TOP 5 EMERGING TRENDS SET TO RESHAPE BUSINESSES IN KENYA

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 Business Trends.




We are currently going through one of the most significant historical changes ever experienced in the last 100 years. Old businesses will change and new businesses will emerge. 

Covid-19 has completely flipped the script for businesses in Africa and across the globe. There has therefore never been a better or more important time for business in Kenya to consider pivoting their model, offerings or services to suit the changing shifts in consumer behavior. 

Below is a list of emerging trends in business that are to be watched in decades to come.

#1. Remote working

Remote working some years back could sound like something impossible to implement. Remote working has been growing as a trend for sometime but the Covid-19 pandemic has proven to employers of desk-based workers that working from home or anywhere can be done. It may even make people more efficient and productive. The realization has been so profound that many firms, both large and small, might be getting rid of their offices completely. In addition, with the popularity of online shopping, the prevalence of social media use, the implementation of 4G and possibly 5G networks and the increasingly sophisticated computers available on the market, it seems that having a commercial space is no longer a requirement for building a thriving company. Businesses can easily facilitate transactions from the comfort of their own home or virtually anywhere in the world.

#2. Acceleration of digital transformation

The notion of digital transformation is now fairly advanced with many organizations working on transforming businesses over the last two years, if not more. Covid-19 will force companies to take radical steps to adopt technology advancements, and modernize culture, organizational structures, measurement systems and operating architectures. There is common agreement among top business leaders that even if the organization is ahead today, they have to be continually prepared to change, take calculated risks and be prepared to fail fast, or their business is likely to get disrupted. Therefore, accelerating digital transformation journeys would become a top priority for many companies to ensure business continuity, improve productivity and launch new business models to remain competitive.

#3. Advances in Artificial Intelligence(AI)

AI is already being used to increase efficiency, improve productivity and better performance in manufacturing, technology, healthcare and other industries. A research conducted found that 85% of executives believe AI will help their businesses obtain or sustain competitive advantage. 

#4. Switch to cashless payments



Most businesses are already on their way to becoming cashless through mobile money. The pandemic and social distancing have led to an even more widespread adoption of cashless payments. When the pandemic began, cash had already been on the decline in some countries. Wariness of microbe-ridden banknotes has seen contactless payment become a spontaneous public health standard.

#5. The use of an on-demand workforce will increase

With the economic impact of covid-19, companies and people will embrace technology enabled on demand workforce models and platforms. This would improve workforce planning, financial management and access to diverse skills. Companies should understand and learn how to engage and retain on-demand talent with improved people management programs, strategies and tools to make value for and on-demand workforce.



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Written by: Antony Moturi


DJ | Social Media Specialist | Online Marketer | Content Creator | Sound Engineer

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