The year 2020 saw millions of businesses shut down. Among them, a significant portion may never re-open while others may resume operations but in smaller capacities. To call it a devastating year in business certainly seems like an understatement.
The arrival of the Covid-19 vaccine has heralded hope back into the business arena. Investors may begin to loosen their purses again albeit armed with lessons from the pandemic and some cautious optimism. If you are one of them, here are sectors you may want to keep an eye on as they are likely to soon grow and soar.
Fintech
The growth of the fintech sector is no longer an intriguing headline. It has been on a steady upward trajectory for years as consumers continue to seek ways to transact with ease. However, it turns out that moving money was just the tip of fintech; there is a whole iceberg to explore.
The emergence of cryptocurrency has brought with it more growth opportunities in fintech. True, it has been riddled with lots of apprehensions and a lack of clarity. What is it? Does it hold any real monetary value? However, the sudden appreciation of the value of bitcoin has caught the attention of consumers and they want in.
Any fintech company that can demystify cryptocurrency and provides an app or a user-friendly trading platform will win big. It Is not that people do not want to get involved in crypto it is that the concept is a bit foreign. The opportunity niche here is to make it more relatable and accessible.
Health Tech Devices
As consumers get more conscious of their health there is an increasing demand for personal health devices. By definition, these are devices that allow people to keep track of their health with the aid of technology. They can also be devices that contribute to improving your health and wellness.
The most relatable example of a health monitoring device is a Fitbit or a smartwatch. Such devices can now give you a rundown of various health parameters like your heart rate and sleep patterns. Some can even be programmed to dial for help if your health data is within alarming levels.
There are, however, other health-based devices in the market that may shake the industry up and become the new growth frontiers. They include clever innovations like the air purifiers from HisoAir that disinfect and improve air quality in residential and commercial spaces. They are likely to become indispensable as people return to shared workspaces post-Covid. Smart home apps that are compatible with such devices may also be in high demand.
Cross-border Real Estate
Investing in real estate in foreign countries is now an up-and-coming trend. Buyers are no longer restricting themselves to buying secondary homes in their country of origin. Instead, they are exploring destinations they love and choosing to make a home there. An apt illustration of this would be the golfing community homes in Dubai owned by numerous foreign investors.
There are two areas of opportunity to keep an eye on in this cross-border real estate trend. On one hand, you could become a bridge between buyers and international properties; in essence, an international real estate agency. The other would be to put money in firms that are building such real estate. Whichever the case, this is one sector that will likely grow in leaps and bounds.
Pro-health Consumerism
Modern consumers are very keen on the ingredients that go into a product. This is because they are wary of products that contain ingredients like BPAs or parabens. Their links to cancer, hormonal imbalances, and reproductive challenges have been well-documented and most people are not willing to roll the dice with their health anymore. As is the norm in business, this change in preference and consumer habits has created a growth niche.
Most brands are now making an effort to offer organic products or to exclude certain ingredients in their formulas. The difference is that whereas in the past such changes were only tied to food products, they have now taken on a broader perspective. Other products like cosmetics and product packaging are also being carefully formulated to pass consumer scrutiny. That said, there is still plenty of room and demand for honest brands that offer non-toxic products in the right packaging and at fair prices.
Data Protection
It is a running joke among most people that you should not have a conversation with your phone in the room. One moment you are talking to your partner about setting up a trust fund for the kids and suddenly trust fund ads are popping up as you browse the internet. Companies claim that they are only gathering data to help tailor-make experiences for their clients but the truth is, it is an infringement of privacy.
In the near future, any company that can provide reliable data protection tools will likely be a well-embraced hero. Consumers are tired of their data being traded and turning them into pawns. So much so that they may even be willing to pay a premium to keep prying eyes out of their lives.
Conclusion
Growth in any sector is driven by the forces of supply and demand. If you can capture the needs of consumers, then it is easy to understand what to invest in at different times. The trick, however, is to go in before the market is flooded and profits diminish.
