Into the New Year: Planning for Business Change in 2018
With 2017 winding down and the new year fresh before us, it's easy to wonder what the year ahead will hold for your business. But when you're undertaking business planning, it's important to know what business trends are anticipated for the year to come. Here's a quick look at 2018 business trends and how they may impact your company's performance.
Experience takes center stage
If you've been hearing about user experience the past few years, it's finally arrived. Consumers are basing more and more of their choices on their experience rather than price points.
Digitize or get left behind
Digitization of businesses leads to automation, reduced overhead, improved profitability and increased flexibility. Companies that are lagging behind are losing parts of their market share.
The Internet of Things stays hot
From home automation to industrial sensors, there are a wide range of connected devices that are at work every day to improve efficiency and outcomes, and that's a trend that is expected to continue seeing strong growth through the next year.
The return of values
In 2016, REI shocked other retailers when it stayed closed on Black Friday, but the intangible assets it gained while closed proved the company had made the right decision, with a 7,000% increase in social media mentions. Today's consumer is more likely to respect brands that set limits that work to make our world a better place to live.
Stay on social media
Speaking of social media impressions, it's expected that social media marketing and presenting multimedia information to the public over those channels will continue to provide strong rewards.
Continued economic growth
Though we won't see hot rises in demand that may lead to strong inflation, it's expected that the economy will continue to steadily grow to reflect a 3% growth on wages this year, which will, in turn, be put back into the economy.
By having a good grasp of predicted 2018 business trends, you can get the most out of your business planning strategy, giving you a successful new year. If you're not sure where to start or how to apply these trends to your business, the professionals at AccountRely are here to help. Please feel free to contact us today to get started.
