2018 Business trends to watch
Every year brings a new set of trends, fads and must-have products that are set to redefine the way businesses are run. To make sure you’re not caught off guard, we wanted to give you a rundown of six predicted 2018 business trends.
Ready? Here are six emerging 2018 business trends which can help your business thrive in the coming months.
A recent survey of business leaders at the London Global Leadership Summit found that a huge 34% of participants said that more than half of their workforce would be working remotely by 2020.
Working on-the-go is increasing year on year as handheld communication grows more popular and mobile technology becomes more accessible – a phenomenon that is set to rise even further in 2018!
As the trend continues to grow, employees are beginning to see flexibility at work as a right rather than as a reward/benefit. Indeed, the industry is shifting to have less of a structured 9-5 day, and is more flexible for workers as a result.
The best part of all this? Studies have shown that remote workers are happier and, believe it or not, even more productive.
As we begin to live more and more of our lives online, consumers are growing increasingly more hesitant about giving away their personal details. And it’s no wonder, considering the number of highly publicised data breaches and hacking scandals that occurred in 2017.
For business owners, it is important to understand how to use data sensitively so that it is useful for a consumer, rather than an implementing an irresponsible marketing strategy which could feel intrusive and, at worst, creepy.
The bottom line? Start investing your resources into more innovative, value-adding ways to use personal data in 2018, and your customers will trust you more than ever.
There has been a shift in the way people spend in the last few years and this looks set to continue in 2018. Generally speaking, consumer trust is built increasingly more on brand experience, rather than quality of product alone.
The latter still matters immensely of course, but nowadays it is unfeasible for a brand to neglect the story it projects to customers. Take a leaf out of Apple’s book. Their brand experience is so compelling, they are able to sell products with decreased functionality (lack of 3.5mm headphone slot in the iPhone 8, anyone?) to the tune of over 50 million units and counting.
The moral of that story? In 2018, effective brand experience will keep your customers coming back for more, no matter what.
Gen Z enter the workplace
In 2018, Millennials have begun to take more prominent roles in the workplace and the so-called ‘Generation Z’ (a term used to describe those born between 1995 and 2010) are starting to filter through into entry-level roles.
Forbes suggest that although similar in attitude, the differences between millennials and Generation Z are significant enough to create changes within the job market and within recruiting organisations.
For you, this means getting to know the needs and drivers of this emerging generation and adapting your workplace culture accordingly. This will help your business gain a competitive advantage to capture the recruitment, and consequently, the custom of an emerging Gen Z market.
With the major political parties fully aware that there are very few votes in favour of watering down environmental protections, we can expect to hear a lot more about a ‘green Brexit’ in 2018.
In order to secure the ‘green’ vote, politicians will ensure initiatives such as the Climate Change Act, the Clean Growth Strategy, decarbonisation of power & transport, etc. all survive the Brexit terms going forward, which means businesses still need to maintain a progressive environmental policy to future proof their legal status.
It’s not just for legal reasons you need to keep your business on top of environmental matters; customers are becoming greener too!
Research has revealed that consumers are more likely to buy from a brand that they believe is committed to helping the environment. In Mintel’s Europe: Consumer Trends report 2018, market research puts huge emphasis on the direct correlation between a green business and its potential for growth.
For example, it found that 72%of respondents would be interested in buying products made with recycled plastic and 79% believed people should be incentivised to recycle plastic.
In 2018, purchasing mentality is changing and this needs to be something that business owners are aware of when trying to appeal to their audiences.
So, are you ready for 2018?
Did you enjoy our 2018 business trends? With these insights, you can go the extra mile to make sure your company is completely prepared to thrive throughout the new year.
But before you go the extra mile, you need to make sure you’ve got the basics covered – which includes securing a good value tariff.
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