Where are we going?
What is the strategic landscape?
What is happening, and how do we get ahead of the curve now?
These are the typical words from business leadership, owners and board directors across industries as they prepare to sign off on the next financial year’s budgets.
The big picture –
1) historically, after every pandemic, there has been chaos, debt and deficits, a rise of the middle class, and a decade of people figuring out what is essential to them. Add to this inflation, rising interest rates, supply chain woes and global conflict.
2) changing in the world order – the U.S. and its allies haven’t won a war – since the second world war. China’s military and economic growth will pass the U.S., which increases the risk of chaos and conflict with China.
3) Intergenerational chaos, the boomers did well, but millennials and those that follow are not; expect significant change as millennials enter Parliament and gain control.
4) A.I. is getting more intelligent; the future of work, climate emergency, driverless cars, gyrocopters for people and how we educate, think, act and communicate will be challenging,
Setting your business course amid these storms is essential for future growth.
Businesses that maintain breakneck growth at scale are massively challenging.
This year’s Marketplace 100 – has just been released. The report provides insights into which businesses and sectors outperform in a post covid shutdown world.
After three years of extreme economic volatility, the data revealed some valuable insights.
Temu, launched in September 2022, quickly became one of the top-down loaded apps across the Apple App and Google Play Stores—a new kind of AI-powered gamified social commerce experience for the U.S. market. Consumers gain personalised discounted item recommendations from thousands of merchants and credits for checking in more often and referring friends.
Some of the other fastest-growing businesses this year insights:
- Peek.com (#14) helps locals and travellers find top-rated adventures near them and provides software for experienced providers to manage their businesses. Sell more experiences. Spend less time doing – their software will process payments, market your business, report analytics, and manage customer reviews – they have powered over $1 billion in experiences from thousands of businesses.
- Whatnot’s jumped from #99 to #9 in the last three years. Few businesses grow this fast—a Live Shopping & Marketplace Where you can Buy, sell & discover products. We highlighted this business last year as one to watch. It brings together critical forces – local communities and like-minded people who share a love for particular products – in real-time.
- Sawyer, the kids’ activities marketplace is now at (#39); for families, they discover kids’ classes, camps, and events nearby matched with For educators – Run and grow your children’s activity business online,
- TodayTix, a same-day theatre ticket provider now spreading across the western world. (#54) From discount Broadway tickets for tonight to front-row availability at shows next month and beyond, get tickets to the best New York theatres and others.
- Headway (#56), the US-based – Let us find your mental health provider, is growing fast; they help you find the right fit — covered by your U.S. insurance.
- ShopShops designer deals app -named the Best Livestream Shopping App of the Year by Retail Boss for 2022. It eliminates the guesswork of online shopping and instantly connects shoppers with new, discounted, pre-loved and pre-owned designer items. Instantly shoppable video streams.
Consumers are seeking out personalised and entertaining shopping experiences.
The 2023 Marketplace 100 features thirty-plus newcomers from vacation villas and used car parts.
The fastest-growing category isn’t pets, concerts, or even food. It’s mental health.
Headway (#56) and Sondermind (#80), Alma (#82), Path Mental Health (#90) and others, including BetterHelp and Talkspace, make up the growth of this crucial sector in 2022-23.
Perhaps, as a result,
- Concerts and live events are soaring: Ticketing businesses are outperforming their 2022 numbers.
Wherever you look, there are exciting opportunities for new growth.
What are your business’s 2023 challenges and forward-looking accelerating growth opportunities today?
Regards
David
