Discover the latest trends in business
Get all the information you need to make your business future-ready
Are you a business owner seeking new market trends to boost your business growth?
Perhaps you are just a newbie trying to deepen your roots in the competitive business world.
The recent technological advancement has made it entirely necessary for business owners to keep up with every trend that pops up.
People are the market, and you know what people do, right?
They jump on trends.
This means you constantly need to stay up to date on trends that are relevant to the scaling of your business.
In this article, you will discover some of the likely trends to expect over the decade and how they will shape your business success (or not).
Let’s get right into it!
- Advanced Technology
As expected, technology is at the top of the list of trends in the business landscape today. And any business that does not adopt one or more technological tools or software or system in its operation is on its way to becoming extinct.
Today, there is a vast growth in transformative technologies such as Artificial intelligence, Machine Learning, Virtual and Augmented Reality, the Internet of Things, Blockchain, and Cloud Computing, to mention a few.
Artificial Intelligence has particularly become a trendy buzz phrase in the business world. It has got every Tom, Dick, and Harry in its grasp.
There are discoveries and upgrades in Artificial Intelligence regularly. And it has quickly slipped into every sector in the world.
From arts to education to healthcare to tourism down to sport betting, the Ai wave is fast spreading, leading to increased speed, efficiency, and productivity in places where they are well deployed.
Artificial Intelligence is trending in an unprecedented manner. According to Statista, the market size in the Artificial Intelligence market is expected to reach US$241.80bn by the end of 2023.
It could even be more.
The market size is expected to grow by 17.30%, leading to a market volume of US$738.80bn by 2030. Talk about a huge market penetration!
As this rate of technological advancement continues, more sophisticated tech tools integrated with Artificial intelligence models will come into play as a build up to the next decade.
Therefore, as a business owner seeking to scale or a potential one wanting to estalish a good footing at entrepreneurship, you must prepare for this by learning and embedding the right technology in every area of your operations.
With the right technology, you can improve your customer service, sales and marketing, turbo-charge your sales, better manage supply chains, cut down manufacturing wastes, access data faster, and stay relevant in the future.
2. Employee challenges and needs
Imagine working where you feel valued, and your inputs are recognised; you’d undoubtedly put in your best. As little as it seems, recognition and rewards breed fast results, and as a business owner, it is time you tap into that system.
In recent years, employee advocacy around WFH, mental health, income parity, and employee welfare has brought about tremendous change in the business landscape. Many workers are reassessing their jobs and the impact on their overall well-being.
Nowadays, Purpose or Meaning is not a topic preached only from pulpits, but one that’s also discussed, or debated rather strongly, in boardrooms, hallways, and cubicles.
This has placed new pressure on business owners, managers, and HR leads to ensure they provide sustainable, attractive, flexible jobs with a healthy work culture and, of course, pay a well-deserving wage or salaryb to their talents.
Investing in your employees is a wise investment for your business and this is a trend that will continue into the future, as more and more employees seek other options to do the work they love.
As a business practitioner, you need people to build and succeed; hence, you must stay updated on the evolving employee trends and current global work culture in order to anchor your business the right way to stay relevant both now and in the future.
3. Automated Workplace
Again, employees now prefer to work from home or, at the very least, expect flexibility, such as a hybrid work model. Physical and mental health are top priorities.
These dynamics have impacted talent recruitment, management, and retention.
Hence, the automation of your workplace can make room for the flexibility of a hybrid work model.
In addition, with the power of intelligent machines and smart robots, you may not need to recruit people to do certain routine jobs.
The reason is that these intelligent tech innovations can do the jobs better, faster, and more error-free than humans.
Automated workplace is a trend we will see more of in the coming decade. Automating your workplace can attract better-skilled candidates, shrink time to achieve more and sustain your business in the next decade.
4. Sustainability
The next trend in business that is fast grabbing the attention of customers and stakeholders and will continue in the next decade is sustainability.
According to the United Nations, sustainability demands that while businesses meet their corporate objectives today, they should not hinder future generations from fulfilling theirs.
This trend in business is currently a deciding factor on which business remains relevant in the good books of customers and investors.
Hence, you need to interrogate the impact of your business’s environmental, social and governance (ESG) processes.
Ensure your business is not negatively affecting the environment and society, and strategically deploy transparency and accountability in your ESG processes.
Besides giving visibility to your business, sustainability will increase and sustain your business’s significance in the next decade. Any business that is not building for sustainability would likely be left behind in the coming decade.
5. Unmatched Customer Experience
Today, customers have a louder voice. They greatly desire (and deserve) better experience and cannot do without it.
Question – what experience does your business currently deliver to customers? Your answer to this would determine the level your business would play in the next decade.
Customers are concerned about the process of choosing, purchasing and the impact of your service or product on them.
The next decade will see a rapid adoption of the Ai and other emerging technology in to enhance customer experience.
Think of online shops with a Virtual Reality stage where customers can “try on” virtual representations of clothes, jewellery, and accessories. Meta just announced its improved next-generation Smart Glass that allows you to interact with virtual Ai features with your glass.
These trends in business are fast-disrupting customer expectations, moving their experience needle, and influencing how they view businesses in the future.
Big question:
Are you ready for the next decade?
How prepared is your business for the impact of these trends in business?
In terms of transportation logistics, we believe Treepz is already at the cutting edge.
As your most reliable and tech-ready partner in designing transportation solutions and programs that position your business for scaling, we have our boots to the ground.
And with these trends, we constantly interrogate our processes to ensure we are ahead of the curve in meeting your transportation needs with the best way possible.
For enquiries and support, contact our customer support team:
+234 817 110 0558 (Nigeria)
+256709716402 (Uganda)
+254737834926 (Kenya)
+233508559593 (Ghana)