Ecommerce Business Market in 2020: Industries with the Most Profit

Few business owners can say that this year has been a successful one. For most industries, 2020 has been dismal at best and disastrous at worst. Think about concert venues, bars, movie theaters, land-based casinos, hotels, and whatnots. Almost all of these businesses have been suffering because of the lockdown. However, this is not true for every industry out there. Despite the trainwreck that 2020 has been so far, some businesses managed to not only survive but actually thrive. So, if you are looking for an industry to invest in 2020-2021, here are some of the options to consider.

Remote Learning

 Sure, with most schools and universities going online, connectivity-enabling platforms have thrived this year, but the same applies to what we usually refer to as self-education. For many people, especially in the industries hit the hardest, the lockdown has been the time to stop for a second and reconsider their lives and careers. Education is one of the obvious – and arguably great – pastimes for long and lonely months of the lockdown, which means that remote learning platforms have had a very good year. Coursera has doubled the number of new users compared to 2019.

iGaming

With land-based off-limits for the better half of the year, players had to adapt. Think about all the nights that gamblers had during the quarantine, craving the well-familiar thrill of a roulette table or slot machine. Quite predictably, fantasy sports as well as betting and online casino operators have had an amazingly good year. Chances are, even when the second wave of the lockdown is over, and land-based casinos across the globe reopen again, many players will continue gambling in the comfort of their own homes. Nothing like a pizza, beer, and slots night . . . in.

Remote Wellness and Fitness

Gyms, massage parlors, and other self-care and sports businesses were unavailable throughout spring. At first, some of us were glad to have an excuse to skip a workout, but, being locked up in small apartments, started craving at least some physical activity soon enough. Besides, seeing as the lockdown affected people’s mental health, fitness became a form of therapy for many of us. As a result, fitness and wellness apps increased their revenue. For example, Keep, a Chinese fitness app with workout programs, went up from 260th to 79th in terms of downloads on Apple Store.

DIY and Renovations

Another popular activity in quarantine has been home improvement and all sorts of DIY. Locked in our homes 24/7, many of us got fed up with the old interiors pretty quickly and decided to change them a little bit. For others, the lockdown has finally presented an opportunity to spend a minute off-work and do something around the house. The numbers are astonishing. According to the poll initiated by the Bank of America, as many as 70 percent of respondents have started or at least planned renovations during the lockdown. Tools and materials for easy DIY home renovation projects are definitely a promising investment for 2021.

Mobile Banking

While banks remained open in the majority of countries even in spring, people have been wary about visiting them unless absolutely necessary. Most of us are trying to follow social distancing recommendations and spend as little time as possible in public places, especially indoors. Mobile banking offers an easy solution. Basically, you can do most of what you need to go to a bank for using an app on your smartphone. It is as safe as it is convenient. No wonder mobile banking is predicted to grow exponentially in upcoming years.

Sure, there are many more industries to look into if you consider investing in 2020-2021. Do your research, but whatever facilitates to remote anything (work, education, workouts, partying, movies, you name it) is worth looking into.

This article Ecommerce Business Market in 2020: Industries with the Most Profit appeared first on Entrepreneurship In A Box by Dragan Sutevski

Original source: https://www.entrepreneurshipinabox.com/22996/ecommerce-business-market-in-2020-industries-with-the-most-profit/?utm_source=rss&utm_medium=rss&utm_campaign=ecommerce-business-market-in-2020-industries-with-the-most-profit


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