Top 5 Business Trends in Makati to Watch Out for in 2021
Makati, a bustling city in the Philippines, is known for its towering skyscrapers, world-class shopping malls, cosmopolitan lifestyle, and a booming business district. As Philippines’ financial capital and home to many multinational companies, Makati has always been a hub for entrepreneurship and innovation.
As we enter the post-pandemic era, new business trends are emerging, reshaping Makati’s landscape. Here are the top 5 business trends to watch out for in Makati in 2021.
1. Work-from-home Transformation
The pandemic has pushed companies to adapt quickly to remote working, prompting a great shift towards hybrid or fully remote work arrangements. Makati-based businesses have had to embrace digital tools and platforms to enable employees to work from home effectively. As a result, flexible workspaces have emerged, such as coworking spaces, that offer a blend of office amenities and the flexibility of remote work. This trend is expected to continue as companies become more agile and explore new ways of working.
2. Digital Transformation
The pandemic has also accelerated digital adoption, transforming how businesses operate and interact with customers. This trend is not just confined to e-commerce but also extends to digital marketing, social media, and customer service. Companies are looking to use technology to cut costs, improve productivity, and enhance the customer experience. Makati businesses are leveraging digital transformation to stay competitive and meet the demands of the new normal.
3. Sustainability and ESG Investing
Sustainability has become a key priority for many businesses, which is why the trend towards environmentally and socially responsible practices is on the rise. ESG (Environmental, Social, and Governance) investing has gained momentum, with investors increasingly looking for companies that are not just profitable, but also ethical and responsible. Makati businesses are no exception, as they are looking to align their practices with sustainability goals and attract socially conscious investors.
4. Rise of Online Marketplaces
Online marketplaces are on a steep rise globally and in Makati, especially since the pandemic. These platforms allow businesses to reach a broader customer base and offer a more convenient way to shop online. With the growing demand for digital goods and services, online marketplaces have become a vital channel for businesses in Makati to stay competitive and expand their reach.
5. Health and Wellness
The pandemic has highlighted the importance of health and wellness, and this trend is gaining momentum in Makati. From healthy eating to fitness, businesses are investing in wellness initiatives to cater to the growing demand for healthier lifestyles among their customers. Gyms, healthy food establishments, and other wellness-related businesses are flourishing in Makati, offering a range of health and wellness services to meet the diverse needs of customers.
Conclusion
Makati’s dynamic business landscape is rapidly evolving, with new trends emerging and reshaping the city’s economic landscape. The rise of remote work, digital transformation, sustainability, online marketplaces, and health and wellness are some of the top trends to watch out for in Makati in 2021. Businesses that embrace these trends and explore new ways of working and engaging with customers are well-positioned to stay competitive and thrive in the post-pandemic era.
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