2019 Business Trends that inspired me
2019 is upon us. There are a lot of great trends to consider following as January comes to a close and we embark on a new month soon. I found these 5 trends to be inspiring for their substance and overall need to be responsible and ethical in a new manner. Plus, they align so well with the latest Division of HR with A Heart.
1. Alternative lending will continue to grow.
Non-bank lending has been growing for years, but 2018 turned out to be a boom year for the industry. Take Kabbage (based out of the ALT area; founded in 2008) for example: They are reporting lending over $10M daily to new companies, since traditional banking is not working for all of the great start-up companies that are sprouting up ... well, like cabbage. Another widely popular lending option that will still gain strength in 2019 is the peer-to-peer lending (P2P). Polls at the end of 2018 indicated that this trend will only skyrocket as Q2 of 2019 ends and Q3 begins!
2. Subscription services will continue to skyrocket.
This trend seen over the past 5 years or so, will only continue to go upward in 2019! Think of all of those commercials for a monthly box that can be dropped off at your door. The box could be for clothing, dog food, cat treats, books, food, entire menus, and even crafty projects for the kids! The monthly or bi-monthly boxes are growing more and more each month, studies have shown quarter after quarter for the past 2 years. Some boxes are $10/month, while other are more than $200month … but the trend is hot since so many people don’t wish to shop publicly or in many cases don’t have the time to shop. It is easier to request a box of goodies to be dropped off at their door for all members of their members, including the fur-babies.
3. Consumers will demand more control over their data.
During the past years, data breaches have shaken the consumer’s confidence in the security of all those apps on their phones. This year, for 2019, think about interactive content! Try to engage your client in a variety of ways to learn more about what they like, what they care about, and how they feel about the overall economic climate for the US. Selling data is no longer a wise trend to venue down polls indicated as 2018 ended. Plus nearly 72% of the data purchased during 2017 and most of 2018 was found to be highly inaccurate. I suggest you figure out to how to be interacting with your client base with
4. Everything that can be personalized will be personalized.
Personalization can take many forms! A recent survey found that the most popular varieties are coupons based on the customer’s locations, communications on the customer’s preferred channel, and recommendations based on past purchases or service history. Mobile apps for redeemable coupons are another great way to engage with your client base and make it personalized at the same time. Another type of personalization that’s sure to pay off is a “channel of choice” communication strategy. Consumers are turning away from live conversations in favor of services that don’t require talking, such as SMS and social media. Automated channels are also growing in popularity, with 49 percent using chatbots or automated assistants at least once per week. With that said, 45 percent of consumers are open to any channel, as long as the service is effective.
5. Socially irresponsible firms will struggle.
Corporate social responsibility has been gaining steam for years, but 2018 saw a star-studded vindication of the movement. In 2019 and into the future, expect social responsibility to be the table stakes of business. Some companies are changing how their corporate offices operate in order to embrace this trend. Some changes include employee volunteerism, selection of socially responsible suppliers, and grants for environmental initiatives.
I hope that you found these 5 trends for 2019 to be inspiring for your company! Reminder, the Talent Wellness Division of my company is able to help with 3 of these trends. To learn more, please visit: https://www.mwitalentwellness.com/