The Top Business Trends for 2022

Businesses throughout the United States participate in trend shifts regarding operations, marketing, and product development to stay competitive within their space. Even the smallest organizations operating online or locally need to keep tabs on the movements within large corporations and entire industries, as well as maintain their presence both within their communities and online to stay in business.

The number of entrepreneurs skyrocketed as a result of the pandemic, and this influx of roughly 4.4 million new businesses in 2020 means there are hundreds if not thousands of new practices and trends that need to be adopted to stay ahead of the curve. Here are a few ways to help your business participate in some of the more popular business trends making their mark in 2022.

Being Human

As new generations enter the workforce carrying new perspectives and values along with them, many businesses have responded by updating their company policies to reflect the humanity of their employees. Gone are the days when treating people as just a number was accepted.

Authenticity

Many companies now offer far more opportunities for their employees to engage with the company and be a part of the decision-making process. After decades of frustration with working for big businesses, many left the workforce to start their own companies that reflect their down-to-earth nature and flexibility. This authenticity goes a long way in attracting talent, as well as customers. If others can see your genuine desire to take care of your employees, they will be more willing to do business with you, knowing they will be taken care of as well.

Activism & Advocacy

Awareness regarding minorities, BIPOC, LGBTQIA2S+, and political or social injustices around the world has become impossible to ignore. The number of companies now publicly voicing their support of those within these communities is growing exponentially, whereas before it was viewed as inappropriate for a business to take a stance on any one issue.

Today, if a company does not voice its support and fund activism groups to back it up, many view the business as dated, out of touch, or even positioned against the community in which they reside.

It’s important to note that many companies end up virtue signaling without making any true difference in the lives of those they voice support for – and your employees will be able to spot this. By working alongside organizations already doing amazing things for marginalized people, a business can become a part of the solution, and stay in line with the needs of their employees and beyond! While this could be viewed as a trend, it’s hoped that acceptance and support for these causes become standard no matter the industry.

Entrepreneurship

Small business is booming. In 2021, over 5.4 million new businesses were filed, due much in part to the number of employees left without jobs after the pandemic’s brutal impact on companies worldwide. As companies take the difficult journey toward success, many small business resources have grown apace with the demand for tools and funds entrepreneurs need.

Fintech (Financial Technology) solutions have become a convenient go-to resource where entrepreneurs can obtain access to the funds needed for success. It’s often difficult in the early days of a business to keep employees paid during slow seasons or to fund the development of a new product, and even more challenging to take the time to fill out exhaustive paperwork at a bank when time is short!

Entrepreneurs are now taking part in the trend of applying online for a line of credit designed for small businesses, or business credit cards. Having the money to cover unexpected expenses can help keep a small business from going under only a few years after its beginning.

Easy access to funds is another trend we hope becomes and remains standard in the business world.

Reliving Memories

The funny thing about trends, is they often come back. Millennials – now between the ages of 28-42 – now participate in “adulting” by working, starting or growing their families, or often starting over after major setbacks due to the effects of the economy, global health crises, and more.

With the weight of newfound responsibility, and as an effort to relive some happier times, Millennials have become a huge source of revenue as they purchase products of nostalgic value.

Many companies are now using nostalgic marketing strategies and bringing back products previously beloved by Millennials 20+ years ago. If your goal is to target this demographic it might be worth trying some new (old) ways of getting customers’ attention through some ’80s and ’90s-themed visuals or products they can purchase to relive some memories.

Influencer Marketing

If you see someone sporting a new piece of apparel, trying a new recipe, or raving about a skincare product they just tried and they say: “I found it on TikTok!” – you just witnessed influencer marketing at work.

Macro-influencers have been sharing products online via Facebook, Youtube, and other social outlets for a while, but as their fame increased, viewers now know that well-known social media creators are getting a big paycheck to promote products that may or may not be what they say it is. As a result, the influencer marketing trend has shifted and companies are now starting to reach out to micro-influencers on social media with smaller followings, but a bigger rapport.

The benefits of sharing products and services via social media are still worth pursuing! Not only does a video from an influencer show real people using products in real-time, but it presents a product in such a way that triggers a “FOMO” (fear of missing out) response.

Seeing someone else with a product in hand, or on their person can take a customer from just scrolling through Instagram, to a quick add-to-cart in under a minute.

Some trends often come and go with little effect on a business’s bottom line. However, it’s still worth gleaning new tactics from popular trends that can and possibly will continue to become common business practices in the future. Stay informed, and you’ll be well ahead of the curve in enabling your business to thrive.

Photo by John Schnobrich on Unsplash