Talking about the business trends in 2019, actually, there would be various business types that will continue to rise from the last year.
According to the latest forecast of U.S. Federal Reserve, the national gross domestic product will rise by 2.5 percent in this year along with the decreased on inflation for a 10th of a point into up to 2 percent. The most obvious challenge for firms that are still in the growing stage is the prediction that the unemployment rate would be dropping. It may hit the record, which is 3.5 percent this year. So, if you are not sure about the resolution in 2019 for your company, here we have the top 5 business trends you might need to read.
The demand for more data control from users
Last year in May, there was a report from the European Union’s General Data Privacy Regulation that consumers demand more control over their data, both for personal and business data. Not long after that, the slew of U.S. states announced the statures of tightened breach notification. The notification is supposed to regulate and manage how student data can be used and sold by the business.
In 2019, it is better to not purchasing any data or getting the data without the consent of your consumers. Besides the regulation gives a certain pressure on companies that would do so, the Deloitte reported that over 70 percent of the data is not accurate. Instead, you may try to leverage the seasons with a themed poll, travel quiz, or a holiday gift guide to get more accurate data from your consumers.
Lending money from bank institutions will require the borrower such a long list of requirements. Some of them could not even pass the requirement and it makes them unable to apply for a loan. The innovation has been growing from recent years and it allows people to borrow money from non-bank institutions. For example, the trends of online loan become bigger and bigger last year.
However, alternative lenders need to simplify the entire process of lending. One of the online lending companies from Atlanta accessed more than USD 10 million every day in 2018 through its platform. The company also launched a certain application that supplies advice from experts like Tabatha Coffey and many more. This trend will surely continue in 2019.
It seemed that subscriptions services growth got slowed earlier in 2018. However, the industry still continues to grow impressively for one percent each month. Starting from food, apparel, up to lifestyle subscription services become the most popular.
On the other hand, the market would have a lot of space if you take subscriptions as a niche. A subscription service for stationary that was established in 2012 got sweet profits by charging USD 20 per month for stamps and three letterpress cards. No matter they would sell software or chew toys, companies with resolutions related to its revenue should also capitalize on this one of business trends.