Researchers at one of Britain’s leading support and advice platforms for startups said the 2020 market seems poised to reward new businesses that fill more conservative needs.
From sober socializing to modest fashion, experts at Startups—the UK’s largest small business advice platform—predict strong demand in 2020 for business offerings that target customers with values that lean towards the traditional.
“Non-alcoholic fun is going to be an exciting sector in 2020,” said Scarlett Cook, a Startups staffer who researches market trends.
Cook said growing numbers of Britons choosing to go sober is likely to translate into growing demand not just for non-alcoholic alternatives, but leisure and entertainment services that cater to teetotalers.
“Options to explore include creating non-alcoholic drinks or opening a non-alcoholic distillery,” Cook said. “Related opportunities lie in running festivals or events, as well as competitive socializing companies—all of which offer other avenues to access the non-alcoholic fun trend.”
Modest Fashion In the Spotlight
Another promising trend is growing demand for fashion-related goods and services for customers who put a premium on modesty.“Modest fashion is set to be in the spotlight this year,” Cook told The Epoch Times. “As well as running an online shop or becoming a social media influencer, fashion events, media publications, and styling services that are tailored with the modest fashion audience in mind all offer business opportunities.”
Modest fashion is essentially about clothes that aren’t too revealing, with examples that include long dresses, long-sleeved tops, and high necklines.
“Modest fashion has certainly gained traction within the last year,” she said. “Take a look at Marks & Spencer who now have a dedicated ‘modest’ tab on their website, or at the higher end, Net-A-Porter, who have introduced the same.”
The global modest fashion market is said to be worth hundreds of billions and is predicted to grow over the next few years. Whatever the reasons for choosing it are, modest dressing is here to stay.
Craftwork and Self-Reliance
Customers inclined to buy goods and services that tug at sentiments for simpler times also seem to be on the rise. Startups staffer Alec Hawley told The Epoch Times that research points to an uptick in demand in the UK for services that teach traditional skills of self-reliance.“Research shows that 61 percent of Gen Z Brits attended a craft-based class in the last year,“ Hawley said. ”Driven by the overall craft renaissance, the focus has shifted from buying to doing, with knitting and crochet particularly popular among those keen to reconnect with simple pleasures.”
He added that the very corporations that specialize in mechanized mass-production of the consumer goods that inundate today’s markets have a soft spot for the artisanal.
“There’s also great appetite for craft in the corporate environment with companies looking for therapeutic team building sessions an increasingly lucrative market for businesses in this area,” Hawley said.
One of these, she said, is wider acknowledgment of the benefits that craft has on mental well-being. The others are sustainability and a focus on experience.
Family-Based Elderly Care
Notions about how to care for the elderly appear to be shifting, too, with more people choosing to forego impersonal, institutional care, in favor of more traditional forms of looking after loved ones.Care platforms that let older adults to live at home independently are growing in number. Some of the business ideas taking hold in the agetech sector include apps that offer tailored, proactive care, as well as hardware and software that detect issues in a non-intrusive ways.
“The home care market is growing fast (6 percent per year, conservative assumption) while the care home market duration is decreasing,” Parmentier told Startups.
He said that in building his business venture, he leveraged the trend toward “more coordinated, tailored, proactive care instead of the generic, reactive, uncoordinated care happening today.”