2011 will be another roller coaster year of threats and opportunities. Amidst currency wars and defaulting nations, there will more opportunities than ever for creative brands and entrepreneurs to deliver on changing consumer needs, says global consumer trends monitoring firm trendwatching.com. It outlines what it considers will be 11 crucial consumer trends for 2011.
WikiLeaks drip-feeding of a huge stash of American diplomatic cables to the world was one of the big news stories of 2010, with the promise of some big corporate leaks to come in 2011.The digital revolution and the rise of social networking make it all but impossible for companies to keep complete control of their data, The Economist warns.
The export sector, a shining beacon in 2010, is upbeat and determined to increase its exports in the year ahead, according to Export New Zealand’s inaugural Export Outlook survey. Eighty percent of those surveyed are expecting to increase their orders across all markets. “Kiwi exporters are looking forward to 2011 with confidence borne of experience and self belief,” says Catherine Beard, executive director of Export New Zealand.
New Zealand’s most significant economic challenge “is increasing national savings and reducing our heavy reliance on borrowing from overseas lenders”, says Finance Minister Bill English. Budget 2011 will ensure the Government plays its part in improving the country’s national savings by controlling spending increases and setting a credible path back to budget surplus, he says.
From BP to Facebook, shabby behaviour by companies got plenty of headlines in 2010. Forbes Magazine has ranked its 10 biggest corporate gaffes in 2010… and there’s no prizes for guessing which company came in at No 1.
Don’t expect 2011 to herald a sudden economic transformation – in fact the snail-like recovery is expected to continue for at least the first quarter of the year before growth perks up. That’s the message from New Zealand Institute of Economic Research (NZIER)’s latest quarterly economic consensus forecasts released this week.
As another hard year for many companies grinds to an end perhaps we can take comfort from some perversely prophetic forecasting by ANZ Bank’s chief economist Cameron Bagrie early this year: “If 2010 is a tough year, then I’ll be euphoric over prospects for the subsequent five.”
