Small Company Trends to Prepare You For 2017

EMV payments have been on everyone’s mind since regulations were released in 2015. These payments require cards be inserted to read a chip rather than swiped. In February 2016, only about 25 percent of American debit cards had these chips, but this standard will become more widespread. By the time 2017 rolls around, most individuals will view those who offer EMV payments as more concerned about protecting their information. Utilizing this technology can be used as a great marketing point.

49081214_sMobile Apps Are Bursting Through

Huge corporations have long been on the app bandwagon. Local business owners, however, have been hesitant about making the leap. Seeing that many business owners felt they had little to offer in the way of an app, this was no real shock. New studies, though, have shown that half of small businesses will have their own app by 2017. While this still does not mean an app is essential for your organization, it may be time to start brainstorming ideas.

EMV Payments are the New Standard

EMV payments have been the talk of every industry since 2015. You have likely seen this category of payments with terminals that require cards with chips to be inserted. While only 25 percent of debit cards were equipped with this chip by February 2016, this number will continue to rise. By 2017, shoppers will consider EMV the industry standard, and they will feel as if stores who don’t accept these payments are putting their financial information at risk. Implement this modification and then use it as a marketing point.

Generation Y Emerges on the Scene

For years, businesses have focused on Millennials due to the huge growth in the demographic. Those individuals, though, are not the youngest group you must cater to. Individuals in Generation Y are currently entering their 20s, so business people must begin to focus on this cohort. Not altering marketing to bring in these new consumers could hurt your small business in 2017.

Changes are never easy in the business world, but if your company has any hope of surviving, they have to take place. By keeping up with emerging trends, particularly those that will affect 2017, you can stay on the forefront of advertising.

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