Business trends to watch out for in 2019

It’s a new year and you’ve probably set up some resolutions for your business as well as goals and targets after a review of 2018. But before you finalise anything, it’s important to keep abreast of those trends that will affect your industry and the business world in general.

Going forward into 2019, what is it you need to know?

Time to get serious about AI

This is the age of chatbots and virtual assistants, so if you aren’t already on board, it’s time to get involved with artificial intelligence (AI). Large corporations like Amazon, Apple, Facebook and the like are all investing heavily in research and development of AI so as to provide customers with the best experience available.

As AI relies on particular processors that complement the CPU, there is becoming an increasing demand for specialised chips that will enable AI technology to run smoothly and efficiently.

You may be familiar with the concept that “the customer is always right”, and now the trend is going towards increasing the customer journey experience so as customers become more familiar with AI, your business also needs to be able to cater.

Online assistants are able to complete more customer service tasks and provide a greater customer journey with efficient interactions. The immediacy of these assistants is an attractive feature for today’s customers.

Payment methods are changing

Customers are always looking for a more flexible payment option, which we saw with Bitcoin and blockchain. Over the last decade, many different payment methods have started to pop up and as a business, you need to keep up with these changes so you remain current and in line with the expectations of your customers.

Speed is important but so is security, contactless credit card payments, and more recently, mobile payments are becoming the popular choice for instore purchases. The digital era demands a quick tap-and-wave payment function and what exactly these payment methods offer.

Of course, don’t forget traditional payment methods, but having digital methods including credit card and even PayPal will increase a business’s appeal and accessibility. Alternative funds like Bitcoin also seem to be increasing in popularity. Don’t get left behind in this arena because if you offer options like cryptocurrency payments, you are sure to be seen as a market innovator.

Free shipping is a brilliant selling point

There is a growing demand for shipping that is quick and FREE. You can see this with the recent Black Friday battle amongst big retailers to gain customer loyalty with the best shipping deals.

Recent statistics have shown that even with free shipping, the average time people are willing to wait has dropped from 5.5 days to 4.5 days, with now large businesses like Amazon offering a two-day standard shipping time.

Therefore, direct-to-consumer e-commerce brands will soon need to look at the best shipping deals and not just focus on delivery times.

Flexible working conditions are here to stay

Traditionally, working hours have been 9am to 5pm, Monday to Friday but in recent times, with the introduction of mobility with laptops, smartphones and tablets, the need for a flexible working week is increasing. And with many different ways to launch businesses, flexible working conditions are here to stay. Working remotely, or having non-traditional work hours are becoming some of the norms of today’s workforce.

What is known as the gig economy is becoming more commonplace, with contract and freelance work being preferred by people to assist with changing life circumstances. There is an emphasis on work-life balance and spending time outside of work, which will definitely continue into the future. In fact, by 2020, it is anticipated that nearly three-quarters of all employees will be mobile employees.

Going into the new year, you may want to consider whether your workplace has remote work policies that ensure productivity and flexibility. At the end of the day, we are reaching the point where there is an expectation that employees have an option to work remotely or untraditional work hours.

With a new year comes the opportunity to change things up. Take a look at your business and see if you’re all set to take on the trends of 2019.



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