Throughout 2020, all our lives were somewhat disrupted by events.
The C-word was and still is on everyone’s lips.
We all grew a beard and shaved our head.
Well, I did.
My wife didn’t.
She literally knitted and crocheted her way through several lockdowns and curfews.
Working from home is nothing out of the ordinary for her. It is her profession. Her creations are extraordinary.
She relishes the quiet and the space to store her wool, mohair&silk, cotton reels and spinning contraptions. She loves to change rooms based on the time of the day, to capture the natural light.
I should say: “Relished”.
Imagine the pleasure of having her haven of peace invaded by 4 boys. All boisterous, of course, apart from yours truly, competing for food and above all, bandwidth!
We have 2 adult lads at University and one lad in Sixth-Form college. All have had to adapt to these strange times that will be engraved in their memory forever. The youngest is happy to be confined. The older boys are going stir crazy and jump at the chance of making an appearance at Uni or just doing normal things with their mates.
The Cogs Keep Turning
Many people continue to travel to work.
Fortunately for all of us, those in essential professions on the front line have been doing a stirling job, ensuring that the wheels and cogs of society keep turning.
Many others have found themselves working from home for the first time.
I’ve been working from home and haven’t seen my colleagues in 10 months. Isn’t that crazy! I look forward to my morning power-walk or run, an absolute must for my sanity.
Society Is In Flux
We are getting used to re-organising our days. Our eating and working habits have been shaken up. Thanks to technology, our kids have experienced online teaching for the first time.
Travel plans have been uncertain, chaotic or simply put on hold. Many have taken to choosing their holiday destination on the last minute.
It’s interesting to take a quick look at how consumer spending has evolved in recent times. Certain sectors were obviously badly hit:
- High-Street Retail
Others benefited from the chaos and unexpected turn of events:
- General Merchandising & Groceries
- Food Deliveries
- Video-conference software companies
- Online Education
There is one noteworthy evolution that has not escaped our attention:
E-commerce Sales literally exploded in 2020.
For 2020, worldwide retail E-commerce sales are estimated to be just over 4 Trillion USD. That is an increase of 27% in 2020 from the previous year
Latin America stood out from the rest with over 36% growth.
Argentina’s E-commerce sales grew by a whopping 79% in 2020.
Looking at how E-commerce sales have grown since 2010, let’s take the US as an example:
- in 2010, online US retail E-commerce sales represented less than 5% of all Global Retail sales.
- It took 10 years for US retail E-commerce to reach 12% of Global Retail sales.
- In 2020, it took less than a year for US E-commerce sales to go from 12% to 16% of Retail sales.
That is hyper growth.
Bricks and Mortar vs. Digital
Many traditional “bricks and mortar” companies were caught off-balance during the pandemic as they had little or no Online presence. Lockdown was a massive blow to them. Many of these companies have been working hard to turn things round.
E-commerce sales have a bright future ahead of them.
Companies selling products and services online cannot rely on their own resources to market their products. They require intermediaries to help them. People. Individuals. You and I.
Stepping into the online space has never been so enticing.
There is indeed opportunity to be had from this Crisis.
Now, more than ever, upskilling in the digital world is seen as a great way to
- generate passive income
- create multiple income streams
- create a part-time or full-time activity
- change your lifestyle (working and living)
You choose. Who mentioned anything about quitting your job?
It is possible to remain an employee and cultivate your entrepreneurial skills.
An online business can be scaled up, scaled down to adapt to your lifestyle. No need to quit your job.
The best investment you can make is in yourself.
In yourself and in your education. This is an on-going process as far as I’m concerned.
It is in our interest to become financially independent. Become self-reliant.
Be able to take those unexpected knocks in life.
The C-word comes to mind.
Aim to become Antifragile…