5 Business Predictions for 2013
Every new year brings resolutions for change and predictions of the future, so we asked a few of our student bloggers for their thoughts on what’s in store for business in 2013. Read what they had to say, and leave your own predictions in the comments.
Retailers are developing more savvy private label strategies – more attractive packaging, higher quality ingredients, offering both premium and value-driven private label lines, etc. It will be interesting to see how the relationship between retailers and national brands continues to change as private label brands grow.
2. Importance of Using and Measuring the Effects of Social Media
To engage in conversations with consumers, brands will further use social media platforms – not as a one-way tool – but as a forum to converse with, listen to and deliver news to consumers. Additionally, in trying to answer the ROI question, companies will continue to search for and develop key performance metrics for accurately measuring the success and return on investment of social media campaigns.
— Amanda Cheung ’13
Lack of investor confidence in the tech market will contribute to a weakening of high profile tech companies (e.g. Facebook, Zynga), which will cause ripple effects throughout the rest of Silicon Valley and future IPOs.
4. More Trouble for Europe
Greece will continue to experience their economic woes, and Spain will be forced to accept a bailout, leaving the future viability of the Eurozone hanging in the balance.
— Evan Fleming ’14
To deal with the expiration of temporary tax cuts, companies will offset with higher prices, spending cuts or employee reductions. Companies will ultimately be forced to be leaner and meaner for 2013, and consumers will have to accept the fact that they may have to pay more for the goods they want.
— Mitch Colgan ’14