Do you ever wish you had a crystal ball to see the future and know which trends this year will continue into the new year?
Every business owner would love the ability to predict the future. Think of all the opportunities you’d see and what you could do differently to have a positive impact up ahead.
Right now, there is a lot of online chatter about the trends this year. How can you use these trends to predict and plan what will happen to your business next year or in the future?
These are my predictions for the top four trends that will continue into 2023.
The COVID-19 Pandemic forced eCommerce on us quickly. eCommerce has slowed some post-pandemic, but it’s still growing steadily. In 2019, eCommerce accounted for only 14% of retail sales. In 2023, it's projected to be more than 22%.
Now, people are shopping differently. Instead of going to stores to browse, more people search the internet for what they want first. I like to call this “eShopping” instead of window shopping.
Once they figure out what they want, they either go to the store and buy it (if it’s locally sourced) or buy it online from the eCommerce store. That’s why it’s so important to set up an eCommerce store so they can purchase from you.
How is your web presence? Do you have a website? Do you have an eCommerce store set up? If not, that should be near the top of your goal list for 2023.
2. Social Media
How is your social media presence? In a recent study, nearly 80% of people say that the most important group operates online. This is causing more businesses to use influencer marketing. Smaller niche retailers use micro-influencers more frequently.
Social media is about creating engaging and informative content for your loyal audience. Working with micro-influencers could be an excellent option for your shop. They are well known to their communities and influence the purchases they make.
You can search social media platforms for a micro-influencer in your niche and reach out to them to help promote your products and services. This can be one of the most effective strategies to help you connect with more of your audience online.
People are looking for genuine, non-beautified, meaningful, and authentic connections. It’s essential for brands to develop a rapport with their customers. It allows customers to trust what they buy and creates long-term relationships. Authenticity is becoming more critical for businesses to demonstrate.
We like to see honesty, compassion, vulnerability, and humility in the people we purchase from. We want to know who’s behind the brand and what’s important to them.
Because we all crave connection, your customers and team members want to be a part of your purpose and mission. They want to know why you are passionate about your product and business. When we connect with our customers and team on the “why level,” we create loyal and lasting relationships.
While we can’t actually predict the future, following these four trends will provide the best possible outcome for you and your customers.
Having financial freedom helps businesses and business owners fulfill their purpose. It’s why we do what we do at Curtis Accounting Solutions! We are passionate about assisting quilt shop owners profitably grow their businesses and understand the trends in business this year.