Whether you are the owner of a small business or looking for that bold and innovative move to lead your company towards success, it’s important to see what business trends are up and coming for the new year. In 2018, we saw technology make business smarter, simpler and more efficient, but what will some of the biggest business trends look like for 2019? Change is inevitable, so business owners should be reminding their customers of the safety, convenience, and excitement of new practices, policies, and products that will be changing and developing in the near future. Check out these top five business trends in 2019:
Increased Personalization of Services
Many consumers these days prefer to work with companies that are offering a more personalized experience. Businesses are looking for every opportunity to customize their outreach to their consumers with personalized emails, coupons, and content that provide value for the customer.
Integration of Artificial Intelligence
The convenience and functionality offered by artificial intelligence are being integrated by several industries today. Most websites selling products are now using machine learning to enhance product recommendations and search functionality for their customers. There has also been a sudden rise in AI with the increased use of chatbots who provide customer service to the consumer on companies websites. This use of AI and machine learning is on the rise and is expected to become an essential facet of running an online business.
Businesses Taking a Stand
Statistics show that nearly two-thirds of consumers want companies to take a stand when it comes to social issues. Brands are no longer on the sidelines, but rather shifting into the political and social arena to prove to their consumers that they truly care about what is going on in the world. In order to develop your brand to align with what matters to your customers, businesses need to be transparent, authentic and provide a meaningful stand on their core values.
A few examples include:
- Companies joining together to end the flow of plastic into the ocean.
- Beauty companies fighting for better product ingredient regulations.
- Donating money to green groups to help save the planet.
- Sporting good companies removing assault weapons from their shelves after all of the recent school shootings.
Subscription Services Will Skyrocket
Subscription services are on the rise. The market has plenty of space for subscriptions, especially if you are in the beauty, apparel, lifestyle or food industry. From dog toys to beauty supplies, having a subscription box can lead to triple the sales as opposed to one-time purchases. As a business owner, now is the perfect time to capitalize on this growing trend.
Zero Staff
Our first experience with staffless self-checkouts began many years ago with vending machines. Automated interactions are nearly everywhere these days and are only projected to grow in the coming years. It is important to consider how your company can streamline some of its processes that don’t necessarily need critical social elements and putting your budget towards really connecting with your audience instead.