Some of the leading trends in 2023 are the top small business trends heading into 2023.
With the end of 2023 and the start of 2024 just around the corner, many of our clients often wonder about the top trends heading into the new year. We have covered many of these trends in the last several months in the Zip Capital Group newsletter and on social media, so you shouldn’t be surprised by the list of top small business trends heading into 2024.
As we start a new year, small businesses and consumers alike have a lot of uncertainty about the future. Some trends emerged in 2023 that appear to extend into the New Year. However, that doesn’t guarantee that they will persist.
Going into the New Year, there are several trends that small business owners can monitor to gain an advantage over their competition. With potential impacts over the long-term and in day-to-day operations, many of our clients are monitoring the following trends:
Artificial intelligence will remain a beckoning force.
Artificial intelligence (AI) is a contentious topic with ramifications extending far beyond the tech industry. AI is leading the way in many fields, including business. According to Constant Contact’s Small Business Now Report, 91% of small businesses who use AI claim it has improved their company’s success. AI has advantages for your company’s operations, marketing, and other areas, so it would be worthwhile to investigate how it can help.
It is all about the human touch.
With everything becoming more computerized, soft skills are more important than ever. Emotional intelligence is very much of the now, even though artificial intelligence might be the future. According to a recent Redpoint Global study, 77% of consumers think human interaction is necessary for a pleasant customer experience. This is even more incentive for you and your staff to keep improving your interpersonal skills.
Leading with the customer experience.
While product quality and price are significant, the “customer experience economy” idea is paramount. What effect does that have on your company? Delivering a satisfying client experience from research to the point of sale at every stage. Whether interacting with a consumer online or in person, meet them where they are and try to make their experience as unique as you can.
Cybersecurity continues to be an important issue for everyone.
An economy that is powered by data requires cybersecurity. As data collection and analysis become routine procedures, customers demand assurance that their data is handled securely and ethically. Concerns regarding data security and privacy on smartphones are shared by 67% of users. Thankfully, you may take several precautions to shield yourself and your clients from online dangers.
Sustainability continues to be important.
For today’s consumer, sustainability is one of the most important factors. A recent NielsenIQ study found that 78% of US consumers value living sustainably and prefer doing business with companies that share similar values.
2024 is shaping up to be an exciting year for small business owners. Zip Capital Group wants to make sure you are ready for when the right opportunity presents itself. We help small businesses like yours with merchant cash advances and working capital financing. Contact us today at (800) 795-3919.