5 Key Business Growth Trends for 2022

Sharing is caring!

pastedGraphic.png

SourceĀ 

 

The year 2022 is not even halfway through, and the business industry has already shaken the world with some loud news headlines. Elon Musk bought Twitter, Netflix has shown the first drop in subscribers since ever, and the Russian aggressive war against Ukraine is said to seriously damage the world grain trade and food security. It’s important to keep up to date with trends when running a business, so here are the 5 most important trends that will help your business grow in 2022.

E-Commerce Growth

The COVID-19 pandemic changed the way we do shopping. Because of lengthy lockdowns and many people trying to avoid public places, more purchases shifted to e-commerce. According to Statista, before the pandemic, only 7% of grocery shopping was done online. At its peak, online grocery retail reached 10%. The same tendency prevailed in other markets and countries. The whole e-commerce share of total retail in the United Kingdom got as high as 31% before settling down to 24% on January 31, 2021.

And the growth isn’t going to stop. In 2021, online shopping was accountable for 20% of retail share worldwide, and the number is supposed to go up to 22% in the year 2024. With 88% of retail executives naming e-commerce acceleration as their priority, going digital is a question of survival in the nearest future.

Luckily, businesses donā€™t need to pour lots of money into developing their online stores. You can use Shopify to design your store at a low cost or use marketplace giants like Amazon or Walmart to bring your goods online.Ā To further enhance your online presence and brand image, consider partnering with anĀ ecommerce branding agencyĀ that specializes in creating distinctive, engaging digital identities for ecommerce businesses.

pastedGraphic_1.png

Source

Social Media Marketing on the Rise

One can rarely find a business without social media presence today. In 2022, the six largest social media platforms got an average of 12,1% audience growth, with Instagram in the lead with 21% more users than last year. With people spending almost 24 hours a month browsing social media, it’s a too good opportunity for businesses to overlook.

It is a great entry point for clients to discover your business. With targeted advertising and many content formats, businesses get creative, making unique and engaging ads that hit right on target.

Another use of social media is developing and maintaining a brand identity. This is a perfect place to express your brand’s philosophy and style with creative visuals and copywriting. Though it sounds like it will cost a fortune, there are many ways to cut down expenses while making beautiful and engaging content. Marketers can use canvas free template or online visual editors that don’t cost too much and are easy to master.

pastedGraphic_2.png

Source

Big Data for Everyone

In 2022, surveys found that companies from nearly every field are now using Big Data. Fortune 1000 businesses invest 25% more into Big Data technologies than they used to four years ago. And it seems like the right thing because companies that use big data technologies see an average of 10% profit rise with an 8% decrease in spending.

Each industry that generates data can benefit from processing it. Airlines use them to optimize overbooking, e-commerce analyzes trade data to predict sales trends and maintain precise product supply, and streaming platforms analyze zettabytes of data to raise their profits by giving their viewers the right content at the right time.

Tensions Between Employers and Employees

Before the pandemic, 17% of employees worked entirely from home. Now, their number is 44%. And they don’t want things to be like they used to. About 89% of workers say they want to keep the opportunity to work remotely at least sometimes. Meanwhile, 83% of CEOs want their people back in the office. This conflict of interests along with the discontent many employees fill about the way their bosses treated them in the face of a global crisis and major health risks makes them pay more attention to their wellbeing instead of the prosperity of the company. In many cases, people feel vulnerable and unprotected.

Companies responded by taking more attention to the employee’s mental health. Over 92% of CEOs say that their businesses focus more on the psychological well-being of their workers than before the pandemic.

Millennials Replacing Baby Boomers

In the last couple of years, Millenials surpassed Boomers in quantity and are now the largest group generation-wise in the population of America. They spend about $2,5 trillion a year, drastically shifting consumer habits. One of the key tendencies of their preferences is the 90s nostalgia, which is responsible for the return of many iconic movie and series franchises in the past few years.

Conclusion

These are the key 2022 business trends to keep in mind for stable business growth. The world digitalization is in full bloom; Big Data promises many growth opportunities if you are willing to pay the price, and new young generations are taking over both as primary workforce and consumers. Make sure to adapt to new realities, and your business will be more successful than ever.