Businesses take their historical data and compile it to do a statistical analysis of a certain time frame to see how the business has progressed. If the analysis shows a constant growth, decline, or stability, this is considered a trend. Businesses use this information to help make decisions about making changes to the company, hiring practices, or statistical data. However, businesses also try to meet the demand that is needed to increase their business, which also affects the business trends.
What Are Latest Business Trends of 2011 and 2012
For 2011, there are some popular business trends because of a need that has to be met. People will always have needs and wants, and it is up to people and businesses to provide those to the public.
- Baby boomers are a major business trend for 2011. The baby boomers are a 76-million demographic and provide many opportunities for businesses. The average age of a baby boomer in 2011 will be 65-years-olds or older; therefore, the market for senior-friendly items will be booming.
- Travel and tourism is making a major comeback and becoming a business trend of 2011. By the end of 2011, tourism is supposed to reach revenue of $1.4 trillion, which includes hotels, flights, RV parks, travel agencies, and every other aspect of travel.
- Online shopping and social networking is another business trend of 2011. People who use social networks, such as Facebook, generally shop while they are online also. More people shop online now than ever before, and e-commerce is going social with websites, such as Facebook and Twitter.
- Home repair will always be a business trend because people will always have homes; however, some people are just now being able to afford to repair their homes because of the recession, so this makes home repair a business trend of 2011.
However, different countries and different areas have different needs, which make the business trends for certain countries or areas different. For example, the business trends in Europe would be different than the business trends in the USA.
Business Trends in USA
- A business trend that is popular in the USA is the youth population. Teenagers in America now influence so much of the market because they now own cars, carry iPhones, and are a large part of the consumer market.
- Green living and green power is another business trend for the USA. Many Americans are starting to do the environmental-friendly living by buying green cleaners to buying electric cars. Additionally, businesses and residential owners are starting to use green power, such as solar power to help the environment. Furthermore, many people are starting to recycle and use recycling bins.
- Physical fitness and health is also becoming a big business trend for the USA. Many Americans are now starting to see how important exercise and proper nutrition is; therefore, gyms, organic food, vitamins, and iPhone fitness applications are becoming big business trends in the USA.
If a business follows the business trends, that company has the capability of becoming a successful company by meeting a business trend.