As business owners, consultants and investors plan for the future growth, it is critical to say that they consider the external forces that will affect the demand at large. We are here to acknowledge the evolving trends for the year 2019. In this article we will be discussing social, technological, ecological, political and economical trends that will impact the business in this year and beyond;
Check out the list below;
Economists are predicting a softening of the U.S. Economy
The Congressional Budget Office predicts the real GDP growth will slow down to 2.4% in 2019, down from 3.1% in 2018. A slowing down economy indicates that you can expect companies to invest less in heavy equipment and various other fixed expenses.
U.S.-China Relations Remain Tenuous
U.S. under the Trump administration has demonstrated a format of making the dramatic announcements in order to develop a basis for negotiations. Renewed fears about the tariff negotiations were the one to drive the recent market volatility. The world is eagerly watching to know whether or not the trade war truce is legitimate or if the tariffs represent the long term trading policy of the U.S.
Chatbots will be the new customer service support
Gartner Research states that the use of Chatbots customer service by the end of this year will have been increased to a massive number. ChatBots customer service are expected to reduce the customer inquiries by up to 70%. This will lead to the abandonment of the mobile apps by the major brands.
Greater Awareness of Equality as a Business issue
With over 100 women winning congressional seats back in the year 2018 midterms. Companies are now re-evaluating their gender based equality policies and are seeking out for more number of female independent directors.
Businesses will continue to bare the pain of full employment and higher labor costs
With the 4% unemployment hovering around, companies like Amazon have announced higher wages to keep pace with the escalating minimum wage rates. Several cities including Burlington, Iowa City and the Boulder have a very low employment rate which is below 3% and the companies are desperately to hire people at an level of skill.
Europe is in Shambles
With number of leaders including Germany’s Counselor Merkel and Britain’s May losing favour, joined hands with Italy’s budgeting crisis and Brexit, Europe’s political core is unraveling. Britain’s Financial system has also been a credibility hub of commerce and Brexit is frightened to trigger the instability.
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