- William Blair Thinking highlights 2026 investment themes spanning emerging markets, stablecoins, and consumer-services shifts.
- Emerging markets may benefit from a softer dollar, moderating inflation, and strengthening domestic fundamentals, supporting a potential rotation away from developed markets.
- Stablecoins are expanding from crypto trading into B2B and commerce use cases, but regulation, compliance, and trust remain key constraints.
- Private equity is accelerating investment in high-volume, low-price fitness clubs as younger consumers prioritize affordability and simple memberships.
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As of late December 2025, William Blair Thinking has released multiple pieces that reveal key strategic inflection points for investors and corporate leaders. One theme is the shift in equity flows toward emerging markets (EMs), supported by downside moderation in inflation, a weakening U.S. dollar, and growing domestic strength in EMs. ([im.williamblair.com](https://im.williamblair.com/insights/trending-topics?utm_source=openai)) The platform suggests that 2026 may herald a broader rotation in global leadership and opportunities beyond developed markets, especially as EM quality improves. ([williamblair.com](https://www.williamblair.com/Thinking/Trends-and-Perspectives?utm_source=openai))
Another focus is the rise of stablecoins—not merely as speculative instruments, but as components of future payments infrastructure. Adoption indicators include increased usage in B2B settings and clearer regulatory pathways. However, compliance, regulatory risk, and trust remain central frictions. ([williamblair.com](https://www.williamblair.com/Thinking/Trends-and-Perspectives?utm_source=openai))
A third trend signals generational change in fitness and lifestyle sectors. Private equity is pursuing the high-volume, low-price (HVLP) fitness club model that favors affordability over amenities. This responds to younger consumers’ preferences and competitive pressures in health-related consumer services. ([williamblair.com](https://www.williamblair.com/Thinking/Trends-and-Perspectives?utm_source=openai))
The above insights carry implications across capital allocation, regulatory strategy, and competitive positioning. EM exposure may offer upside but comes with currency and political risk. Stablecoins could disrupt payments and banking but will force increased regulatory oversight. The fitness-space model pressures incumbents to adapt, consolidate, or face margin compression. Each theme opens strategic questions about infrastructure, policy, and consumer behavior.
Open questions include: To what extent will EMs decouple from developed market policy risks? What legal frameworks will shape stablecoin viability globally? How might regulatory bodies around finance respond to HVLP in consumer health and wellness? And, how will capital providers balance growth versus risk in deploying across these trends in 2026?
Supporting Notes
- Emerging markets outlook: investors expect stronger EM growth driven by softening U.S. dollar and moderating inflation. ([im.williamblair.com](https://im.williamblair.com/insights/trending-topics?utm_source=openai))
- Stablecoin adoption is now being seen beyond crypto trading into mainstream commerce and B2B payments. ([williamblair.com](https://www.williamblair.com/Thinking/Trends-and-Perspectives?utm_source=openai))
- Regulatory challenges for stablecoin adoption remain significant, especially compliance and legal clarity. ([williamblair.com](https://www.williamblair.com/Thinking/Trends-and-Perspectives?utm_source=openai))
- Private equity investment is accelerating in high-volume, low-price fitness clubs, reshaping industry with affordability and scale. ([williamblair.com](https://www.williamblair.com/Thinking/Trends-and-Perspectives?utm_source=openai))
- Consumers (especially younger cohorts) are shifting preferences which favor simpler memberships over premium amenities. ([williamblair.com](https://www.williamblair.com/Thinking/Trends-and-Perspectives?utm_source=openai))
- The trend platforms identify several investment themes for 2026: EMs, AI infrastructure, energy policy, and retail innovation. ([williamblair.com](https://www.williamblair.com/Thinking/Trends-and-Perspectives?utm_source=openai))