While the naughts really brought in technology and the internet as the biggest trends in business, the teens refined on these principals, with an increase in local businesses, at-home business, and green business. Experts suggest that the ’20s are due for an overhaul when it comes to how business gets done and what you should expect it to look like.
So much of the predictions that have to do with the business sector in 2020 have to do with automatization and convenience. By bringing in more robotics, sophisticated tech, and smaller-still computers, the tech aspects of a business are continuing to surge. With green movements in full force globally, businesses should be looking for clever ways to downsize, lowering their carbon footprint and responding to the consumer drive for locally sourced goods.
Compactus retailer discusses the future of modern business
While this isn’t to say that global economies will cease to exist, a deflated faith in global trading markets, ever-increasing tariffs, and major political instability leaves consumers wanting better choices made available to them in their own countries. While it may sound a bit like a Marxist Utopia on the horizon, the reality is that business owners want better control of their assets and consumers are looking for simplicity.
“Cost of property per square meter is rapidly rising. Consumers feel better about purchasing items that are local, organic, or responsibly sourced- but neither purveyors nor paying customers want to pay the premiums historically associated with these items,” says a spokesperson from one of Australia’s largest mom and pop storage shops Premier Lockers.
What makes them such an authority on the subject isn’t just their infinite knowledge on compactus storage units that are answering a growing need to save space, but also an early innovative move to get their business online and in the homes of millions of Australians. Coupling easily navigable online ordering with in-home installation saved them from needing to pay for expensive brick and mortar operations throughout the country.
“To us, it seems that downsizing in order to provide better service and better quality materials will definitely be the trend to watch in 2020.”
- 1. Localization of business
The push for locally sourced and produced goods and services is higher now than it has been since before global marketing became widely available. For many, this has much to do with the current political climates. The trade war between the US and China has deterred many from historical purchase patterns due to the increasing cost of goods. Brexit has changed the demand for many goods across Europe. As the global market continues to further complicate itself and hike up costs associated with the goods we use most, people are demanding a change.
- 2. Automation
More and more jobs throughout the world are quickly becoming automated, with more sure to come.
“The compactus system that we see so many small businesses using successfully became nearly obsolete with increases in automation.”
The company says, “What brought it back around was business owners needed a reliable place to store stock and other goods while floor space became a premium.”
Premier Lockers believes that continued trends in automation will further push business owners into clever ways of organizing and storing the utensils that they require on a daily basis.
- 3. Downsizing
Thanks to online ordering and an onslaught of web-based business, businesses are beginning to shift away from brick and mortar chains. Where you may once have many different physical locations, consumers are beginning to favor the ease and convenience of ordering their necessities online and having them delivered to their door. This creates a unique opportunity for businesses to save on operational costs, which also allows consumers to get in on the deal.
- 4. App-based business
‘There’s an App for that’ is more than just a comedic phrase, it’s become increasingly true. As technology shifts and gears business even more directly toward consumer desires, app-based business is booming. Apps allow businesses to send out important information on stock, as well as circulars and promotions, without the cost of print to work around. Consumers can stay on top of deals with instant notifications and can even contact shops directly in a standard messaging format.
“Anything that makes it easier for your clients to browse, purchase, and utilize your product is sure to be a clear win for your business.”
The nationwide compactus dealer hopes to see their goods available to consumers via app in the future.
“It’s a sales floor that resides directly in your customer’s hands.”