16 January, 2022

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The Sectors That Flourished in 2020

Michelin starred food to enjoy at home became possible during 2020

2020 was a difficult year for many, but despite that, some sectors still managed to report positive outcomes. It takes a great deal to achieve a profitable business at the best of times, but a special kind of innovation to achieve the same during times of crisis. Whether you’re interested in spreading your investment portfolio into a new sector, or just a little curious about where business is going well, we’ve got all of the information on businesses that succeeded in making 2020 a prosperous year.

Gourmet Delivery Services

It’s not often that a whole new market is created in such a short space of time, but with the closing of many restaurants all over the world, some gourmet diners really started to miss eating out. Whilst companies like Deliveroo and UberEats have existed for a while now, they came into their own at the beginning of 2020. More and more customers turned to takeaway services to treat themselves to the restaurant experience. However, some consumers wanted something a little closer to the restaurant experience than these companies could provide. Restaurateurs picked up on this and began offering part-cooked meals that were specially delivered and to be finished at home. This enabled consumers to enjoy restaurant-quality food, but within their own homes. This sector, although niche, has expanded rapidly over the past year or so. Now it’s possible to have pre-mixed or mix at home cocktails delivered straight to your door, as well as five-course tasting menus from Michelin-starred restaurants. The thought of cooking Michelin quality food in your own home sounds impossible, but many places, including Hawksmoore at Home, are still having great success with the service. Whilst the idea may have seemed a little foreign to many of us at the beginning of 2020, it is now becoming a widely accepted concept.

The Games Market

With a little more time to explore new hobbies or even perfect old ones, many people discovered games that they love. Some embraced really old favourites, like chess and chequers, whilst others opted for the latest video game releases or signed up to new online casinos, of which many popped up. So many new online casinos surfaced over the past couple of years that Vegas Slots Online has a whole section dedicated to the very best ones. They rank each casino site individually, for factors such as the variety of games, deposit options, and the sort of bonuses available. Whilst there hasn’t been such a proliferation in online chess sites, you might be surprised to hear that online chess playing has indeed leaped up as well. All areas of the games market, whether board games, console games, or online games, have reported positively about the past financial year. If there was ever a time to invest in the games market it was at the beginning of 2020, but failing that, now might be the next best time to start.

Connecting Software Applications

Software like Zoom came into its own during 2020

During 2020 and even heading into the beginning of 2021 we relied on software to connect us far more than we ever have before. Zoom calling was one of the biggest trends of 2020, but it wasn’t just calling family and friends that required innovation. There was also a huge spike in the number of people working from home, meaning that organizing work meetings often became a task for webcam, rather than the boardroom.

More than this, companies like Slack and Trello were used far more widely than ever before to enable teams to work together, whilst they may be geographically separate. Another area where we needed help connecting was with internet retail. Where many of us would have headed to a shopping mall for birthday presents, or even new clothes, the average consumer was instead relying on the internet for most shopping. Giants like Amazon faired particularly well, but the smaller players (though still enormous companies) like Etsy and Shopify reported huge growth spikes. The number of Shopify outlets increased massively, with sales increasing almost in line too. Internet shopping has been around for a long time, but the uptake of the consumer during 2020 gave it an enormous boost. Since brick-and-mortar shops reopening, a spike in sales was expected, but internet retail is still receiving the lion’s share of the consumer’s money.

 

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