The economy is endlessly shifting and stability is a seemingly lost cause in the business world. Still, certain business trends stand out in today’s industries.
Here is a list of the top ten business trends according to Frannet.com:
- Generation Y: Today’s youth have more purchasing power than any youngsters before them. Whether it’s their own money or their parents’, Generation Y accounts for more and more purchase decisions every year…
- Green Ideas: The environment is of much greater concern for today’s consumer than ever before. Products and services that help save energy and/or use renewable resources and/or reduce waster are in high demand…
- Education: Consumers are becoming avid learners, but they aren’t necessarily flocking to universities. Today’s busy buyers want to upgrade their skills quickly and conveniently. Online courses and community colleges are fast becoming one of the most popular ways to get the skills you need for a better job…
- Internet: No big surprise here. The internet is now cemented into our everyday lives. Buyers are constantly seeking our better connectivity and new gadgets. They are also spending more and more money shopping online and are even exploring ways to make their living in the virtual world…
- ‘Mom’ Outsourcing: Lots of parents are reclaiming their lives outside of parenthood, which includes holding jobs, enjoying hobbies and much more. As a result, entrepreneurs have identified a need for “parent replacement services.” Childcare, tutoring and test preparation, housekeeping, driving academies, after school programs, and related services form a multi-million dollar industry.
- Organics: In the same vein as the green movement, people are taking an increasing interest in buying organic, whether its organic clothes, pesticide free produce, or more natural versions of their favorite items. Hand in hand with this trend is the desire to support products produced locally…
- Pets: The pet industry is big and getting bigger all the time. Not only is there the purchase of the pet itself, but entrepreneurs are capitalizing on the resulting need for pet foods, pet toys, pet care items, training, health care and grooming, special care for older animals, organic pet products and services, and even pet burials, cremations and memorial services.
- Recessionomics: In a recession, people are trying hard to hang on to every dollar they’ve got. Clever entrepreneurs have capitalized on this fact and developed an industry that, ironically, has been spurred by the dwindling global economy…
- Seniors: Older adults are a force to be reckoned with in the marketplace. Aging baby boomers now represent about one third of all Canadians, which means a lot of businesses will rise or fall based on their ability to cater to seniors…
- Wellness: Buyers have started taking an interest in their health that reaches far beyond yearly physicals and biannual trips to the dentist. The herbal supplement industry is growing exponentially and businesses based around holistic health- naturopathic medicine, massage, therapy, acupuncture, yoga and the like- are experiencing a boom.
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