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Key Business Trends And Changes To Pay Attention To In 2021

Independent Owner/Entrepreneur of Sylvan Learning Center of Murrieta. Ensuring the educational success in Murrieta/Temecula, California.

The Covid-19 pandemic hit the world hard. For many businesses, it felt like ground zero, and reacting quickly was important for their survival. Since then, businesses all over the world have made rapid, fundamental changes and innovations. It is now evident that many norms that were acceptable before the pandemic hit will no longer work in 2021. 

With uncertainties growing and businesses trying out new things to stay afloat, the normal way of doing business is now archaic. In 2021, I believe the biggest and most successful companies will be the ones that have studied and adapted to the current trends the business world is leaning toward. Based on what I’ve seen, here are eight business trends and changes that we should look out for in 2021: 

Homes are the new offices. 

In 2020, many companies found a way to ensure that they remained in operation regardless of the pandemic. These companies realized that workers can still carry out their roles from the comfort of their homes. Not only that, but many employers are seeing the benefits of a remote workforce, such as cost savings and less equipment maintenance. I believe this new trend will continue in 2021 and beyond.

Companies that needed big commercial spaces can now move to smaller spaces because they no longer have to physically cater to a large workforce. Of course, many companies will still require on-site jobs, but the resources invested may be limited to only essential services. Video conferencing apps will continue to make communication between employees easier. 

Freelance work will continue to become more common.

As the workforce moves from physical to remote environments, a big trend is toward freelance work. Many individuals hoping to start a small service business on the side can now take freelance jobs and manage them with their full-time employment. This may ultimately lead to more consultancy startups. With the rise of freelancing, many companies may no longer see the need to hire and invest in permanent staff as freelancers can provide the same work at less cost.  

E-commerce and mobile commerce are the orders of the day.

With more people working from home and getting out less, e-commerce has been a lifesaver. E-commerce grew exponentially in 2020, and I believe this trend will continue. Smart companies that have physical businesses are moving them online in order to stay afloat, and social media has become a popular channel for buying things. By making use of social media, online businesses can set themselves up to gain more sales in 2021. 

At the same time, mobile-based businesses are getting more focus and attention. Mobile commerce is estimated to account for about 54{41490b4d0cf0dbc5ec3f65e11fff509c7d6ed2a53a838ebf7adf43f0908f07f3} (subscription required) of all e-commerce sales this year. With this growth, mobile payment options and solutions are important for businesses. Adapting to this trend will make it easier for companies to thrive online.

More processes will be automated.

Another top business trend that will rule 2021 is automation. Now more than ever, the need for automation is pressing. Come 2021, to make processes faster and reach out to more customers, businesses will need to evaluate their current processes and come up with ways to automate as much as possible. In 2021, I believe white-collar automation will be a trend as service industries look toward what aspects of white-collar jobs, such as medicine or law, can be automated. 

Faster networks will allow better communications with customers.

Despite the pandemic, 2020 witnessed a lot of digital innovations, including 5G networks. In 2021, these faster, smarter communication networks will make automated processes and all online processes easier. With better bandwidth and download speeds, online interactions will improve, which will allow businesses to better communicate and interact with their customers. 

Businesses will leverage influencers and brand ambassadors.

Social networks have evolved from a way to catch up with friends to a platform on which almost anything can be marketed and sold. These days, influencers use social media to create and share engaging content. They are not necessarily celebrities; however, they are able to pull in followers and influence what their followers buy. In 2021, businesses should look to collaborate with influencers in order to market their products and services to new and larger audiences. 

Contactless payment options will be more widely available.

In 2020, limits were placed on person-to-person contact to reduce the spread of the virus. This has made contactless payment options popular. According to Mastercard, in the earlier months of the pandemic, contactless payment options increased by 40{41490b4d0cf0dbc5ec3f65e11fff509c7d6ed2a53a838ebf7adf43f0908f07f3}. I believe online and mobile payments will continue to be popular in 2021, and businesses that aren’t already offering these options to their customers should consider doing so.

Many of these trends can help businesses run smoothly in the year ahead and give consumers a satisfactory experience. 

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