HomeBusiness SuccessHere Are 7 Emerging Business Trends in 2020

    Here Are 7 Emerging Business Trends in 2020

    Keeping up-to-date on the latest business trends can give anyone an edge against their competition, and with the number of businesses steadily rising, the competition is getting fiercer. By reading the news and following the in-demand trends, it’s easier to improve sales, provide better customer service, and create a more efficient operation.

    Here’s a look at the current predictions that will likely go forward in the months to come.

    1. Oral Swabs Becoming an Alternative to a Traditional Drug Test

    Recently, a lot of employers faced increasing pressure to change their drug-testing procedures. Because of labor shortages, a few major manufacturers had no choice but to limit drug testing in their workforce. As a result, oral swabs are becoming increasingly popular. While they’re not there are many ways to pass a mouth swab drug test, they’re a quick and low-cost alternative to a traditional drug test.

    Recently, the Department of Health and Human Services (HHS) revised the mandatory guidelines for drug testing in the federal workplace. This requires every qualifying organization to comply with the new standards. The HHS is now permitting medical officers to recommend an alternative specimen during limited situations (e.g., employees can’t give enough urine during collection).

    2. Remote Work and Gig Work Becoming More Relevant

    Space and infrastructure can eat up a significant portion of a business owner’s budget. Real estate isn’t getting any cheaper, but every business needs to grow its workforce to expand. So what’s the solution? Remote work and gig work.

    Remote work, in particular, is being used by countless businesses, and this trend isn’t going to stop anytime soon. Employee apps and internet messaging are also making it easier to contact members regardless of their location.

    The gig economy is also steadily growing. Gallup reports that 36 percent of American workers are part of this economy. This type of employment is becoming more popular because people prefer flexible work hours and being more independent.

    3. Going Green

    More and more people are starting to adopt a “greener” lifestyle, especially in developed countries. The stock prices of plant-based food manufacturers that adopt an organic and eco-friendly policy are steadily rising.

    However, this trend isn’t limited to food, as consumers now prefer to support companies that are gearing their efforts toward reducing their carbon footprint. This includes the following measures:

    • Using sustainable materials
    • Lowering CO2 emissions
    • Saving energy

    4. The Subscription Box Craze

    A Statista report predicts that e-commerce on a global scale will reach $5 trillion in value within the following years. Online retail strategies such as subscription boxes are becoming more and more of a regular commodity. That is why every business owner within that sector needs to scale their business effectively if they want to be a step ahead of their competition.

    Taking advantage of social media and other free online platforms to promote your brand is the name of the game. A cutting-edge delivery system is also a plus when it comes to efficient scheduling and delivering more orders quickly.

    5. An Employee-Centric Attitude Is Important

    Promotions and big paychecks aren’t enough to keep employees happy. They need to be satisfied with their roles and feel like an essential part of the system. Everyone knows that employee happiness ties directly to their levels of productivity.

    Long gone are the days where workers dread going to the drab and dull office. Now, companies are trying to boost morale by offering open workspaces, free snacks, colorful walls, and even rooms dedicated to recuperation and entertainment.

    6. Personalized Customer Service

    Giving a customer an experience that suits their needs and preferences will encourage them to make the next purchase. For example, Amazon will provide a list of product recommendations that tailor to a customer’s buying taste.

    Personalized customer service can also pave the way for free promotions. With social media platforms becoming more popular, consumers may even share their experience with a product or service if they had a fun and easy time making a purchase.

    7. Making the Switch to 5G

    With talk of 5G releasing soon, it can mean a drastic change in the way people use online networks. 5G can potentially open new avenues that weren’t possible before. To give you an idea, this new tech can reach a speed of 1 Gbps, which can create faster customer interactions and more efficient forms of online networking.

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