Are you wondering what area to start a business or what direction to take your current company in as we approach 2020? Some industries are trending upwards and set to boom.
Let’s take a look at some of the key fields that will be in high demand in the near future.
According to Forbes, number one for predicted growth is online retail. With more and more consumers being connected to the internet around the world, the potential for sales is enormous.
Within this category, what’s termed as ‘fast fashion’, i.e. Affordable clothes that buyers don’t expect to be wearing in one or two years time is one a frontrunner. The target audience for this type of clothing is young, cashed up and tech savvy – the perfect formula for profits!
Online grocery shopping will be on the up too in the next five years, with traditional retailers being joined in the space by gourmet, organic and specialised food options.
3D printing is to manufacturing what email was to communication. It changes everything, cutting development costs and fast-tracking time to market.
This technology is still considered experimental by many, but already entire apartment blocks are being constructed using 3D printing technology.
The cost of 3D printing is set to fall and the number of uses are set to skyrocket. Think jewellery, think toys, architecture and car parts. Even prosthetics can be created with 3D printing.
This industry has been on a roll for a long time, with no signs of slowing. Yoga and Pilates are hotter than ever. Also on the rise are MMA ‘fighter’ workouts and spin cycle classes.
If you doubt how easy it can be to profit from the wellness industry, consider the story of ‘BodyTea’, a weight loss tea formulated by an Australian teenager. This junior entrepreneur is making thousands of dollars a week, shipping his specially formulated product worldwide.
Smart wellness vendors have technology on their side, making the most of online marketing and the power of video to reach a global audience.
It seems that a new product comes out every minute that is promising to make your online interactions faster and more productive. But there wouldn’t be a constant stream of new products if there wasn’t opportunity to monetise!
Clever software producers are seeking out the niche industries that are lagging behind when it comes to technology. They’re figuring out what is frustrating the people in these industries and creating clever solutions that work.
What do you see as a boom industry as we approach 2020?
Dale Beaumont is the CEO of Business Blueprint, a revolutionary program for small business owners. Click Here to sign up for a one day workshop in your city that will change the way you run your business.
Disclaimer: This article contains general information. Before you make any financial or investment decision you should seek professional advice to take into account your individual objectives, financial situation and individual needs.