Market and Business Trends
Business and market trends are predictable tendencies in the marketplace that influence the behavior of consumers. Being aware of these trends allows businesses to align their products and services to the needs of customers increasing brand loyalty and sales.
Trend analysis requires a lot of research, observation and a keen awareness of what people need and want. Entrepreneurs who do not meet their goals such as Mattel did when its Barbie dolls lost market leadership to Bratz in the 2000s, aren’t equipped to compete against new innovative companies that are aware of the shifts in demographics and generational trends in consumer demand.
In 2023, expect small businesses harnessing the latest technologies to enhance their marketing strategies and engage their audiences. Marketers will make use of modern technology to increase the number of and engage their customers. This could include hologram displays www.compucog.net/2021/07/13/generated-post/ or beaming influencers or celebrities onto the floor of sales.
A second business trend to be on the lookout for is the increasing emphasis put on employee health and the development flexible working environments. This is in part due to the coronavirus-related lockdown and is expected to continue with the improvement of the economy as well as the desire to recruit the best talent.
Economic trends offer a snapshot of the health and vitality of a market. Prices for oil, for instance tend to increase when the economy grows and demand for energy rises worldwide. In the opposite direction, wars and mining disruptions can reduce the supply of a specific commodity. Stocks and bonds are affected by investor sentiment, news, quarterly results of companies, economic indicators, and natural fluctuations in demand and supply.