- As the pandemic entered our lives almost two years back, the entire paradigm of the business world changed.
- The already dynamic business world has become more fragile due to the pandemic.
- Additionally, with spaces like Metaverse, seems like the digital paradigm will win over the market in 2022.
It is the course of nature that whenever a significant change occurs, the weakest are the most vulnerable to suffer the consequences. Thus, as the COVID-19 pandemic entered our lives almost two years back, the entire paradigm of the business world changed.
To adapt to the “new normal”, several businesses transformed themselves. Some launched new services and products to meet the public’s changing demand. Some entered cyberspace, and some had to close their businesses due to a sudden fall of investments and logistical support.
The road indeed has been rough for small business entrepreneurs across countries. However, those who have survived know that they would need to continue adapting to the new circumstances time and again.
As we enter 2022, several trends will reshape the small business landscape. So, let’s have a look at few of these trends.
- The rise of entrepreneurship: It is interesting how entrepreneurship is evolving. We have seen hundreds of people transform their passion into real businesses. People started showcasing their talent on social media during the pandemic and are now running full-fledged businesses collaborating with well-known brands. Thus, 2022 will observe a further rise in entrepreneurship.
- Influencer and meme marketing: Ten years ago, no one would have thought of the impact of social media in the business world. Today, influencer and meme marketing are among the most effective ways to reach out to the public. Thus, small businesses would need to collaborate with influencers and use meme content to present their products and services to the audience.
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- Phygital is the main ingredient: If you are a small business entrepreneur and believe that only your physical store can help you sustain in the market, the formula might not work for long. It has become almost imperative for businesses to have their services and products available to customers on digital and physical platforms. Thus, 2022 will observe more companies turning “Phygital”.
- Time is precious: Time efficiency is the key to grasping more share in today’s market. The world is progressing with “ten-minute” deliveries. But if a seller is delivering a product or service in four days and the other is doing it in a day, it is clear where the buyer will head.
- Transparent communication: Another aspect that will overpower in 2022 is transparent communication with the clients and customers. Today’s customers demand better communication with their service provider via messaging, calls or even video conferencing.
Small businesses faced hardships in the pandemic, and many have well-survived through it. However, the already-dynamic business world has become more fragile due to the pandemic. Additionally, with spaces like Metaverse, the digital paradigm is most likely to expand in 2022.