, whether they’re staying clear of products which have been tested on animals or recycling more, most people are trying to do their bit to help the planet. Many businesses have followed this movement and changed or shaped their products to mirror this social shift. These conscious efforts from the likes of supermarkets and retail brands has been recognised by audiences, who are then more likely to spend their money with like-minded and environmentally conscious brands that are moving forward with each generation.
Staying connected
Whether this is through social media, your company website or at networking events, staying connected will keep your brand relevant to competitors and consumers. This business trend has been an important tactical staple for the growth of many successful businesses and is key for any developing business to remember. Being connected both with an online presence and in-person with other businesses and audiences will enhance your brand’s credibility, trust and tone of voice, which will develop a positive reputation resulting in growth and profit.
[1] https://www.hso.co.uk/leased-lines/technology-news/homeworking-news/50-of-uk-workforce-to-work-remotely-by-2020
