Whoever could see into the future would undoubtedly be prosperous. Do you ever wonder what it would be like to go back in time, knowing what you know now, and go on an investment spree? Of course, if it were possible, someone more powerful than you would be the one doing it, right? The best we can do is make an analysis of what’s going on now and make predictions. Looking at how the world has changed in the last decade is full of clues about where we are going next. The most apparent change in society is people staying and spending from their homes. For that reason, one of the obvious things to consider is how will business respond. Here are some things that are sure to be strong in the next decade.
- Fitness: Have you seen the movie Wall.E? It predicts future ball-shaped humans that never get out of their chairs. Some people are like that already. I think that most people realize that less active living is going to ruin their quality of life. For this reason, the fitness industry should be looking at an upcoming season of growth and a steady stream of membership sales. The winners will be the franchises, as well as some celebrity trainers. Investing in fitness can be as simple as investing in a franchise or finding a gym for sale in Melbourne or other dense population centres.
- VR: We are all patiently awaiting the arrival of Virtual reality to live up to its name. The technology has come a long way, and there is no doubt there is a lot of big money pushing the boundaries as hard as they can. With people spending more time in their homes, they will be desperate for experiences. And the more authentic, the better. We all want to have a holodeck in our homes. VR is destined to be the next big thing.
- Robotics: Robotics is not new, but access to robotic products is increasing. With advances in AI, our hoes will soon start to fill up with robotics devices, for labour saving reasons, and possibly for companionship. It won’t be long until our cars are essentially robots, or drones if you prefer that term.
- Logistics: The logistics industry has already been booming in the last several years, but there is no reason why that would end any time soon. If consumers aren’t leaving their houses, then deliveries are going to increase. Expect an increase in food delivery services as well.
- Private Healthcare: Sadly, sedentary lifestyles will be prevalent, knowing what we do about human nature. Because of this, private healthcare services are going to be a booming concern. Connected to this will be the online medical consultations and mobile pharmacies.
It is impossible to know how things will turn out; we can only look at the trends. We do see a population that is beginning to appreciate staying at home, with some people even quitting their jobs because they don’t want to return to work. One can only assume that this is the area of the economy where growth is most likely to occur.