Are you looking to get the edge in your next DECA role-play? Brush up on the top business, marketing and hospitality trends that companies will be watching in 2023.
1. Talent Challenge
As workers reassess the impact of work on their lives, employers will be continually challenged to find talent for open positions. The Great Resignation and Quiet Quitting have resulted in employers offering more flexibility and opportunities for learning.
2. Corporate Social Responsibility
Companies need to invest in corporate social responsibility programs to attract both customers and employees. Over 75% of consumers are motivated to purchase from companies committed to making the world a better place with over 65% willing to pay more for goods from brands that demonstrate social commitment.
3. Supply Chain Efficiency
The supply chain issues of 2020-2022 have resulted in a significant increase in new vessels. The vessels will lower container rates and in turn lower shipping costs.
Live-streaming grew in popularity due to TikTok, Snapchat, Instagram and Twitch which feature live video content. Businesses will continue to use live-streaming to reach target audiences.
5. User-Generated Content
Unlike ads or branded content, user-generated content is created by regular consumers. Unboxing videos, makeup reviews and shopping haul videos will continue to be popular. Consumers appreciate the authenticity of user-generated content and trust it more than videos created by brands.
6. Story-Driven Content
Consumers are 85% more likely to buy a product after watching a video about it. Social media posts with images produce 180% more engagement than posts without images. Consumers of all ages like to feel engaged and part of the product story.
7. Workplace Sustainability
Offices will invest in more green initiatives such as solar panels or emission standards to lessen their footprint, save money and demonstrate environmental protection.
8. Wellness Tourism
Hotels and resorts will be focused on offering guests healthier options including better options in mini-bars, pillow and mattress menus, sleep/wakeup rituals aligned to circadian rhythms and additional spa services.
9. Mixed Age Travel
From Baby Boomers to newborns, the hospitality community will be implementing accommodations designed for multi-generational and mixed-age travelers. Look for options such as bunk rooms, loft beds and flexible furnishings.
10. Live Events Boom
Event planners are seeing an increase in events—even higher than in 2019 prior to the pandemic! Event planners will be focused on creating events that provide meaningful connections for participants, along with unique and exciting activities.