Market and Business Trends

Trends in business and market trends are predictable in the marketplace that influence the behavior of consumers. By staying abreast of market and business trends entrepreneurs can match their services and products with the demands and requirements of their customers. This will increase brand loyalty and sales.

Trend analysis requires research, observations and a keen understanding of what consumers require and are looking for. Entrepreneurs who fail to meet their goals, such as Mattel when its Barbie dolls were overtaken by Bratz in the 2000s, will not be prepared for competition with innovative, new businesses that understand the changing demographic and generational shifts.

In 2023, expect see small companies leveraging the latest technology to improve their marketing strategies as well as captivate their customers. Marketers will employ modern technology to increase the number of and engage their customers. This could involve hologram displays or projecting influencers or celebrities onto the sales floor.

Another trend in business to be on the lookout for is the increasing emphasis on employee wellbeing and the development of flexible work environments. This is partly in response to the coronavirus-related lockdown and is likely to keep growing with the improvement in the economy and the desire to attract the best talent.

Economic trends provide a picture of the health and vitality of a market. For instance, prices for oil typically rise as the economy grows and global energy demands increase. In the opposite direction, wars and mining disruptions can reduce the supply of a specific commodity. Stocks and bonds are also affected by the mood of investors, news about quarterly results from companies, economic indicators, and natural fluctuations in demand and supply.

www.compucog.net/2020/06/02/tech-market-leaders-by-board-room-and-virtual-board-room-for-directors