Predictions for 2018

January 23, 2018

Business Trends

I started Purpose Greater Than Profit because I am inspired by companies that believe it’s possible to both make money and change the world. As I’ve had the opportunity to delve deeper into brand purpose, social enterprise and purpose-led leadership, I’ve noticed a few trends shaping the business landscape in 2018 and beyond.

Offline is the new luxury.

We live very digitally connected lives. It’s common to spend most of our awake hours moving among digital platforms. As a result, offline experiences are diminishing. This vacuum has created a new demand to pay for a uniquely curated offline experience. Read more about the growing luxury of offline here.

Circular Economy

The principles of a Circular Economy are driving innovation. Companies, like TrioCupLolistraw and Halo Coffee, are pushing aside the traditional linear (make, use, dispose) model of business in favor of a new “made to be made again” model. Encouragingly, the Circular Economy is not limited to start ups. Many global companies are also exploring new ways to contribute to a restorative economy. Learn more from The Ellen Macathur Foundation (@circulareconomy).

Data Wisdom

This quote has stuck with me for a while. “We’re drowning in data, but starved for wisdom.” A recent IBM study suggested there will be a 28% increase in data analytics jobs by 2020 and that every business must be considering how they use, interpret and adjust to analytics.” We are gaining greater economic, social and environmental insights through data. However, businesses must be equally committed to responsibly collecting, using, sharing and adjusting to the findings.

The Love Economy

The Love Economy is more than social enterprise or conscious capitalism. It extends into self-care, acceptance, collaboration, equality, service. Basically, doing the right thing because it’s the right thing. Some people may be quick to dismiss this movement. However, I believe it could become one of our greatest sources of disruption. Learn more by listening to Greg Hemmings’ TEDTalk, Building the Love Economy.

What trends are you seeing? How do you think they will shape business in 2018?

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About

Karen-Bailey

Karen Bailey is a brand purpose consultant and specializes in helping companies define their purpose and align their business around it. In 2017, she launched the blog, Purpose Greater Than Profit, to start a meaningful conversation about the increasingly important role of brand purpose, purposeful leadership and a better way of doing business.

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