A New Year is a great time for a fresh start as well as a great time to learn about new business trends. After all, some “trends” from years past have become permanent fixtures on the business landscape. Remember when Zoom meetings were considered trendy? Now they’re an everyday part of business. But what are experts expecting to be the hot new thing this year? The experts at Allbusiness.com came up with a list of trends we should keep our eyes on. Here are three that we agree have an excellent chance of being big in 2022.
1. E-commerce businesses will thrive
Mike Kappel of AllBusiness writes: Many trends sprouted in the last year or so due to businesses needing to adapt to survive the pandemic. One trend that will continue to be strong in 2022 and beyond? E-commerce.
E-commerce businesses that sell products and services online are becoming huge. Why? Customers can easily and safely shop from home. And, business owners don’t have to worry about having a brick-and-mortar location. Not to mention, business owners can steer clear of some overhead costs; they can do all of their business online.
2. Cashless payments will become standard for businesses
This is something we’ve probably all noticed as the pandemic goes on. More and more businesses are encouraging customers to use cashless payment options. According to All Busines, cashless payments can include a variety of methods including:
- Credit and debit cards
- Mobile or digital wallets (think touch-free technology)
- Payment apps
All Business writes, “As technology advances, more cashless payment options will become available, which means your business may have no choice but to keep up to satisfy customers. In addition to accepting standard payments, consider also adding a cashless payment option or two to your list. That way, you can keep up with the times while also giving your loyal customers a few options when it comes time to pay.”
On a side note, there have been numerous viral social media posts that insist it’s against federal law for retailers to not accept cash. That’s not actually true, according to USA Today although some states have passed laws requiring businesses to accept cash. And the Department of the Treasury also makes it clear on their website that businesses do not have to accept cash “There is…no Federal statute mandating that a private business, a person or an organization must accept currency or coins as for payment for goods and/or services. Private businesses are free to develop their own policies on whether or not to accept cash unless there is a State law which says otherwise.”
3. Communication applications will only grow in importance
Kappel says, “A big part of making your business work is prioritizing clear communication with your team. Otherwise, poor communication with your team could lead to poor collaboration and even workplace drama. To strengthen communication in this remote era, communication tools and applications have become a must-have trend. And if I had to guess, it will continue being a big part of the year to come.
Communication tools and applications can help your team, remote or not. Applications and tools, like video conferencing software and messaging platforms, have been booming since Covid struck in 2020. And like remote work, they will probably be around for quite some time.”
And Kappel advises, “If you haven’t already done so already and want to keep up with the latest trends, try out some new communication applications at your business. See what works and doesn’t work, and what helps improve your team’s ability to communicate and work together.”
It’s fun to consider what trends will be popular in the coming year. But it can also be helpful for your business. Knowing what’s coming can help you prepare for it, and help you to decide if it’s something you’ll want to embrace. But you have to have the bandwidth to keep up with trends and make business decisions. That’s where VersaTel Solutions can come in. We take over tasks like bookkeeping and HR duties. That way, you can keep concentrating on growing your business. Reach out to us to see how we can give you a hand in 2022.