6 Services Thriving in 2020

2020 has been a tough year for most service-based businesses. With that said, resiliency is on full display, with companies big and small finding ways to reach customers and remain open.

What’s more, some businesses are thriving like never before. The following are six services seeing significant success in 2020:

Lending

With so many individuals and companies experiencing financial shortfalls this year, it’s no surprise borrowing rates are going up. More families are using personal installment loans to supplement reduced household income, while companies are using business loans to cover payroll and expenses. Lenders have stayed busy, processing applications as fast as they’re received.

SaaS

It’s safe to say 2020 has become the year work-from-home went mainstream. Companies around the globe have shifted to entirely remote-based operations, meaning many of them have come to rely on software as a service more than ever before.  Whether it’s business-grade video chat apps or collaborative software, companies count on them to conduct business as usual during most unusual times.

Delivery

In response to social distancing guidelines, more consumers are turning to online shopping. Whether it’s a pallet of toilet paper or a month’s worth of groceries, these and other essential products must get delivered to your door. While the fulfillment process is getting pushed to its limit, there’s no denying delivery services are booming in 2020.

Streaming

Among other memorable events – some related others not – 2020 will be remembered for the amount of time we spent at home. It’s been a goldmine for streaming services, with record numbers of new subscribers as well as an enormous increase in hours of content watched. Whether this burst in demand becomes the norm or reverts to pre-2020 levels remains to be seen, but it’s been an excellent year for streaming services.

Gaming

On a similar note, gaming consoles and their respective online gaming services have seen record sales and subscriptions in the last few months. In particular, stores and online sellers can’t keep up with the demand for the Nintendo Switch, a gaming console first released over three years ago. Given how much time everyone is spending at home, it’s no shock to see sales soar for video game products.

Grocery

In times of crisis, such as natural disasters and social unrest, people tend to start panic buying food items and other products deemed to be essential. The result is iconic images of empty aisles in stores across the planet. While it’s safe to assume the owners and executives would prefer an average year to this one, grocery stores and supermarket chains have been some of the real winners in terms of maintaining and exceeding sales expectations for 2020.

The world has seen better days, but it’s also seen much worse. As far as most businesses and individuals are concerned, the main objective is merely getting through the rest of the year in hopes 2021 will improve. For others, the demand for their services has never been greater. Regardless of whether sales are up or down, we can all agree a return to normal is the preferred outcome.

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