We’re less than a month into 2017, and if you haven’t thought about it already, it’s time to start paying attention to what’s trending for consumers in the new year. While many of the same trends that have been rising over the past few years will continue into 2017, there are also some new trends to follow that can increase your business revenue if you pay attention and adapt to the trends.
More People Online
This should be an obvious trend because of the increase in internet access throughout the world, with more rural communities getting high-speed internet, but it’s important to pay attention to. There are going to be far more people online in 2017 than 2016. In fact, research predicts that 3.5 million additional people around the world will come online each week in 2017.
That means, now, more than ever before, it’s important for you to have a strong online presence. And what better way to have a strong online presence than by having a website where customers can find all your important and relevant information? A website is a perfect way to set yourself up for success in 2017, and our friends at Atwill Media would be happy to help you accomplish that goal.
If you’re a wholesaler, we suggest signing up for an FGmarket listing so people can search through our directory of amazing vendors, and find your products with ease.
Fewer People Using Cash
Research shows that, although cash is still a dominant way that people pay for products, card payments have finally passed cash up in terms of popularity. The data shows that 44.1% of payments are made with cards, compared to 43% for cash. This number could reach 49.1% for card payments by the year 2021.
What this data suggests is that in the current market that we live in, POS systems and e-commerce options are now more important than ever. Most people, especially the younger generations (millennials and the generation after) don’t even carry cash with them anymore. If you accept only cash at your business and no options for paying with a card, you’re missing out on a huge chunk of the paying population.
More People Living In Cities
The percentage of the global population living in cities has now increased from 50% in 2007 to 55% in 2017. That means there are now more people living in urban areas than rural areas, and this trend is continuing to move upward.
Why does this matter to you, a business owner? It matters because, depending on where you live, you might be seeing an increase in your customer base or a decrease, and you’ll have to learn to adapt to this population change. If you’re a rural business and you’re noticing your customers moving farther and farther away, you might need to increase your marketing area to reach those people and bring them back to your shop. If you’re seeing an increase in business due to your urban shop location, you might have to adapt to the influx of customers to your shop. This could mean increasing your inventory, moving into a larger space (if you have a storefront), or hiring more staff to help out.
Healthy Living Is Rising In Popularity
A big trend right now is healthy living, which includes healthy eating, using organic and natural products, and exercising more.
The more people who choose to begin living a healthier life, the more the demand for natural, organic and healthy products goes up. The health and wellness industry is a huge industry and was valued at $711 billion in 2016. That number is expected to increase in 2017. If you’re looking to change your business model to an all organic or all natural model, now is the prime time to make the switch.
It’s a huge decision to completely change your business model, of course, but the reward might outweigh the risk for this trend.
Social Media Userbase Is Continuing To Grow
Facebook is still the largest social media network (by a long shot) at 1.5 billion worldwide users, and that number continues to grow every day. Some of the other growing accounts are Instagram (at 400 million users), Snapchat (at 200 million users), and Pinterest (at 100 million users).
Social media is a constantly expanding beast of interconnected people and places, and if you’re not on at least one social media network by this point in the technology’s lifespan, you’re seriously missing out.
These days, besides having a website, your business social account is one of the first places people check when researching whether or not to shop from your business. If you don’t have any form of social media, then you can expect your customers to perceive you as outdated, out of touch, and not as accessible as your competition.
Social Media has been a trend for a long time, but it’s growing larger and larger every year. Make sure you stay on top of this important trend.
Keep these trends in mind as you journey through the twists and turns that 2017 is sure to bring, and for more on what’s trending in wholesale products each month, check out the Product Information category of the FGmarket blog.