This past year has been an interesting one, to put it very lightly. So much of the economic landscape has changed and customer behaviour is vastly different to how it was before. As such, the industries we could reliably invest in before are no longer looking so profitable. Meanwhile, underdog businesses have grown exponentially, dominating the market. With all this change happening, it’s difficult to keep track of the economy and understand which industries are still good for investment in 2020. Not to worry, though. We’re going to be discussing this exact topic in our article today. So, keep reading if you want to know more about the changing marketplace and make an investment which will last you into the future.
It shouldn’t come as a surprise that the life insurance industry has been doing well during the pandemic. People are wanting to protect themselves and their loved ones amid this unpredictable time. In particular, this is because the population is well aware that the coronavirus can cause bad complications further down the line. Even if you recover from the illness and are healthy, long term conditions can still develop. As a result, life insurance businesses have seen a massive influx of clientele headed their way in 2020. Entrepreneurs have also been clamouring to invest in these companies. They hope that they can capitalise on the public’s current concern about physical health. Though this seems a little meanspirited, there’s no denying it’s an effective way to generate capital.
Food Ordering & Delivery
As restaurants have been inconsistently opening and closing, people are relying on takeaway food more and more. Rather than letting takeaway businesses dominate the market, though, restaurants have started to integrate food ordering and delivery services into their operations. This means they are investing in companies – like Uber Eats and Deliveroo – which allow people to order off their menu using the internet and later have the requested food delivered. As such, entrepreneurs have begun creating their own start-ups to compete with the leading delivery service providers. Meanwhile, investors are trying to snap up the shares in this market. Once the pandemic is over, however, food delivery services might not be so popular because people will crave the traditional dining experience.
As we have entered a recession, it’s more important than ever before for businesses to retain their original customers and keep them coming back so they can maintain a consistent source of income. This means that software for CRM (customer relationship management) has seen an increase in demand. In fact, the industry has grown by 43.1% since 2019. CRM systems allow businesses to monitor and manage their relationships with customers, clients and their sales prospects. For example, CRM software might automatically send a prompt with a personalised message to your customers if they have abandoned their online shopping cart, helping to close the sale. We imagine that CRM software will continue to be beneficial to businesses beyond the turbulent 2020, so investors could earn a steady source of capital by buying into these providers now.
iGaming is the term used to describe the activity of online gambling. This includes everything from online casinos and sports betting to virtual poker and esports. The iGaming industry has been growing exponentially in recent years as new government legislation is allowing online casinos (like the Comet Room) to provide more and more exciting activities to players. This means that iGaming operators are popping up everywhere to take advantage of the new market gap. What’s more, customer behaviour is more orientated around home entertainment nowadays. Rather than travelling a mile to their local betting shop, consumers are choosing to go to their favourite online casino instead. As such, the iGaming industry doesn’t look to be going anywhere anytime soon.
Immersive technology is one of the newest and coolest inventions on the market, meaning investors everywhere are vying to get a piece of the action. For those who aren’t aware, immersive technology consists of virtual reality (VR) and augmented reality (AR). Different industries have been investing in VR/AR for their own purposes. The gaming industry, for example, has recently developed VR headsets which cover the user’s eyes. This submerges them in a photo-realistic simulation that surrounds them 360 degrees. The gamer can interact with the virtual environment i.e. wield a sword against a fire-breathing dragon. Meanwhile, healthcare organisations have been developing AR to project an image of an X-ray onto a patient’s body, helping with the consultation process. Trainee doctors have been using VR for simulations of surgery, too. This means surgeons can be taught the ropes without putting patients at risk in the process. With the potential of immersive technology being pretty much limitless, investors should be buying shares now to really capitalise on this industry’s growth.
In recent years, podcasts and audiobooks have become increasingly popular among consumers. This is because they are the perfect way to provide entertainment whilst we go about our busy lifestyles. People can simply pop them on whilst they travel to work and complete menial tasks like clean the dishes. What’s more, audiobooks are more accessible for people with certain impediments, like blindness and dyslexia. Therefore, investors might want to give some attention to the audiobook publishing industry because it’s looking more and more likely that this will overtake the traditional publishing industry. Even if avid readers aren’t a fan, the average consumer seems to prefer this method for buying a book because it’s cheaper. This is reflected in how the industry has grown by 25% since 2019 with no signs of slowing down. Currently, the audiobook publishing sector is worth roughly £125 million in the United Kingdom alone. We anticipate this number will continue its upward trajectory. Any entrepreneur who enjoys reading should consider an investment in this industry.
These are some of the best industries for investment in 2020. We have selected them because they are currently very popular and should continue to grow in the coming years.