Twenty Trends to Anticipate in 2020
By Megan Morrow
Published January 7, 2020
What will the next year bring? What will phase in and what fill fade out in 2020?
According to prognosticators across industries, the following twenty trends will top the charts in the upcoming year:
- The workforce will become more global: More people of all ages will move and migrate in search of new experiences and cultures.
- Mobile apps will continue to redefine industries: Apps will continue to provide convenience, customization and customer service across industries.
- “Enough-ism:” As opposed to consumerism, the concept of enough-ism insists that we already have enough and may need fewer things, less time at work and reduced expectations in order to enjoy a more satisfied and fulfilled life.
- More robots and artificial intelligence: Companies will seek to save more money by using more predictive technology to meet their customers’ evolving needs.
- Patience is no longer a virtue. As Amazon reduces its shipping time to near-instantaneous, customers are demanding fast service and faster delivery. More companies will find a way to meet this interest for consumers who want something “right now!”
- Businesses prioritize worker happiness. Companies are increasingly recognizing that happy employees are productive, long-term employees and are therefore, investing in programs and incentives to this end.
- Cloud health: As people seek to prevent chronic disease, personal mobile tools (housed within the Cloud), can deliver customized fitness and diet solutions designed for prevention and healing.
- Crowdfunding will get even more crowded. Crowdfunding platforms continue to explode as a means of funding new enterprises, supporting individuals in need and creating new partnerships. Expect even more crowding in the year to come.
- Cybersecurity will be a threat and a focus: Cyber-threats across industries continue to plague companies and their customers, who need their information to be safe and secure. Companies must continually update software and security planning efforts to prevent ongoing threats to cybersecurity.
- Menus meet health needs. Diners are in search of food that offers natural enhancement and health. More healthy substitutes and plant-based foods will make their mark, and restaurants and grocery stores will continue to serve customers interested in Paleo, keto, gluten-free and other specific diet trends.
- Recommendations are required. User reviews and recommendations from friends will be king in the year to come. Many consumers will not buy anything without first finding the right reviews.
- 5G is a high five. Changing how we interact online, 5G offers incredibly fast download speed and will expand to drones, smart vehicles and other applications.
- Mindfulness matters. To combat the stress of a busy life, meditation, yoga and other forms of mindfulness will continue to inspire people to slow down, breathe deeply and let go.
- Baby Boomers will retire while Millennials move into management. These generational trends will change the face and shape of the workforce for the future.
- Home design will be neutral and blue. A deep shade of blue and neutrals, as well as geometric patterns and the natural world, will inspire home design in 2020.
- The gig economy will grow. Workers love flexibility and the ability to freelance, further enhancing this already growing trend.
- Consumers become partners in their own health care. Rather than simply watching and absorbing, patients will become more active and aware in their overall health care.
- Voice is everywhere. Alexa, Google Assistant and their cousins become even smarter and more connected in homes, offices and on the go.
- Politics… You probably do not need an expert to tell you that the political scene in 2020 is expected to be contentious, engaging and memorable.
- Retirement planning is more important than ever. As legislation and individual needs evolve, it is critical to pay attention to your retirement plans. Naturally, the start of a new year is a great chance to connect with your advisor to discuss your plans going forward.
What are you looking forward to in 2020? Doubtless, you will enjoy trends and experiences for you own top-twenty list.
Contact an Advisor
Should you have any questions about this subject matter, contact your financial advisor to help navigate any challenges you may have.
We want to hear from you
Do you have a topic suggestion for an article in a future issue of Sims Insights newsletter? We would love to hear from you. Share your ideas here.
The material presented here is for information purposes only and is not to be considered an offer to buy or sell any security. This report was prepared from sources believed to be reliable but it is not guaranteed as to accuracy and it is not a complete summary of statement of all available data. Information and opinions are current up to the date of publication and are subject to change without notice. The purchase and sale of securities should be conducted on an individual basis considering the risk tolerance and investment objective of each investor and with the advice and counsel of a professional advisor. The opinions expressed by Ms. Morrow are strictly her own and do not necessarily reflect those of Herbert J. Sims & Co., Inc. or their affiliates. This is not a solicitation to buy or an offer to sell any particular investment. All investment involves risk and may result in a loss of principal. Investors should carefully consider their own circumstances before making any investment decision.