The Future of Business: 5 Key Business Trends to Watch Out for in 2020

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It’s predicted that by 2028, 73% of all business teams will have remote workers.

Who would have guessed 20 years ago that such a large portion of the workforce would be working out of the office?

It’s interesting to see how business trends bend and evolve as the years pass. The future of business is always changing, but it can’t hurt to get a jump on the upcoming year’s trends, right?

Check out our guide below for 5 of the business trends to look out for in 2020.

7 Key Business Trends to Watch Out in 2020

key business trends to watch out

1. The Use of Stories

Stories have grown in popularity on apps like Snapchat and Instagram. Stories give businesses the ability to capture their audience’s attention for 24 hours. It humanizes a company and gives them a more authentic vibe than a planned post can.

Businesses can also give viewers the option to “swipe up” on their Instagram stories in order to link them to their website or a product listing. It’s a great way to push new products or limited time offers.

2. A Simple Innovation: Electronic Pay Stubs

As 2020 progresses, you will see more and more businesses making the switch to electronic pay stubs. It’s more time-efficient, and it allows you to pay your employees without hitches.

Electronic pay stub software, like the one at paystubcreator.net, simplifies the payroll process and gives employees more transparent access to their financial records. Plus, it’s a more environmentally friendly choice, if you want to cut down on your paper use.

3. The Rise of 5G

5G is going to rise in popularity in 2020. With crazy fast download and upload speeds, a 5G network can completely change how a business runs.

Operations will rise in speed, and employees will be able to communicate faster, with both each other and with customers.

4. Happy Employees Are the Future of Business

Happy, healthy employees are critical to the success of a business. The mental and physical state of an employee has a direct correlation on their productivity.

Businesses in 2020 will be working to improve the quality of work for their employees to better engage with the company and increase productivity levels.

This means businesses will be working to support the desire for benefits in the workplace. In order to feel comfortable and capable of working, employees want to be able to have benefits and a company that supports their efforts.

5. The Younger Generation

Businesses will have to focus on appealing to their youth demographic, as they are the future of business consumption. As millennials and Gen Z consumers engage more with businesses, it’s important that companies appeal to their desires and buying habits.

This means adopting social media marketing campaigns and tracking trends that appeal to these younger generations.

6. User reviews will be the King

Now-a-days, user reviews play a vital role to decide the product quality. It gives more comfortable and trust worthy to buy the product, as this is tried and have reviewed by someone.

So, this becomes a criterion for buying a product. One will hesitate to buy a product if there is no review on it. A product with 4 star rating influences one to buy the product.

So, if a brand is purchased and reviewed it by a real person, it makes trust worthy and increases the sale of the product. We can see more such businesses in the future, focusing on this very crucial aspect.

7. E-commerce will be a dominator

A report says that the global e-commerce will grow about $5 trillion within next few years.   As a result, tons of retailers are moving investments from brick-and-mortar storefronts to online stores.

Social media are more influenced to increase their sales in online. Also, they use a cutting edge warehouse to ship the orders more quickly.

Staying on Top of the Ball

If you want to compete with other growing businesses, it’s critical that you stay up to date on all the biggest business trends of 2020.

The easiest way to develop and maintain a client base is by capitalizing on what’s popular with them and adopting current trends to keep up with the future of business.

Check out the rest of our website for more key business trends or read articles on business, finance, and all things tech.

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Author: Cathy Carter