In order to stay on top, you need to have your finger on the pulse of modern technology and keep up with the latest innovations. With that in mind, here are five unique trends that are expected to drive business growth in the coming year and beyond.
CAPTURING THE YOUTH DEMOGRAPHIC
Older readers may remember a time before the internet, but for younger generations, it’s an essential part of everything they do. And as they age and make up more of the consumer market, companies must do their best to relate by moving their marketing to a digital platform. Take TikTok, the mobile-centric video platform that has experienced crazy growth in the past few years. With 500 million active users worldwide, it ranks ninth in that category among social-networking sites, ahead of LinkedIn, Twitter, Pinterest and Snapchat.
GOING GREEN IS PICKING UP STEAMS
More people are adopting a green lifestyle. Beyond Meat, maker of plant-based proteins, has increased its stock prices by more than three times since its IPO launch. But for consumers, the eco-conscious lifestyle doesn’t stop at vegetarian diets and organic hygiene products.
According to Small Business Trends, when it comes to tapping new consumers in an already-crowded green market, “The answer may lie in supplying consumers with details — and authenticity.” It’s not enough to be green anymore; you have to help the customer understand what making eco-friendly choices means for you and them.
MACHINE LEARNING AND ARTIFICIAL INTELLIGENCE ADVANCES
The artificial-intelligence industry is continuing to grow and will have a significant impact on the world economy in the coming years. Even smaller uses of AI and algorithms can improve the user experience in nearly all industries. Spotify, for one, uses artificial intelligence to make the listening experience more personal by creating customized sessions for each user.
E COMMERCE WILL CONTINUE TO DOMINATE
In the coming four years, global e-commerce is expected to reach around $5 trillion, as reported by Statista, causing many retailers to move investments from brick-and-mortar storefronts to online stores. Fashion Nova has utilized the power of online shopping with only a small handful of physical locations, leveraging social media to generate hundreds of millions in sales.
ALL-ENCOMPASSING DIGITAL PLATFORMS WILL KEEP RISING
As companies look to provide more services and options to their customers, demand has risen for all-in-one platforms to handle financial transactions, security and banking needs. Consumers and business owners alike appreciate the ability to accomplish more than one of their goals with a particular vendor, and these comprehensive systems are gaining popularity.
We’ve seen companies and products like Cyfe and Tableau (who had a massive IPO) create central business-intelligence platforms with APIs and integrations that continue to push the tech pace.
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