The Dish on 2016’s Top Small Business Trends
A recent article, Countdown to 2016: Hot Small Business Trends for the Coming Year by Rieva Lesonsky says that new year is the best time to embrace new ideas and concepts to grow your small business or get the push you need to start a business.
Here are the small business trends you should consider in 2016.
Technology plays a big part
One aspect that’s sure to get hotter is mobile commerce— 80 percent of customers want retailers to offer more mobile deals and coupons.
Millennials also known as Gen Y (born between 1982 and 2000)
- For wedding industry ‐‐ expect a larger number of weddings as the volume of Gen Y starts reaching the normal age for getting married (27 for women, 29 for men). Therefore, it’s crucial to be tech‐savvy since 93 percent of them use online resources.
- For home décor industry ‐‐ Gen Y wants smaller, functional homes with technological innovations.
- Gen Y is also essential as potential employees. Below are tips to help your business appeal to this influential generation:
- Promote a culture of collaboration.
- Invest in a modern workplace like team office space or flexible office space.
- Live by a strong mission and value systems.
Retail sales are on the upswing
Free shipping influences consumers to purchase online and 48 percent of consumers spend more to make free shipping minimums.
What are consumers spending on?
- Household pet products and services
- Men’s grooming products and services
- Athletic clothing market
- Artisanal foods
- Gourmet‐style ice cream sandwiches
Gen Z (Americans born between 2001 and the present day)
Don’t forget the kids‐‐ the first generation born in a digital world. They choose shopping online at sites that also have physical stores.
Embracing new business trends will help your business thrive‐‐ go with the flow to stay afloat. Another business trend is the coworking space concept that will surely attract millennial workers. YourOffice has come alongside hundreds of business looking for everything from staffed flexible offices to agile office space. We know your business is unique, and your office space shouldn’t be any different. Let us match the perfect space or service to fit your business needs.