The changes made to our day to day lives created some major changes in our consumption habits. Online shopping has become the new normal, and this trend is expected to continue long after the end of the pandemic. And while some industries have suffered, others haven’t even been able to keep up with demand.
Despite the challenges and struggles of a pandemic economy, the pandemic has also created new opportunities to be capitalized on by new entrepreneurs looking to start an online business.
When the pandemic hit North America in 2020, consumers decided to spend their money on comfortable fashion. From April to March 2020, the online sales of pants fell by 13%, while the online sales of t-shirts and pajamas went up by 47% and 143%, respectively.
It only makes sense, considering how many people are now working from home, and spending more time indoors and online shopping during quarantines, lockdowns and curfews.
Major American apparel companies were quick to capitalize on these new online shopping trends, and quickly pitched the idea of selling comfort as a luxury to their customers. Nordstrom promoted shoes for “around the house” and athletic apparel company Bandier launched their “cook in your sweats” campaign.
The online sale of warm socks, house slippers, hoodies, t-shirts, loungewear and sleepwear have all seen a rise in popularity, whereas the online sale of suits and other formal work clothes have decreased. The Atlantic even featured an entire article on sweatpants, and how the pandemic is helping them make a comeback.
These online consumer trends of investing in being comfortable, instead of looking formal, continue to hold and experts predict they will continue in 2021. So if you’ve always wanted to start your own clothing line and sell them on your own website, you know which clothing items are currently in high demand.
Gyms, community centres, fitness classes, yoga and dance studios have all had to close in 2020, for weeks or months at a time. Experts predict that gyms may never fully recover from the pandemic, their customers have adapted to virtual exercise classes or purchased their own at home fitness equipment, and these trends may be here to stay.
North Americans who were left restless during lockdowns went online shopping and looking for personal home fitness equipment. From March to October in 2020, heath and fitness equipment revenue more than doubled.
And some online suppliers have noticed the growing trends of smaller, affordable, space saving fitness accessories that can be tucked away in small apartments. Dumbbells were so popular in 2020, they kept selling out online.
Another hot online commodity in 2020? Running shoes. Some customers were less interested in turning their homes into makeshift gyms, and started getting their exercise outdoors.
Hiking and jogging has increased in popularity, as well as cycling and camping. These trends in outdoor gear are predicted to grow until 2025, according to market research.
There is a demand to be filled by entrepreneurs looking to start their own online business, you just need to research the consumer trends and make sure you tap into those growing markets.
Shifts in consumer habits mean new opportunities for new entrepreneurs. If you have an idea for a product in any of these categories, now is the time to start your online business.
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