https://fonts.googleapis.com/css2?family=Montserrat:wght@400;500;700&display=swapstylesheettext/css

New Business Trends in 2020

  • Jan 27, 2020
  • By Miles Malferrari

#


Business trends are the great tidbits of information that help entrepreneurs and businessmen make smarter decisions. These can help improve output efficiency, quality, revenue, social presence, among other things. So without further ado, let’s take a look at new business trends in 2020 to start off the new decade as well informed as you could be.


Personalized Customer Service


In this day and age, people no longer like browsing through an entire catalogue of kitchenware just to look for a knife of a particular shape and make. Especially in online shopping stores like alibaba or shoppee, the product catalogue is “tailor-made” to what each customer already has a predisposition to buying. Studies show that this approach to sales can boost profits by up to 15%, and is made possible by smart personalization engines that take advantage of user data and history.


Large Growth in Industry-Specific Startups


Niche market serving startups are seeing huge growth in their businesses. These are typically markets that provide products and services you normally won’t find in large and diverse retailers like Amazon.


Customer Reviews and Testimonies are Important


Is your make or break for deciding on a purchase the comments or review section of the store or product? You’re not alone.Almost everyone hesitates to follow through when there aren’t any positive real world reviews from other humans, and this is especially important for smaller businesses that don’t have a pre-existing reputation to back them up.


Increasing Preference for Remote Work

With the premium for real estate going up as we run out of space, smaller businesses are having a harder time finding ways to get office space for their employees. Good thing strides in technology have made remote work more accessible. Remote work is now at a point where both sides win as employers save on overhead costs while employees can enjoy more flexible work arrangements without sacrificing communication and ability to deliver. There is also the added benefit of seeking out talent or work from beyond your nation’s borders.


Increasing Preference for Contractual Work


Freelance contractual work, more commonly referred to as ‘gigs’, are becoming more and more fashionable as workers are looking for more flexible options for their work arrangements. As many small businesses may not be able to accommodate full-time regular employees, temporary employment options are preferred as it also allows them to filter through the talent pool without spending too much.



And there you have it, new trends for 2020 that you can use to your advantage and get ahead of the curve. As the times keep changing, it is critical to always keep an ear to the ground and stay informed. All that’s left to do is get to it and hustle!




Related Articles



Side Hustles for Valentine’s Day
Side Hustles for Valentine’s Day
Feb 06, 2020
  • BY Miles Malferrari
  • Valentine’s Day is hard to screw up, easy to understand, and awesome for business. In fact, it’s so good for entrepre...
    Common Freelancer Mistakes (and How to Avoid Them)
    Common Freelancer Mistakes (and How to Avoid Them)
    Sep 24, 2019
  • BY Miles Malferrari
  • It’s been said enough times - being a freelancer is no easy task. Having the freedom to do anything you want at any t...
    SME Trends For The New Normal
    SME Trends For The New Normal
    Jul 03, 2020
  • BY Miles Malferrari
  • As the economy begins to re-open, we have unfortunately had to say goodbye to a lot of businesses closing their doors...
    Influential Filipinas in Business Today
    Influential Filipinas in Business Today
    Mar 04, 2020
  • BY Miles Malferrari
  • To kickstart International Women’s Month, we are going to delve into a topic that isn’t talked about as often as it s...
    Why Your Health is they Key to Your Success
    Why Your Health is they Key to Your Success
    Nov 03, 2019
  • BY Miles Malferrari
  • First, let’s define “health”. Circling back to Google, health is “the state of being free from illness or injury.'' E...
    Illnesses to Watch Out for this 2020
    Illnesses to Watch Out for this 2020
    Feb 04, 2020
  • BY Miles Malferrari
  • The start of a new decade often comes with celebration and promise, but it’s no reason to let your guard down. Diseas...