By: admin | Read Time: 84 seconds
4 Reasons Why Your Category Will Become More Competitive
Small business categories will become more competitive in 2025 onwards due to four key reasons:
1. Digital transformation
Businesses are rapidly adopting digital tools and platforms, including AI and machine learning, to enhance their online presence and customer engagement strategies1. This widespread adoption of technology will intensify competition as more businesses leverage these tools to reach and serve customers effectively.
2. Changing consumer behavior
Customers now expect convenience, fast delivery, and seamless online shopping experiences2. Small businesses will need to adapt quickly to meet these evolving preferences, leading to increased competition in providing superior customer experiences and personalized services.
3. Economic uncertainty
With 48% of small businesses anticipating economic challenges in 2025, companies will be forced to innovate and optimize their operations to remain competitive8. This pressure will likely result in more businesses vying for market share and customer attention.
4. Increased entrepreneurship
New business applications are up 50% compared to 2019, indicating a surge in entrepreneurial activity7. This influx of new businesses will naturally lead to more competition across various small business categories.
