Top Business Trends to Watch in 2024
As we head into 2024, I want to share some actionable insights on key trends across various areas. Staying informed on these evolving consumer behaviors, technologies, workplace dynamics, and market forces will allow you to make strategic decisions about your offerings and operations to drive your continued success. So, let’s dive in!
Video content continues to dominate marketing strategies, as video performs better than any other channel across search, social media, and advertising campaigns. A robust YouTube channel helps you get found, delivers product and service knowledge, and keeps you in steady communication with your audience.
Opt-in membership, personalized subscription and loyalty programs continue to increase in popularity for products and services. These programs will help you retain customers and drive increased sales.
Hiring and Workforce Trends
While more businesses and organizations are moving away from remote and hybrid, these options will still be an attractive benefit to offer job candidates and can widen your pool of candidates.
Your employee policies and workplace environment matter more than ever. Create written policies to cover your operations and practices.
Supply Chain and Operations
Supply chain disruptions will still occur in 2024. If this has been an issue for your business, be sure to have contingency plans.
Customer Service and Experience
While speed and convenience of purchasing through digital channels is a top priority for consumers, consumers still value experience, and that means they will go to brick and mortar locations if the experience is appealing, fresh and convenient.
With the rise in cyber attacks in the news during 2023, customers will want assurances their data is safe and secure when they do business with you. Be sure to have the appropriate consent language when you ask customers to share their information and take robust precautions to protect your customers from hacking and other threats.
Technology and Automation
AI will gain widespread adoption, especially in customer engagement applications. Look for ways to integrate AI in your operations.
An increase of contactless payment tools, biometrics, digital orders and robots will minimize touchpoints in the retail/service spaces. If you minimize or lose personal contact with your customers in one area, look for other opportunities to engage in more personal experiences.
Consumer Taste and Design Trends
Businesses that offer customization and personalization options for their goods and services will continue to appeal to consumers.
Forecasters predict muted color palettes, natural patterns and textures, and cozy, soft furnishings will be popular as consumers seek comfort and serenity. Pantone selected “Peach Fuzz” as the color of the year for 2024, noting that this warm color “captures our desire to nurture ourselves and others. It’s a velvety gentle peach tone whose all-embracing spirit enriches mind, body, and soul.”
Keeping your finger on the pulse of these and other business trends for 2024 will help you plan ahead amid ongoing change. Consider which innovations align with your capabilities and customer needs. With flexibility and foresight, you can find opportunities to thrive in the year ahead.
If you would like to learn more about how these trends might apply to your business, let’s talk: