2021 is going to be a great year to start a business, never have consumers been this open to change and new ways of doing things.
With 2021 on the horizon, many people are setting goals for the new year and planning for the future. If you have been waiting to start your own business, there is no better time than the present. While we are all anxious to put 2020 behind us, this year has certainly brought about opportunities for entrepreneurs and startups going forward.
New Consumer Mindset
2020 has done one thing really well, opened everyone up to new ways of doing things. We all quickly learned that the old ways of doing things had to be revamped in the face of COVID-19.
For instance, shopping for groceries online has tripled since last year. “On the e-commerce side, food retailers’ saw online sales jump an average of more than 300% in the first several months of the crisis. ‘The pandemic suddenly and profoundly changed online grocery shopping’.” (Supermarket News) E-commerce has seen a significant boost in light of many people opting to stay home instead of venturing out to their favorite retail locations.
This year we have seen people quickly shift their mindset and priorities like never before.
New Problems to Solve
COVID-19 has brought about new challenges and in turn, opportunities for entrepreneurs to solve them. For example, the restaurant industry is one area that has certainly taken a hit this year due to limited capacity seating and take-out only mandates. While the pandemic has forced smaller restaurants to close their doors, many of these restauranteurs are turning to ghost kitchens and delivery apps to keep their business going.
Delivery-only restaurants were only a blip on the radar until this year. Gone are the days of only being able to order pizza for delivery.
“Virtual brands, ghost kitchens, delivery-only concepts — whatever you call them — have thrived during COVID-19. Euromonitor, a market research firm, recently estimated that they could be a $1 trillion business by 2030. That’s happening concurrently with near-impossible working conditions for many brick-and-mortar restaurants. Stores in cities that once did a brisk lunch business saw sales fall off a cliff. To mitigate losses, some restaurants are throwing everything they have at virtual expansion, creating entirely new brands that live online.” (Eater)
When daily life shifts and new problems arise, it opens up opportunities for new and innovative solutions.
A New You
You are never too old to start a business or learn something new. Starting a business is both exciting and nerve wracking, however with the right team in place and a solid business plan, you can make it happen.
If you have an idea for a new product, it is time to follow your dream. There is no doubt that 2021 will have its challenges, however it will also be a great year to start a business and launch your future. It is time to follow your instincts and go for it!
Additional posts around this topic:
- Starting a Business During a Pandemic | What You Need to Know
- Building a Startup Around New Consumer Behaviors
- An Entrepreneurs Guide to Your First Product Development Meeting
3D Innovations is a Product Development Company – from the 3D Design to a fully functional 3D Prototype & Product.
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