Top 5 Market Trends to Watch Out for in June 2022
As the world slowly recuperates from the COVID-19 pandemic, it is time to take stock of the changes expected to happen in the market in June 2022. Here are five market trends to watch out for this coming month.
1. The Rise of Digital Business Models
The pandemic accelerated the shift towards the digitization of businesses. As a result, consumers are now more comfortable shopping online. According to a report by McKinsey, e-commerce saw a 10-year growth in just three months during the pandemic.
This trend will continue in June 2022, with several physical businesses transforming to digital business models. Companies that have been resisting this change will need to adapt or risk being left behind.
2. Increased Demand for Health and Wellness Products
The pandemic has made people more conscious of their health, leading to an increase in the demand for health and wellness products. This trend is expected to continue in June 2022.
According to a study by Grand View Research, the global health and wellness market is expected to grow by a CAGR of 5.6% from 2021 to 2028. Consumers are looking for products and services that promote their physical and mental well-being.
3. Growth of the Gig Economy
The gig economy has been growing steadily over the years, with people opting for flexible jobs and the ability to work remotely. With the pandemic forcing companies to adopt remote work, this trend is expected to continue in June 2022.
According to a report by Upwork, 56.7 million Americans freelanced in 2020, and this number is expected to increase in the coming years. Companies are increasingly hiring freelancers to cut costs and increase flexibility.
4. Increased Importance of ESG Investing
Environmental, social, and governance (ESG) investing is a rapidly growing trend in the financial markets. Investors are looking for companies that take sustainability seriously and have a positive impact on society and the environment.
According to a report by Morningstar, ESG funds saw record inflows of $185.3 billion in 2020, and this trend is expected to continue in June 2022. Companies that prioritize ESG issues are likely to attract more investors.
5. The Emergence of New Technologies
There is a constant stream of new technologies entering the market, and June 2022 will be no different. Several emerging technologies are expected to make a big impact on the market in the coming month.
According to a report by Gartner, hyperautomation, blockchain, and AI engineering are some of the top strategic technology trends for 2022. Companies that leverage these technologies will be able to increase efficiency and gain a competitive advantage.
Conclusion
As we head into June 2022, businesses need to keep an eye on these market trends to stay ahead of the competition. The rise of digital business models, increased demand for health and wellness products, growth of the gig economy, increased importance of ESG investing, and the emergence of new technologies are expected to shape the market in the coming month. Companies that adapt quickly to these changes will be those that succeed in the long run.
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