The year 2020 was the year of the Pandemic and marked by lockdown, social distancing, and home quarantine. Many businesses had to shut down as they were not ready to embrace the sudden Pandemic and had no digital presence online. The second half of 2020 saw some companies making the digital transformation. However, local businesses and some large ones were still unequipped for the change.
Customers were confined indoors, and they started to make their purchases online. Some companies, however, in the last quarter of 2020 reopened with a remote workforce from home. Though business resumed as usual, every company did suffer an economic blow, and there was a dip in sales and profits.
Steven Fisackerly – Will 2021 be better?
Now, with 2021, the question most people ask is will this year be better than the last? Steven Fisackerly from Long Island is a retiree that spends time studying global economic trends, says that with 2021 some companies will do better than 2020. IT and pharmaceutical companies will see a boost in their business. Organizations engaged in digital marketing will also boom in 2021.
Pharmaceutical companies are gaining approvals when it comes to the manufacture of drugs and vaccinations to combat the coronavirus. There is a high likelihood that the export of these drugs and vaccinations will rise in 2021. IT companies, especially those dealing with artificial intelligence and machine learning software, will see a positive surge. They will play an important role in supporting the eCommerce market.
Though real estate looks down, it is hard to say as of now whether it will pick up or not. There is still a lot of uncertainty in the market, and businesses must ensure they take caution in analyzing global and economic trends before making short and long-term plans.
There are signs of some markets picking up
Again banks, businesses that deal with the supply of housing material, cement, capital goods, and industries will make an attempt to outperform their profits of last year. Commodity markets are rising like never before. The COVID-19 Pandemic has indeed been one of the worst that the world has seen. However, markets dealing with commodities across the globe have witnessed a positive surge in supply and demand.
Even if you take a look at the stock market in some nations, you will find they do at an all-time high performing rate. Most countries are gradually regaining the lost momentum in 2021 when it comes to wealth and growth.
Steven Fisackerly sums up by saying local businesses should go on to make a digital presence online if they need to cope with the Pandemic. There are still restrictions on movement in some places, and in areas where fresh cases of the infection have been detected, lockdowns have been impacted sales. This is a huge blow to small local businesses, and they should now resort to digital means to connect with their targeted customers. This is the only way they can survive in the post-pandemic era today.