10 Business, Marketing and Hospitality Trends to Watch in 2023

December 15, 2022

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.

4. Live-Streaming

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.

Questions?

Randi Bibiano
Competitive Events Specialist
randi@deca.org

Randi Bibiano is DECA's competitive events specialist. In this role, she conceptualizes and authors role-play scenarios for the collegiate and high school division’s competitive events programs. She also manages DECA's online competitive events and serves as a liaison to volunteer efforts at DECA's educational conferences.

Discussion Questions

  • 1
    Which of these trends do you think will have the greatest impact in 2023? Why?
  • 2
    Which of these trends do you think will have the least impact in 2023? Why?
  • 3
    Research another trend predicition for 2023 not on this list. Why do you think that trend is important for the coming year?
  • 4
    Check out the "Ten Business Trends to Watch for in 2022" article on DECA Direct. Select two trends from the article and discuss how the trends came to life (or not) during 2022.

Classroom Connection

Career CLuster:

Instructional Area(s):

Performance Indicators:

Describe current business trends
Describe current issues and trends in the hospitality and tourism industry
Describe current issues/trends in marketing communications
Develop insights using trends occurring in other industries
Describe current issues and trends in the hotel/lodging industry
Explain trends in human resources management
Identify issues and trends in travel and tourism
Describe trends in international distribution systems