Keep Tabs on These 5 Business Trends

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Every year new trends emerge that shape the market, changing the way that we do business. In 2020, the COVID-19 pandemic drove several business trends, companies had to adapt fast, to navigate various new challenges. Keeping tabs on the latest business trends will allow you to drive your company forward. Through 2021, companies should seek to focus on these five areas.

1 . A Change In Shopping Behavior

During 2020, we saw a real change in shopping behavior. Consumers shifted to online shopping, and this trend will continue into 2021. According to McKinsey, ‘the first half of 2020 saw an increase in e-commerce equivalent to that of the previous ten years.’ Simply put, businesses that are not offering online retail options will lose out to companies that are. For businesses, there are plenty of advantages to offering eCommerce. Benefits include improved flexibility and a streamlined buying process. Ecommerce businesses can widen their reach, and offer several methods of payment.

2. Improve CSR Strategies

Consumers expect brands to take social responsibility seriously. Modern businesses need to show they care about important issues, whether it’s environmentally or politically. From your business operations to your marketing, consumers want brands to have a positive impact. Smart Recruiters reported that ‘77% of consumers are more willing to purchase a company’s products if the company demonstrates a commitment to addressing social, economic and environmental issues.’ When you’re making changes to your operations and branding, it’s important to keep CSR in mind.

3. Managed Service Providers

In 2021, many businesses are hiring managed service providers (MSP). Begin your MSP partnership with a free IT audit to find out where your infrastructure is lacking and how to strengthen it. MSPs offer remote services to manage IT systems. When you work with a managed service provider you’ll benefit from 24/7 IT support. IT service providers will improve the performance of your IT infrastructures. 

You’ll benefit from improved cybersecurity and less downtime. Your in-house team will no longer have to spend time troubleshooting IT issues. With the help of an MSP, you’ll improve your service performance, while accessing an affordable IT solution. Businesses must improve their digital transformation strategies, in order to thrive. For more info about managed service providers check out this IT company in New York.

4. Remote Working Continues

According to a Gartner survey, ‘Over 80% of company leaders plan to permit remote work after the pandemic.’ Research by Forbes discovered that ‘61% of employees prefer being fully remote.’ As a result, employers have found that remote work boosts productivity. There are plenty of other benefits to remote work including reduced expenses, and retaining the best talent.

5. A Continued Demand For Virtual Services

During the coronavirus pandemic businesses had to adapt quickly. Many companies started to offer virtual services. As the effects of the pandemic die down, the demand for virtual services is still growing. Many customers prefer the convenience of accessing services from home. Whether it’s online fitness classes or wine tasting, virtual activities allow businesses to expand their customer base.

The year 2020 was a challenging time for many businesses. On the plus side, many of these challenges have presented new opportunities. To keep on growing, companies must keep up with trends and developments in the business world.