Covid-19 was not a good time to be a small business owner without a web presence. With all the uncertainty and lessened foot traffic owning a business in the physical space was never more risky. So what are the best online industries? Well we at Advisight decided this list of industries by analyzing the resilience of the industry in the face of lessened foot traffic.
The Best Online Industries
The Food Delivery Industry
If you have been at home you are probably familiar with all the delivery services. It’s no surprise that this industry proved itself as a staple. Food suppliers have never been quicker to meet their clients. Restaurant deliveries have increased by 20 per cent over the last five years. While estimates vary, by 2023 online food delivery sales are estimated to increase by as much as $220 billion, 40 per cent of total restaurant sales.
Zoom calls, Facetime, Facebook Video Rooms, all these are now a staple in our everyday lives. Thus, its no wonder why the shares in the parent company increased. Although, this reaffirmed the belief that social media is the new age of communication it was unexpected.
Social media is a computer-based technology that promotes the development or exchange of content. Thus, the market size of the Social Networking Sites industry in the US has grown 25.7% per year on average between 2015 and 2020.
Whether you are swiping endlessly or trying to find the love of your life you have used a dating app. Even more-so during the COVID-19 lockdown to pass some time. Online dating is a mechanism that allows users to identify and introduce themselves to possible Internet partners, usually with the intention of establishing financial , social or sexual relationships. Since there is something for everyone, revenue in the Online Dating market is expected to hit US$ 1,754 million in 2020. This is expected to show an annual growth of 9.3 per cent, resulting in a forecast sales value of US$ 2.505 million by 2024. User penetration is expected to be 2.6 percent by 2020 and 3.6 percent by 2024.
College Student or High School Student, E-learning is now apart of our educational culture. Thus, this industry continues to grow. The Global eLearning Industry will hit $325 billion in 2025. The global eLearning industry amounted to an unprecedented $107 billion in 2015. However, by 2025, Analysts and Markets agree that it will hit an incredible overall market valuation of $325 billion.
Its safe to say that it was a good year for internet based businesses. A good web appearance helps you to build up your business and earn the reputation you need to draw more customers. In addition to keeping your company readily available, online presence also offers your customers an convenient way to find out more about what you have to sell. From this the advantage that these industry have is clear.