Business is a well-fluctuating world where change is inevitable. Business scenarios change in a blink of an eye, and changes and new trends are constant. To add to this, we are not living in a digital era where trends, if they are good, spread wide within a matter of days and cause implications that change the business world forever.
Sure, it may have taken years for the change to be implemented and developed, but the changing trends do not care about that - all it cares about is how well-received the trend is. The funny thing is that these trends come up almost every year except for a few slow years, and the year 2022 was similar too. But what are the top business trend in 2022 Edition?
This is what we are here to discuss.
Top Business Trends of 2022!
As we said earlier, we are in a digital age where technology is evolving at light speed. And because of this evolution, the application of technological trends in our everyday life is also growing rapidly. In fact, most of the top trends in business 2022 have to do with technology.
The trends that do not have a direct link with technology are either about the changing work mentality or the work concept. But what are those trends?
Well, without any further ado, let's get started!
1) Sustainable Operations
Like how technology is growing, the concern over the environment and resources is also growing. This includes materials and human resources as well. This is among those business trends that do not directly relate to technology. The concept is rather simple, given that no business can run without resources, and with the world running out of resources, every business in the world has begun sustainable operations.
The concept behind sustainable operations is simple- use resources more efficiently and ensure minimum collateral damage to the environment and other aspects. I am running a few minutes late; my previous meeting is running over.
2) Humans and Robots Combine!
Robots have been an aspect of Science Fiction for a long time, but we have been living in this world lately. Sure, the robots are less advanced and humanoid than in the movies. But we have Artificial Intelligence Powered Robots that can perform a wide range of tasks such as ChatGPT (Yes we have an article on this).
This year, the world began to work with AI-powered robots even more, and such machines have been implemented in a wide range of fields, such as medicine, marketing and manufacturing.
3) Increase hybrid workstations and flexible work hours.
This business trend is a simple one. Ever since the onset of the pandemic, people began to see the benefits of having flexible work time, and as a result, a new generation of the workforce is reluctant to work in fixed schedules of 9 to 5. This reluctance is based on more than just fixed work hours. Over the past two years, Airtasker found that flexible workers and hybrid workstations increase an employee's working hours by up to 16.8 days per year, enhancing the work-life balance and productivity significantly.
From this, we can see why more and more people are opting for hybrid workstations and flexible work hours.
4) Fall of Crypto Currency
This trend for business in 2022 is blatantly obvious, and we all saw this common years prior. Ever since Bitcoin got the limelight and rose to popularity, cryptocurrency has been on a continuous rise. Alternatives of Bitcoin, like ETH Coin, were also continuously on the rise. However, 2022 saw a massive fall in the values. Bitcoin and ETH coins are big names in cryptocurrency, and both saw a significant downfall in their value.
From November 2021 to November 2022, the value of bitcoin fell from around 7 million to barely over 2 million. Similarly, the value of Ethereum fell from a peak of 5 hundred thousand US dollars on November 2021 to barely over 150 thousand in November 2022. The scenarios in quite similar for other forms of cryptocurrencies as well. As a matter of fact, the overall crypto market saw a loss of a little over 2 trillion US Dollars in 2022.
5) Increased Productivity with Predictive Software
Predictive software is simply a product of advancing technological trends and combines traditional data computing systems with pattern-learning artificial intelligence. By combining both of these aspects, predictive software allows us to predict some aspects of the future outcome by analyzing previous data patterns. While the production is not guaranteed to be accurate, it allows us to narrow our scope and focus on the few that matter. This implementation of predictive software naturally has led to an increase in productivity across a wide range of fields. From this, it is easy to see why this is one of the top business trend 2022.
6) Data-Driven Decision Making
Data-driven decision-making is similar to trend for business in 2022 as the implementation of predictive software and can even be called the next step after implementing predictive software. The concept behind this trend is linked with the implementation of advanced data computing systems, including predictive software.
The premise is simple - you extract data from the systems and analyze it to assist in making decisions. The people involved can even feed the data into additional processing software to narrow down the choices for decision-making. This inevitably makes the decision-making process efficient and quick.
7) Omnichannel Marketing
Omnichannel marketing is one of those top business trends in 2022 that took years to the development and suddenly flared up this year. This marketing concept has existed for years prior, along with the Multichannel marketing strategy. In all fairness, both of these marketing strategies share many similarities, with the core difference being their central focus and goals.
In our prior article, we have already discussed what Omnichannel Marketing is. If you want to know about this topic in further detail, do give it a read.
8) Social Selling and Virtual Customer Support
We live in a digital age where social media marketing and digital media marketing have taken over the business world. Therefore, the rise of social selling and virtual customer support is not unexpected. The premise for this business trend in 2022 is simple and logical and rather expected.
That said, we have covered this topic along with more social media trends of 2022 in an article prior as well. If you are interested in these, feel free to give them a read as well.
9) Shifting Talent Pool and Changing Employee Experience
While most of the trends in business were favourable this year, this is a business trend that has hurt most businesses. The sad aspect is that they are utterly helpless in this as well. The scenario is something like this - technology and its implementation in business are snowballing. Because of this, businesses constantly need to see new talents that can adapt and grow with the technology. This is a must if they want to keep up with updated technological trends. However, this also means they will need to hire primarily inexperienced personnel in long-term businesses.
Experienced employees are too busy or incapable of learning new skills, while those with time and fresh talent need to be more experienced in the business industry. Because of this shifting talent pool and employee experience dichotomy, this one has become one of the top business trends 2022 albeit a bit forced.
10) Rise of a Side hustle as an Alternative
The rise of side hustle is one of those obvious trends 2022. It is one of those trends that have been on the side ever side the onset of the pandemic. In the past, most people used to have full-time jobs and could do just about anything. But the global crisis put a lot of people out of jobs and created a lot of gaps in experience. As a result, side hustles as an alternative have been on the rise ever side. The funny thing is that even a year after everything went to normal, this trend has continued but is picking up pace.
People got an awakening during the crisis regarding the importance of having multiple sources of income, regardless of how minuscule it may be, as a backup should one collapse.
In the end
The general conclusion of the business trends 2022 is - Technology is improving, Robots are real, and they are working with us; the work scenario is changing with a flexible workplace and an increase in a side hustle. But as you all know, this is a partial list of all the business trends of 2022 by far. Still, we hope we did this list some justice.
We hope you found this informative. And as always, thank you for reading till the end.
Q: What do you think are the trends for business in 2022?
A: Some of the top business trends of 2022 are:
- Rise in Sustainable operation
- Humans, AI and robots working together
- Hybrid workspace
- Increase inside hustle
- Fall of Cryptocurrency
Q: What is the most popular business in 2022?
A: Some of the most popular businesses in 2022 are:
- Digital Marketing
- Business Consulting
- Graphics Design
Q: What is the fastest-growing business now?
A: The fastest-growing business at the time of this writing is Media, with an estimated annual growth rate of 198% per annum, followed by Security, with an estimated annual growth rate of 171% Per annum.