Business and market trends are predictable trends in the marketplace that influence the behavior of consumers. Being aware of these trends helps entrepreneurs to match their products and services with the needs of their customers which increases brand loyalty and sales.
Trend analysis requires research, observations and a keen awareness of what consumers require and are looking for. Entrepreneurs who do not meet their goals such as Mattel did when its Barbie dolls lost market share to Bratz in the 2000s, aren’t equipped to compete with the new innovative companies that are aware of the changing demographics and shifts in the demand of consumers.
In 2023, small companies will use emerging technology to enhance their marketing strategies and attract their audience. From the hologram display to beaming celebrities or other influencers directly onto the sales floor, marketers will rely on cutting-edge tech that can amplify their messages and entice customers.
Another business trend to be aware of is the growing emphasis on employee wellbeing and the creation of flexible working environments. This is partly a response to the coronavirus shutdown and is likely to remain in place as the economy improves and businesses look to hire the best talent.
Economic trends provide a picture of the health and vitality of a market. For instance, oil prices typically rise as the economy grows and the global demand for energy increases. In the opposite direction conflict and disruptions in mining may reduce the supply of a certain commodity. The same goes for bonds and stocks, which rise or fall in value depending on the mood of investors news reports, quarterly results, economic figures and natural fluctuations in demand and supply.
www.compucog.net/2022/03/28/ma-data-rooms-platforms-the-best-software-for-dealmakers/
