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Top 5 Tips for Businesses to Thrive in 2024

Each year, the businesses that have the vision to stay ahead of trends and implement strategies that align with those trends are the ones that are best positioned for success.

There is no shortage of data and consumer trend predictions out there and while focusing on too many could be detrimental, trying to narrow which to focus on can feel daunting and downright overwhelming.  

While the amount of information out there is vast, and the economic downturn still keeps businesses on the conservative side as far as risk and innovation, we see a common thread with a few trends coming up to the surface throughout our research.  

Here are the top business trends to help your business thrive in 2024, based on a few consumer trends that seem to be coming through loud and clear, including a rising consumer demand for sustainability and personalization. 

  1. Embrace the Latest Advancements in Technology

AI and machine learning have been around for over a decade. Now, generative AI puts the power to create and intelligently automate the customer experience in the hands of almost any organization.  Having a clear and compelling generative AI strategy today is key to be an industry leader in years to come.
 

  1. Prioritize Sustainability 

If you’ve done any reading about consumer trends for 2024 you may have noticed one that continuously comes up - consumers’ sustainability demands are rising.

Sustainability has graduated from buzzword to expectation as 85% of consumers recently surveyed have shifted their purchases to become “greener” in the last five years and more than half of brands are looking to innovate their products to make them more sustainable. 

Consumers are now more seriously than ever holding brands accountable for their environmental impact and looking for genuine commitment to sustainability. 
 

  1. Create Unforgettable Customer Experiences

A timeless way to keep your brand relevant and memorable is to continuously create opportunities to offer unforgettable customer experiences.

This is a principle that stands the test of time and is always good practice for any business and companies that operate with a customer experience mindset, drive 4-8% higher revenue than others in their industry. 

Customer experiences are key to keep your business top of mind and for other tactical ways to enhance your brand, explore effective and innovative promotional strategies to ensure it remains top of mind for your customers

 

  1. Explore Incorporating Health and Wellness 

The global wellness market is estimated to reach a valuation of $6.99 trillion by 2025 and, in the US, 42% of consumers are focused on improving their wellness.

With significant consumer focus on wellness in recent years, brands that can incorporate solutions for personal growth and overall wellness will resonate loudest in 2024. 
 

  1. Embrace the Resurgence of Human Connection

As much as businesses have to keep up with technological advancements to thrive in 2024, there is a consumer trend that cannot be ignored - they still value the human connection.

In fact, 58% of US consumers believe that interacting with a real person enhances their experience.  

Brands that recognize the importance of emotional human connection and prioritize genuine human interaction will see a competitive edge. 

Further, in 2024, we will see an increase in brands investing in the soft skills of their employees including emotional intelligence, communication, problem-solving skills and thought leadership.