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Top Business Trends for 2016

January 2, 2016

business

 

One of the best parts of a New Year is getting to predict what lies ahead. Every January 1st, my family and I make predictions about what our friends and other relatives will get up to in the following year.

blow dry bar 2

Image via Blogs.Citysearch.com

Then, one year later we read our old predictions and see if we were right about anyone.

In the world of business, this tradition can be more than just an amusing game, as it’s always wise to stay on top of the latest industry trends.

So, if you want to stay ahead of the competition, take note of the following top business trends for 2016:

Beauty-Related Businesses

According to a recent MSN article, the beauty business will continue its recession-proof dominance, with new twists on traditional beauty services adding to the industry’s growth in 2016. For example, blow-dry bars (which I witnessed for the first time when walking around San Fransisco last summer) are popping up across the world’s trendy cities, including London. The article also notes that lipstick and nail polish sales both surged throughout 2015, despite the economic downturn.

Gamification

MSN also reports that the ‘Gamification’ phenomenon has been accelerating since 2010, with more and more businesses offering game-like applications to draw consumers into otherwise mundane tasks (e.g., filling out surveys). This design technique, sometimes called “funware” is all about engaging consumers by turning the buying/selling process into a game (i.e. frequent flier miles, Facebook competitions, etc.). The Gartner research firm has predicted that within the next two years, 70 present of the world’s leading companies will have a at least one gamified app.

Mobile Purchases

According to a recent Huffington Post article about 2016 business trends, an increasingly number of consumers will purchase items using their mobile phones. This is a trend that made significant headway in 2015, but it’s set to grow even more in the following year. EMarketer has projected that 37.5 million US consumers above the age of 13 will make at least one mobile purchases this year – and similar percentages can be expected for the UK. So, if your business hasn’t jumped on the smartphone app bandwagon yet – hurry up!

Eco-Friendly Energy Solutions

In an article for LondonLovesBusiness.com, Jon Bentley, Smarter Energy Leader and partner at IBM, predicted that 2016 will see a greater number of businesses adopting more sustainable systems of energy-use. Though this movement will be partially done with the environment in mind, Bentley notes that it also has a lot to do with cutting costs. Government initiatives will also play a large role in this green movement, with a smart meter programme planned for 2016.

 What do you think of these business trends? Do you have any other predictions for 2016? Let us know what you think in the comments section below.

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