Each This fall, Forrester releases our predictions for the yr forward. We share our perspective on what shoppers can anticipate and the way they will reply to dynamics impacting every thing from advertising technique to the adoption of rising applied sciences. However simply how correct are our predictions?
As we put together to kick off Predictions 2022 on Tuesday, October 26, we reviewed our predictions for 2021. The punchline: We received it principally proper. And we missed a number of, too. Right here’s a take a look at the largest hits and misses from our predictions for 2021.
The prediction: Physical events will reemerge with a new digital dimension.
The truth: Hybrid occasions — the place attendees can select between bodily and digital choices — grew to become widespread in mid-2021 as lockdowns eased. Though the Delta variant has precipitated one other wave of in-person B2B advertising occasion cancellations, the hybrid mannequin was profitable for a lot of corporations and more likely to reemerge as public well being circumstances enable.
The prediction: Spend on loyalty and retention marketing will increase by 30%.
The truth: We precisely predicted that manufacturers would spend money on dynamic, revenue-driving loyalty applications after seeing the successes of loyalty-focused direct-to-consumer corporations equivalent to Brooklinen. Plus, Google’s data deprecation plan has entrepreneurs searching for new methods to gather client knowledge — and loyalty applications are a treasure trove of zero-party data.
The truth: White-collar staff have embraced anywhere-work due to life-style benefits (e.g., no commute) and chronic contagion fears. Worker expertise leaders like Google have dedicated to the hybrid workweek. (Forrester can also be shifting to a hybrid workweek.)
Firms which have pushed staff to return to the workplace full-time – whether or not resulting from technical points, tradition issues, or different components — have discovered themselves on the receiving finish of “the great resignation.” A good job market means workers gained’t stick round if wrangled into an undesirable state of affairs, with 40% of 1 survey’s respondents saying they’ll quit if forced to go back to the office full-time.
The prediction: [Consumers will] invest in expanding and fortifying their homes.
The truth: Housing costs hit file ranges in Asia, North America, and far of Europe as shoppers sought extra space throughout prolonged lockdowns and as distant work grew to become the norm. Many shoppers who stayed put took on renovation tasks. European dwelling enchancment big Kingfisher — proprietor of B&Q and Brico Dépôt, amongst different manufacturers — noticed a whopping 61% improve in Q1 gross sales yr over yr. Within the US, DIY retailer The Dwelling Depot noticed Q2 gross sales develop a formidable 8.1% yr over yr.
The truth: Though the commercial drone market grew 20.1% in 2021, the COVID-19 pandemic has stymied drone adoption charges. Persistent provide chain points for every thing from paper to shipping containers have taken over logistics professionals’ agendas. Innovation efforts (like increasing drone operations) have needed to take a again seat as logistics professionals wrestle to take care of fundamental operations. The pc chip scarcity has additionally decreased manufacturing of drones themselves.
The prediction: Consumers will flock to trusted brands for in-person experiences.
The truth: The Delta variant and lagging vaccination charges have put a damper on the return to in-person experiences. Customers are cautious about public occasions, and lockdowns have returned in some areas. Whether or not shoppers might be excited to work together with trusted manufacturers as soon as pandemic circumstances reduce once more stays to be seen.
The prediction: Private 5G will push enterprises to the edge.
This prediction was principally proper. The web of issues (IoT) is an exploding class, and the expanding number of use cases is driving want for edge applied sciences. We predicted that non-public 5G networks would come to the forefront in 2021, nevertheless, as a result of public suppliers would wrestle to roll out their 5G IoT networks.
It’s true that 5G for IoT protection supplied by public suppliers — equivalent to AT&T, Verizon, and Vodafone — is spotty and inadequate for a lot of edge computing tasks. We had been a bit too aggressive in our prediction that enterprises would embrace personal 5G for edge computing, nevertheless. We’ve seen some successes however not on the scale we predicted.
The truth: Brexit negotiations had been drawn-out and tough. Many commentators doubted that EU regulators would give the UK a favorable data protection adequacy decision. A unfavourable ruling would have made it unlawful for EU residents’ knowledge to be processed within the UK. A positive ruling was made, nevertheless, and the UK has achieved knowledge safety adequacy standing for at the very least the subsequent 4 years.
We’ll unveil our predictions for 2022 beginning on Tuesday, October 26, 2021. This yr’s predictions are centered on serving to you make assured, daring choices in an unsure world rife with disruptions and disruptors. Sign up to get an alert as soon as this year’s predictions are released.