These below were the key 🔑 trends that will impact businesses in 2020 and beyond, wrote this notes in January and funny enough never shared. Now with the #Covid19 effect are they still relevant?
End consumer with steady purchasing habit.
Consumer sentiment will remain trong. With consumer spending representing two-thirds of most of the global economy, business-to-consumer companies will continue to perform well. Sector research showed that online sales will grow approximately a 13% in 2020, Due to this 2020 should be a strong year for consumerism.
What happens when four giant companies launch a product into a busy sector at the once?
Study shows that the average consumer will subscribe to three to five streaming services. So bad news for Netflix? which had the competitive advantage but is now subject to new competition from Disney+, Apple, Amazon Prime.
Tech war with governments.
Tech stocks are under fire. In Europe, Facebook, Apple, Netflix and Google are under attack by EU regulators over privacy so expect some war around antitrust policies, fines and so on.
All about social responsibility for businesses.
Perhaps at no time in history have businesses been more in tune with their responsibility to protect the environment, ensure equality and advocate for social issues.
While many startups and social enterprises have long sought out double and triple bottom-line results, there is a sea change underfoot where more traditional businesses are seeking out their purpose beyond making a profit.
What’s going on in Europe
In France there are strikes , slowing production in Germany, Brexit, and Italy Politics make for a slumping European economy. If interest rates go below sustainable levels, the global economy could be heading into a recession. Business leaders should be proactive in identifying predictive indicators that correlate with demand.