5 Emerging Australia Business Trends to Watch Out For in 2021
The year 2020 brought some unprecedented challenges to businesses worldwide, and Australia was no exception. However, the resilience and adaptability of the Australian business community have been remarkable. In this blog post, we’ll explore five emerging business trends that we expect to see in Australia in 2021.
1. Technology Adoption
2020 saw an unprecedented shift towards remote work, e-commerce, and digitalization. Australia is no exception to this trend. A recent survey found that 60% of Australian businesses plan to maintain remote work arrangements even after the COVID-19 pandemic is over. Similarly, businesses are investing in digital infrastructure and cloud-based services to remain competitive in a digital-first economy.
2. Sustainability and Renewable Energy
Concern for the environment has become a top priority for consumers, and businesses are starting to take notice. Australian businesses are increasingly adopting sustainable practices and investing in renewable energy sources. In the first quarter of 2020, renewable energy overtook fossil fuels as Australia’s primary source of electricity for the first time.
3. Online Learning and Development
As remote work becomes the norm, businesses are looking for ways to develop their employees’ skills remotely. Online learning platforms have become increasingly popular, providing businesses with an accessible and cost-effective way to deliver training to their employees.
4. Contactless Payment Systems
The COVID-19 pandemic accelerated the adoption of contactless payment systems in Australia, making them an essential tool for businesses. Contactless payment systems provide customers with a safe and convenient way to make transactions without the need for physical contact.
5. Personalized Customer Experience
Personalization has become a buzzword in the business world, and for good reason. Personalized customer experiences have been shown to increase customer loyalty and satisfaction. Australian businesses are increasingly investing in customer relationship management (CRM) software to improve their understanding of their customers’ needs and preferences and deliver personalized experiences accordingly.
Conclusion
2021 will be a year of many challenges and opportunities for Australian businesses. However, by keeping an eye on emerging trends and making strategic investments, businesses can remain competitive and resilient in a rapidly changing economy. In summary, we expect to see increased technology adoption, sustainability, online learning, contactless payment systems, and personalized customer experience become more prevalent in Australian businesses in 2021.
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