If you are an entrepreneur or manager, you know how tough the business world can be. If you want to stay on top, you need to have your finger on the pulse of modern technology and keep up with the latest innovations and trends. With that in mind, here are three best trends that are expected to drive business growth in the coming year.
1. Going Green
More people are adopting a green lifestyle. Increasingly, businesses around the world are responding to a global imperative and consumer demand to go green. And more than 80% of people respect companies and brands that adopt eco-friendly practices, according to an international survey.
By making it easier for consumers, businesses can profit. Shoe company Adidas, for instance, united with Parley for Oceans to produce 7,000 limited edition sneakers made completely from plastic trash retrieved from the ocean. Going green has several other benefits for companies. These include tax credits and incentives, improved efficiency, healthier workplaces, and cost savings – for instance by printing less, turning lights off in unused rooms and refilling ink cartridges.
2. Youth Demographic
Older readers may remember a time before the internet, but for younger generations, it’s an essential part of everything they do. Companies must do their best to relate them with young people by moving their marketing to a digital platform. Take TikTok, as example, the mobilevideo platform that has experienced growth in the past two years. With 500 million active users worldwide.
YouTube has also made digital marketing more accessible to younger generations. According to a recent survey, “59 percent of Gen Z respondents said they use their YouTube app a lot more than they did a year before,” showing that this market is just getting started.
3. E-Commerce Will Dominate
In the coming four years, global e-commerce is expected to reach around $5 trillion, causing many retailers to move investments from brick-and-mortar storefronts to online stores. For many, keeping up with the latest trends doesn’t mean a whole lot, but for online retailers e-Commerce trends in 2020 can make or break your year in sales. Customer journeys now merge online and in-store. The notion that e-commerce is a distinct store or activity is disappearing; digital and in-person are now intricately linked, creating the symbiotic commercial ecosystem we call omnichannel
These are 5 trends to keep an eye in 2020:
- Social media gets transactional
- The rise of ethical e-commerce
- People shop in their car
- Retailers will hire their first AI employee
- Bigger, Wider, Deeper selection of products
Some companies have understood the possibilities of using the Internet much earlier in order to significantly change the way they do business, and have begun exploring options for buying and selling online. Knowledge and intelligent use of information are key factors in the development of the economy. With the increasing widespread use of the Internet in economically developed countries, the trend of e-commerce is becoming more significant. focusing all company resources on the formation of an adequate business model that enables efficient business through the Internet
Sources:
Entrepreneur: https://www.entrepreneur.com/article/341216
Absolunet: https://10ecommercetrends.com/
