After passing through a pandemic, technology and sustainability tend to be replaced. People got used to working and studying while working from home, which is why technology has played an important role in the 2000s. People are living different lives than before. Many scientists and doctors mentioned that in 2022, the pandemic was forecasted to be an endemic disease. Here are the 10 mega trends for 2022.
1. Green innovation and nature-based solutions: Technology investment in green innovation and clean energy be able to adapt in the supply chain, such as increasing alternative energy portions in order to reduce emissions of greenhouse gasses, changing operation strategies in both manufacturing and service sectors, including whatever caused negative impacts in the supply chain, and increasing environmental awareness.
2. Hybrid Working: Owing to the over 2 year isolation of people, 91% of employees require “hybrid working”, which before was only 9%. Hybrid working procedures are being converted into the new normal in society. The Cisco Global Workforce Survey found that businesses have been facing the challenges of a modern workforce looking for “flexibility” and “remote working” opportunities that don’t require them to go to the office every day.
3. Crypto payment: During the pandemic, people started using online payments, which many platforms accepted, and crypto payments were created. A few years ago, cryptocurrency was used worldwide, which is not only used for investment purposes but also used for savings, spending, and so on. And because of this event, online payment tends to be started in order to reduce exposure together with asset security nowadays. There is a good chance that crypto payments will become another payment platform and will be heavily influenced by global financial events.
4. Hyper Personalization: One-size-fits-all is the old fashion way of doing things, which is not enough to meet the customer’s needs. Businesses must adapt to what customers need and even before customer desires are met. For a case-study example of an insurance business, they use a device called Telematics in order to follow their behavior by stepping on the brake pedal, including detecting start-to-stop engines and then analyzing together with evaluating whether they have more or less risk of accident. So, they could offer a 40% lower insurance premium compared to normal insurance. Their business research found that customers who offer products that meet the needs of customers have more opportunity for business growth than competitors in the same industry.
5. Metaverse: Building virtual world by cultural dissociation, it is likely to be the next frontier by fusing layers of platform interfaces of information, where the areas where people do communicate or interact with each other are turned into areas where they can make money, create new jobs, and also create new opportunities for branding. This new frontier only uses screens and earphones yet turns out to be experiences and places connected to the digital world.
6. Fast fashion: It refers to fashion trends that come and go quickly. This trend created more cloth garbage and raised people’s awareness of unfair labor practices. On the other hand, in 2022, there tends to be more and more fast fashion trends, which are called “ultra-fast fashion.” The beginning of fast fashion came from the online business growth in which all supply chains processed orders in only 1-2 weeks, whereas the well-known international brands, such as Zara or H & M, took 6 weeks to 6 months on average.
7. Gamefi: DappRadar reported the research about 50% of wallet crypto was binded with gaming platforms, Whereas, DeFi was decreased to 45%. It is predicted that it will be more intensive in 2022, especially, the group of Play-to-Earn or Pay-to-Play. The evaluation found that the spectacle was caused by a bunch of people originally interested in cryptocurrency, who are gamers and interested in innovation. However, this fascination, together with enjoyment, magnetizes Gamefi to be a more and more interesting field to invest in. Meanwhile, there are 80-100 million transactions processed each day.
8. The Cognification of Products and Services: Nowadays, there is not only a smartphone that is an intelligent device innovated for people to have an easier life, but also smart everything from Smart TV to Smart Home. People are surrounded by AI and IoT connected wireless worlds and smart devices, which have a potential role in the innovative world.
9. From B2C to “All to All” (C2C): From Business-to-Customer (B2C) to Customer-to-Customer (C2C), The connection between customers and customers connected for communication along with selling products and services created many platform businesses, e.g. Uber, Facebook, and Etsy, which are easy and safe for doing business through this platform.
10. Orientation east: Another megatrend for 2022 is the eastern orientation of the global economy. Asia, primarily China, will come even more into focus. In the coming years, enormous economic growth is forecast for China, India, and the Middle East. Consequently, there will be an increase in global trade, and likewise, the purchasing power of the global middle class will rise. This development has been influenced, among other things, by the shift in education funding. Originally, Japan, the UK, Germany, and the US were the leading promoters of education and research. In the future, China will overtake the largest funders.
For this article, our professional analytic team mentioned the changing ways of living, working, saving, and spending money together with technological advancements. Not only are people living differently than in the past few years, but it also changes customer behavior, which is impacted by digital technology. This article might be applicable to businesses that will be direct to the point at which they meet the customer’s needs.
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By Ashley Jones