Upcoming trends for small businesses
Luz Gragido • October 25, 2021
If there’s anything the COVID-19 pandemic has taught businesses, small and large alike, it's that digital marketing and transformation is the future. The structure of many organizations have changed over this last year and a half. It seems that what work life was like before covid will not be going back that way ever again. So what is exactly being predicted to happen even after the pandemic is over?
Working remote
- Allows for companies to open themselves up to new pools of workers
- Employees have more options and can live in lower cost areas
- Employees are more productive
- Less time commuting makes for a better work/life balance
Mobile communication
- People are more connected now than ever before
- Banking, healthcare, and many other industries can be performed over mobile apps
- There are problems with people staying focused due to the increased use of mobile devices
Cloud based services
- Amazon, Google, and microsoft have all built cloud based technology
- Companies no longer have to spend millions to build data centers
- Companies can add computing power and more storage as they go
- Risks with cloud based service
- Providers can decide they no longer want your business which forces you to turn elsewhere
Ecommerce
- Ecommerce is becoming a HUGE trend with boutique brands
- Shopify is a powerhouse since they support many small businesses
- Applepay gives boutique brands 1 click payment that is just as easy as Amazon
- Competition?
- Social media influencers (tiktok, instagram) are not fans of huge tech companies such as Amazon which means they are highlighting smaller more boutique brands to their audiences
Payment with a device
- Covid moved cashless pay to the mainstream
- Easier, quicker, and more efficient
- Defi
- Movement to make spending cryptocurrency in brick and mortar/retail stores
- Not a whole lot for small businesses to do with crypto currency yet but something to watch out for
Post pandemic goals
- 2022 is going to be the year many small businesses look to as a turnaround
- Growth, new products, and services
- By 2022 we should be seeing the work that was completed during the pandemic coming to the surface
- Different revenue streams is going to be a huge trend for small businesses
- Pre pandemic many companies were too reliant on a single revenue stream, post pandemic this strategy is going to change so that many companies don’t face this issue again
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