If you want your business to grow, you have to keep your eyes on which new products, services and marketing strategies are trending and why. Research is crucial to making sure that your business is evolving and leveling up to continued success. We have done a little digging and found 5 of the top trends in business. Take a look and see if any of these trends may fit nicely into your business strategy!
1. Behind-the-Scenes In-Store Experiences
The viral 2018 John Lewis holiday commercial from the UK department stars Elton John, who performs Your Song, as well as revisits moments from his career and childhood. As a companion piece to the advertisement, John Lewis created an in-store experience that lets shoppers go behind the scenes of the Elton John Christmas ad.
The in-store experience includes pianos, a recording studio and even items for dressing up and truly immersing oneself in the scenes. Additionally, people are able to pick up merchandise from a pop-up shop selling items such as Elton John t-shirts and vinyl records.
Although there is a ton of work that goes into the making of shiny Christmas commercials, displays, events and products, consumers are rarely presented with a glimpse of behind the scenes, which makes this seasonal in-store experience a standout.
2. Female Entrepreneur-Supporting Programs
The technology market is notorious for being male-dominated, so the Apple Entrepreneur Camp has been announced by the company as a new endeavor to support female-driven businesses. Set to start a pilot session in January 2019, the camp comes as the first-of-its-kind and is focused on providing specialized support as well as continuous mentoring. This new endeavor seeks to help app-driven businesses that are owned or led by women that might need additional support to excel in the market.
The Apple Entrepreneur Camp is part of the increasingly inclusivity focused market environment where establishments are seeking to offer entrepreneurs with much-needed support that could offer a competitive edge against competition. The program is presently accepting applications and is likely to come as welcome news to female entrepreneurs in the technology sector.
3. Homelessness-Combating Social Businesses
Boston nonprofit More than Words is on a mission to positively impact communities by employing at-risk youth, individuals aged 16 to 24 from the foster care system and those without a home. The multifaceted organization is dedicating to lowering homelessness rates and supporting youth in the next stages of their career.
The Boston nonprofit resells gently used books that can be purchased both instore and online. There are about 70 people working there for about 20 hours a week. They are tentatively trained and earn minimum wage for their efforts. In addition to this, More than Words dedicates the second floor of its building to guidance for future job interviews, driver’s license applications and academic degree candidacy.
The Boston nonprofit’s store is the perfect place to turn for thoughtful gifts for loved ones.
4. AI Browsing Shopping Extensions
‘Shopbrain’ is a web browser extension that can be activated to automatically search thousands of stores to find the best price and save consumers tons of time. For the holiday season this year, Shopbrain is introducing its newest product in the US and Canada as an AI-powered shopping assistant.
With artificial intelligence, Shopbrain searches over 10,000 retailers, search engines and merchants to compare prices from various sellers and help consumers feel confident about making their final purchasing decision. As James Cunningham, CEO and Co-founder of Shopbrain, puts it “There is no need for shoppers in this digital age to be wasting time manually researching deals and the best prices.”
While the tool will undoubtedly help many online shoppers who are gearing up for Christmas, the web browser extension also has value for those who are looking to find the best Black Friday and Cyber Monday deals.
5. Social Data Management Platforms
The amount of social data being created can be staggering to comprehend, so the ‘Tify’ platform aims to make the process of managing it for businesses far more efficient.
The platform will offer users with real-time access to what is being said about their brand and pinpoint opportunities for making adjustments with this information in mind. Users can also use the data collected to make predictions about how to proceed rather than relying on a rigid framework that was created in the past to keep businesses more agile in the face of a changing marketplace.
The ‘Tify’ platform could help to effectively improve a business’s ROI when it comes to marketing to make every dollar spent work harder.
Which Trends Can You Integrate into Your Business?
Businesses are always evolving, and keeping an eye on the trends is one of the best ways to make sure to take advantage of the trends that are relevant to your industry. If you haven’t already started a business, maybe one of these trends will inspire you to create an entire new business.
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