Top Industries That Had Significant Growth in 2020
In spite of the fact that 2020 has been a difficult year for almost everyone, there are businesses that stand out for their growth. While the actual world context has pushed some industries to the brink of a major recession, some businesses seem to have characteristics that are able to endure. People have had to adapt to a more restrictive lifestyle, and they spend more time online. Take a look at some of the industries that have grown during 2020.
Health Care and Pharma
It’s a given that during a sanitary issue the Health and Pharma industry would thrive. Not only are people flocking to healthcare clinics for testing and treatment for the virus, but the facilities are getting grants from governments to ease the strain from all of the extra patients. In addition, drug companies are working hard to come up with viable treatments and a vaccine. Investors understand the significance of a vaccine being developed, and they are looking at the most promising companies as a potential for investments.
With the surge of people stuck at home, Over the Top platforms are doing very well in 2020. People have very few choices for entertainment with most nonessential businesses being closed down, and streaming services such as Netflix and Amazon Prime are fulfilling their needs. People are streaming movies, television, books, and music, and these changes could last a while. Even as businesses open, people are cautious to attend large gatherings, and features such as watching Netflix together with friends offer people an opportunity to escape the drudgery of lockdown life.
Online gaming is another beneficiary of this period. While it used to be a way that some people passed time, it has presented itself as a means to interact with others and pass time during restrictions. Online casinos such as Unibet Casino have experienced incredible growth as people look to find ways to spend their free time inside their homes. It offers players a way to connect with others as well as the thrill of potentially winning jackpots from the comfort of their own homes.
Perhaps one of the biggest winners during 2020 was ecommerce. With people taking precautions to protect themselves and avoid becoming sick, they are flocking to ecommerce sites such as Amazon for all of their needs. They can find everything they need through these platforms, and with the change for many people to working from home, they need a lot of supplies.
Consumers can buy items such as groceries, office supplies, toiletries, and other products from ecommerce sites rather than shopping in person. They are also finding crafts and other activities to pursue at home.
In addition to those who already shop online, many who did not are now exploring e-commerce. This has increased the market a great deal, as people buy everything they need from these sites. As brick and mortar storefronts struggle to survive, they, too, are turning to online sales to retain their customer base. All of this is leading to a surge in e-commerce that has grown dramatically in 2020.
Another industry that has grown in 2020 is the investment industry. People are not spending their entertainment money, and they have been able to invest. With extra time to research mutual funds and stocks, they are able to learn about ways to invest in their future. Investors are employing strategies that hope for recovery and a return to normal in the future, and this industry is doing well. Mutual funds portfolios have grown in 2020, and people are looking to the future when life returns to normal.
Although much of the world is shut down and trying to survive and make it through this period, some industries have grown. Growth exists in industries that people can easily access from their homes, as well as health care because it provides good treatment options. The growth might be sustainable for certain industries as people become more accustomed to shopping online. In addition, as they learn how to invest their money, they may continue to take an interest in moving forward.