What does the year ahead look like? Technology will certainly be a major driver in our lives.

“In 2023, artificial intelligence will become real in organisations,” writes futurist and Forbes contributor Bernard Marr.

He predicts contactless, autonomous shopping and delivery will also be a huge trend for 2023. AI will make it easier for consumers to pay for and receive goods and services.

If we look at each sector, there will be specific trends to embrace – from organic, wellness-promoting foods to data management in finance.

Mintel for instance has identified four major food trends. The recent hacks on personal data has raised the alarm about cyber security, and that will be an issue for all firms.

And sustainability in many forms is crucial to how we shape our lives and our businesses.

6 key trends that are influencing business

Let’s focus on some essentials you can look for when researching franchise opportunities.

Intelligent technology

Our world is getting more and more automated, and augmented and virtual reality are part of the mix now. Consider if the business is facing up to the challenge. Is gamification part of the tech mix for customers? How much investment goes into technical innovation? What does the franchisor have planned to improve franchisee efficiencies through technology? How will the brand engage with the Metaverse? And has the business embraced voice search?

Sustainability

Australians are increasingly conscious of their consumption and how it affects the planet.

Just look at the proliferation of plant-based foods, the healthier menus and sustainable actions the hospitality industry is delivering.

Consumers, we are told, are increasingly drawn to brands that have strong corporate social responsibility. A business that shows it is about profit with purpose is right on trend.

How does the franchise shape up on these issues? Is there active engagement with community and charitable foundations? Is there a clear sense of purpose? What practical steps does it take to help franchisees implement sustainable actions?

If you need a car or van to do the job, does the company have a plan for electric vehicles? Can the business operate a circular economy?

Care and compassion

Covid-19 and natural disasters may well have enhanced our natural sense of compassion; there is certainly a rising tide of community consciousness.

And with a growing demographic of senior citizens, the Boomers and Silent Generation, there’s plenty of business potential.

The at-home aged and disability care franchises are really making their mark. There are also services that deliver practical solutions to make life easier and more manageable for our most vulnerable.

However, every brand can deliver care and compassion. Does the franchise lead the way in promoting inclusion and accessibility? What are the processes for franchisees to bring their own ideas on implementing greater care and compassion to the wider network?

Immersive experience

Retailers and hospitality chains are spearheading what good customer experience looks like. The crossover between the digital and physical worlds are blurring, and it’s an important development for all businesses.

In fast food automation is a common inclusion now – but where will it go next, and is the franchise you’re considering ahead of the game? Convenience stores and other retailers are testing new techniques for customer engagement – what about your brand?

Creating a unified experience across all platforms links back to the intelligent technology trend.

Convenience and delivery

Customers want seamless transactions, and increasingly expect a brand to provide what they want, when and where they want it. That means contactless, autonomous shopping.

Investment in technology is essential to ensure brands can meet customer demands. How are brands using AI to help?

The collapse of Deliveroo and some grocery delivery start-ups in Australia reminds us that a band wagon can go off the rails. Smart franchises are becoming more self-reliant, providing their own, more cost effective delivery solutions.

Wellness is a key trend influencing business

Recent surveys show the importance of good health and wellbeing. Firstly, in terms of a business offering. The wellness trend crosses from the obvious – fitness, massage, floatation, food – to areas such as travel, real estate and construction.

In wellness-related industries, customised service is becoming popular. Again, it’s about the experience. How is the franchise planning to boost its performance, to differentiate the brand from increasing competition?

In businesses where wellness is not the core function it can still be embraced internally. Mental health concerns raised their heads during the pandemic and franchisors responded. So does the business offer an employee assistance program? Are there mentoring and nurturing opportunities among franchisees? Has the franchise embraced a standard procedure to respond to wellbeing concerns?