Year 2020 - Business, Customers, Market & Money

Year 2020, no doubt was a devastating year for almost all wheras it was the most fruitful & beneficial year for some.


Year 2020 gave us some remarkable insights of Business, Customer Behavior, Market & Money.

The following business "Sectors" seen a good growth or no impact of COVID-19 in year 2020 :

  1. FOOD : Whether its staples or fruits or whatsoever, this business vertical did not see any downfall rather there was quite an improvement in terms of sales, revenue & profits. People "stored" & overbought because of "FOMO" (fear of missing out). Overall business owners in this sector saw increased sales, revenue & potential stability for future.

  2. COMMUNICATION : This business sector saw good growth. Whether its a computer or a mobile phone or any other such device, people used them as they were using but it too got spikes [the data network] when people consumed trilions of bytes of data as the Computer & Mobile phone was aggresively used for both Personal & Professional purposes.

  3. AGRICULTURE : This business sector got positive impact in 2020. We are human being and we need food to survive. Agriculture did not see any major or substantial impact. It was running worldwide as it used to be. Even other consumable products such as dairy products & meat also did not see any downfall becuse people will eat & drink, whatever be the case.

  4. DEFENCE & LAW ENFORCEMENT : No Impact on this business sector. Even when Governments were struggling with funds, there was no impact on Defence infrastructure or procurements. Because everybody needs protection whether its an individual or a Nation. All forms of Law Enforcements were untouchable from COVID-19 Financial Impacts.

  5. HEALTHCARE : This was the Most Beneficial Business Sector of 2020. One of the two very known IMMORTAL verticals (healthcare & education), the Healthcare was the biggest beneficiery of year 2020. Healthcare is the backbone of any country and it proved to an extent. It proved that irrespective of times, the healthcare is Untouchable & Immortal whereas education is not.

  6. STOCK MARKET : No stockmarket was Shutdown, some companies might be. Stock Markets was running as usual without any disruption. When beds were full in hospitals, people were dying, Stock Markets were operating as usual & people were trading, a lot. In the year 2020, Worldwide Stock markets have grown [people & money].

  7. UTILITIES : Whether its Electricity Or Water Or Gas, the consumption increased in 2020 as was not earlier. It has shown , no matter what the "essentials" to live a life are going to be there in all forms as now-a-days lives depends on these.


CUSTOMER BEHAVIOR : The above example shows that People (Customers), even in adverse situations, stick to the "basic survival" that includes food, healthcare, communication, utilities etc. and once there is a sense of relief [Monetory $] then only they care about housing, education, travel / tourism and other entertainment.


MARKET : The market is run by the customer sentiments & the demand. For basic necessities, there is always demand irrespective of the situation whereas for add-on's the demand fluctuates heavily.


FINANCES : When people (customers) have money then only they spend it on the things needed or not needed wheras even if they do not have money $ and they need food then they will borrow the money and will buy the food which indicates strong customer attachment, retention towards basic necessities.


This was my analysis of year 2020 which shows what sectors have seen improvement or significant growth as was not seen earlier and what sectors were the backbone of the economy as they proved.

Author

LAKSHMAN SINGH


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