Research Summary: Keeping up with business trends can often feel like a neverending game of catch-up, especially for small business owners. However, your business will be far more successful if you can stay on top of the latest trends.
To do so, we’ve gathered an extensive list of business trend statistics. According to our extensive research:
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Between 4-5 million new businesses are projected to start in 2023.
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46% of US workers plan to change jobs in 2023.
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97% of workers desire some form of remote working, with 82% wanting to continue working remotely for at least one day per week.
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Global e-commerce sales are projected to reach $6.3 trillion in 2023.
For further analysis, we broke down the data in the following ways:
Social Media Advertising | eCommerce | Remote Work | Worker | Sustainability | Technology | 5G
Social Media Advertising Trends
Social media plays a key role in the success of most businesses in 2023. Here are some essential facts about social media marketing and advertising trends:
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Social media ad spend is projected to increase by 5.2% in 2023.
This is actually a decrease when compared to other reasons in the previous years, as social media ad spending was up 11.5% in 2022.
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Search growth for “influencer marketing” has increased by 191% over the past five years.
One of the most popular methods of marketing on social media is getting influencers to take sponsorships. This win-win relationship between businesses and influencers has seen a massive uptick since 2017.
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The social commerce market is expected to reach $79.64 billion by 2025.
As of 2022, the US social commerce market is worth $45.74 billion, a number which is projected to grow between 18-25% per year through 2025.
Social Commerce Sales Growth Over Time
Year Social commerce sales Percentage increase 2019 $19.42B 25.2% 2020 $26.97 38.9% 2021 $36.62 35.8% 2022 $45.74 24.9% 2023 $56.17 22.8% 2024 $67.32 19.9% 2025 $79.64 18.3% -
29% of marketers plan to invest in Instagram the most in 2023.
Instagram is the most popular social media site for investment in 2023, followed by Facebook (23%), YouTube (14%), and TikTok (14%).
Top Social Media Platforms Marketers Intend To Invest In (2023)
Social media site Share of marketers who intend to invest the most Instagram 29% Facebook 23% YouTube 14% TikTok 14% LinkedIn 7% Twitter 5%
eCommerce Trends
E-commerce drives businesses, especially since the shift to remote work in 2020. Here are some of the latest e-commerce trends to watch:
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eCommerce sales are projected to reach $1.4 trillion by 2025.
In 2022, e-commerce sales reached $907.9 billion. Massive growth was spurred on by the 2020 COVID-19 pandemic and isn’t slowing down. The projected growth of 50% could result in sales reaching just below $1.5 trillion in less than five years.
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eCommerce is projected to be 22.3% of global retail sales in 2023.
While this is down from over 50% in 2020 (caused by the pandemic), it’s still more than double that of 2019, when e-commerce sales reached 10% of all retail sales for the first time.
Remote Work Trends
Due to COVID-19, remote work exploded in 2020. As workers became accustomed to working from home, they also decided they didn’t want to lose the benefits of not going into the office. To find out more about the current state of remote work and where it’s headed in the future, here are some key statistics:
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Searches for remote work jobs increased by 460% between 2019-2021.
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The hybrid work model is expected to grow from 42% in 2021 to 81% by 2024.
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57% of workers would leave their current jobs if their company decides not to offer a remote work option.
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72% of remote workers want to keep working remotely at least two times per week, while 82% want to keep working remotely at least once per week.
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71% of US workers intend to freelance in 2023.
Worker Trends
In many ways, the Great Resignation is still ongoing. Many workers aren’t hesitating to leave their jobs, or at least to search for alternative options. For example, consider these statistics:
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61% of workers have considered leaving their jobs in 2023.
While approximately 46% intend to change their career within the first six months of 2023. That’s a pretty sizeable shift in employees from one job to another.
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During the Pandemic, 30% of those between 18-39 considered a career change.
Generally speaking, younger demographics are more likely to change careers than older ones, as 21% of workers between 40-49 considered a career change, and only 12% of people aged 50 or older considered it.
US Workers Who Want to Change Careers By Age
Age Share of workers who considered changing careers 18-39 30% 40-49 21% 50+ 12% -
Nurse Practitioner is the fastest growing US job in 2023, growing at a rate of 46%.
Between 2021-2031, this career is expected to grow by 46%, showing a clear recovery from the exodus of nurses in 2020. To find out what other jobs are growing quickly, here are the top 8:
Fastest Growing Jobs in 2023
Job Growth rate from 2021-2031 Nurse Practitioner 46% Wind Turbine Service Technician 44% Data Scientist 36% Information Security Analyst 35% Web Developer 30% Medical and Health Services Manager 28% Physician Assistant 28% Solar Photovoltaic Installer 27%
Sustainability Trends
From concerns about the global climate to the fear of supply chain disruption, more and more businesses are concerning themselves with sustainability. Here are some examples of how sustainability affects businesses and the market in 2023:
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87% of businesses plan to increase sustainability investment over the next two years.
Customers care about sustainability more than ever, with 66% now saying it’s one of the top factors they consider before making a purchase. This is why so many companies are planning to invest.
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Green jobs are currently growing the fastest in the Energy & Mining Industry.
A growth rate of around 7% places the Energy & Mining industry at the top of the list regarding job growth. However, the industries with the greenest jobs include the manufacturing and healthcare industries, where over 8% of all workers have green jobs.
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43% of companies will be investing in supply chain security in 2023.
While another 39% intend to invest in new supply chain technology and maintenance. This is welcome news, seeing how badly the global supply chain was impacted in 2020.
Technology Trends
New technologies drive innovation, and innovation drives successful businesses. To find out more about the latest technology trends affecting businesses, here are some key statistics:
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The AR/VR Market is projected to grow by 13.72% between 2023-2027.
The market has an estimated worth of $31.12 billion in 2023, which is expected to reach $52.05 billion by 2027.
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42% of companies are exploring AI implementation in 2023.
35% of companies already use AI, and many more plan to follow. In total, 63% of companies intend to increase or maintain AI spending this year.
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The Technology and Communications industry has the fastest AI adoption rate, at 32%.
Many industries are adopting AI, but some are certainly adopting it faster than others. Others among the top three include the Automotive and Assembly industry (29%) and the Financial Services industry (28%).
Industries With the Highest AI Adoption Rate
Industry AI adoption rate Technology and communications 32% Automotive and assembly 29% Financial services 28% Energy and resources 27% Media and entertainment 22% Transportation and logistics 21% Consumer packaged goods 20% Retail 19% Healthcare 17% Education 17% -
Between 2015-2020, companies that monitor their employees increased by over 166%.
The COVID-19 pandemic hugely impacted how common employee monitoring has become. It’s estimated that only 30% of companies monitored employees in 2015, compared to 80% in 2020.
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74% of companies are prioritizing digital transformation in 2023.
This is up from 56% in 2021, indicating that digital transformation is becoming important to companies at an incredibly fast rate.
5G Trends
5G technology affects more than just your smartphone, and there are many businesses that can benefit from it. Here are the latest 5G trends:
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The 5G market is projected to have a CAGR of 59.4% through 2030.
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The 5G market is estimated to be worth $2.208 billion by 2030.
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China has the most 5G in the world, with 961,000 5G base stations and 365 5G terminal connections.
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Others among the top 5G countries include: South Korea, The United States, Spain, and The United Kingdom.
Business Trends FAQ
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What are the biggest trends in small business?
From inflation and supply chain issues to an increased interest in sustainability, there are several big trends affecting small businesses. Here are some of the biggest trends in more detail:
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Inflation. Prices have increased by around 8%, which is the highest increase in nearly four decades. This results in increased spending for businesses and consumers.
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Supply Chain Disruption. COVID-19 hit supply chains hard and is still affecting them on a deep level in countries like China. This can increase wait times and the price of ingredients or goods for businesses.
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Customer experience expectations. More than ever, customers are expecting a seamless CX from companies. This includes conveniences like online shopping, home delivery, and curbside pickup.
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Sustainability. 66% of customers now say sustainability is a factor they consider before making a purchase. Additionally, many companies are now becoming aware of how certain types of production can negatively impact the environment.
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Multiple payment options. Paying with cash is becoming less and less common, making it important for businesses to offer mobile, card, contactless and alternative payments more often.
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HR Compliance. Many states are passing more regulations on businesses, making it highly important to research the laws of your location and comply with them.
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Resignation. Employees are leaving their current positions in search of better work in mass, making it vital for all businesses to offer competitive and enticing positions.
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What is the most in-demand business in 2023?
Digital businesses are the most in-demand in 2023. This includes offering services like digital marketing, digital products, online courses, and more. To discover potential business ideas that could be successful in 2023, here is an extensive list:
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Dropshipping business
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Print-on-demand t-shirts
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Print-on-demand posters, greeting cards, and prints
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Audiobooks
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Online fashion boutique
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Handcrafted and homemade goods
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Virtual event planner
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App development
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Social media management consultant
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Phone accessories
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How do I learn about trends in business?
The best way to learn about business trends is through research. Reading articles like this one can be a simple way of keeping up with trends, but for more detailed information pertaining to your particular business, consider the following methods:
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Use of digital tools and analytics
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Survey and take feedback from your customers
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Develop methods of customer segmentation
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Purchase a situation analysis
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Perform direct and indirect competition analyses
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Read the latest industry research and trends reports
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Analzye complementary products and services
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Research trends in other industries
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Do a foreign markets analysis
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Research environmental and sustainability factors
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Why are trends important in business?
Trends in customers, sales, and competition are especially important in business. Analyzing customer and sales trends is important because they will tell you what to make and when, while analyzing competition can give you insights into pricing, trends, and more.
In general, any major trends you come across in the business sphere can be important to you and your business if you think critically about how those trends affect you.
Conclusion
The business landscape in the US and around the world is always changing. Today, innovations like AI and VR affect the market in profound ways, while lingering supply chain disruptions and inflation also impose their will on businesses.
Overall, it seems that recovering from the effects of the pandemic, as well as investing in new technologies that will improve productivity and sustainability, is the way forward for businesses in 2023.
References
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Entrepreneur – Nearly 50% of Workers Plan to Quit Their Jobs in 2023, According to a New Report
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MarketingProfs – Global Ad Spend Forecast for 2023: A Slowdown Ahead
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Shopify – Global Ecommerce Explained: Stats and Trends to Watch
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Forbes – The 2022 Status Of Remote Work And Top Future Predictions
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Zippia – 21 Crucial Career Change Statistics [2023]: How Often Do People Change Jobs?
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WEF – These are the sectors where green jobs are growing in demand
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Capgemini – Where Are Organizations Investing in 2023? Supply Chains and Tech Are Top of the List
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Priceonmics – Which Industries Are Investing in Artificial Intelligence?
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Grand View Research – 5G Services Market Size, Share & Trends Analysis Report By Communication Type
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Mobile – Top 10 countries with the most extensive 5G in 2022
- The Future Of Work
Author
Jack Flynn
Jack Flynn is a writer for Zippia. In his professional career he’s written over 100 research papers, articles and blog posts. Some of his most popular published works include his writing about economic terms and research into job classifications. Jack received his BS from Hampshire College.
