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5 Crazy Facts About Business in 2018

 

There’s no denying that the business world is absolutely booming. There’s so much going on and so many new developments that it can be hard to keep up. To stay competitive in their particular industries, many organizations are bringing in business consulting firms to give them much-needed guidance and direction in making big moves and securing a bright future. With this in mind, let’s take a look at five must-know facts from 2018 as the business world transitions to the new year.

Mobile First

The majority of Americans own a cell phone, among many other electronics. The digital age has completely changed the course of business forever, particularly the way people shop and consume information. Business consulting firms can help companies make smarter decisions for long-term growth surrounding how they make the most of digital opportunities. One primary example is online shopping. Back in 2012, approximately 11% of retail sales happened on cell phones or tablets. Now, that figure is much closer to 50%, showing just how fast people’s habits can change.

Work Style

Another interesting fact about business in today’s day and age is that U.S. employees at companies with 1000 or more employees often spend over half their time away from actual work-related tasks. On average, those at large companies spend 45 percent of their work schedule on job duties, with the rest of their time going to meetings, administrative functions and other interruptions. Business consulting firms can help others understand how to capitalise on available work time and make the most of it!

Black Friday

For many, it’s hard to imagine November in the U.S. without Black Friday. The retail holiday of sorts is known for massive sales numbers, and 2018 did not disappointing. In fact, shopping results provided by First Data’s Holiday Insights Dashboard show a 6.1% rise in overall sales from last year, while there’s been a 5.3% growth for small businesses over the same time.

Ecommerce

It’s also essential to understand just how big of a role online shopping plays in the future for businesses everywhere. Thinking about retail giants like Amazon and Wal-Mart, and it’s easy to see why. In fact, Amazon accounted for 44% of ecommerce sales in America over the past year, and they are projected to continue rising in the future.

Shopping Trends

Last but certainly not least, it’s necessary to understanding where and how people are shopping these days. Recent data shows that Americans spend 64% of their shopping budget in brick and mortar stores, while 36% do the same online. Many online shoppers even have a few commands and desires such as same-day shipping. With a constant flurry of activity in the business world, there’s never been a better time to jump on these trends and contact professional business consulting firms.

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