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5 Business Trends in 2021 That Every Student Should Know About

Business Trends in 2021

Business isn’t just important for students in this line of career or academics. The dynamics of business affect the prices of commodities, healthcare, travel, insurance, and even education. Students can also learn from their academic and practical experiences certain skills that are useful in creating, running and expanding businesses.

Since the global economy has been rocked dramatically in 2020, professors and instructors more frequently assign business topics that showcase global trends. In case you get stuck, the following topics on 2021 business trends might give you a head start.

  • The Skyrocketing Price of Bitcoin 

Bitcoin has been on quite a roll for the last half-a-decade. On the last check, the price of BTC  was $34,000. Bitcoin emerged from a free-market crypto-model premised on the idea of liberty from government control and currency manipulation.

5 Business Trends in 2021 That Every Student Should Know About

Bitcoin is effectively worth more than gold. What differentiates gold from Bitcoin is that gold is an actual physical commodity that’s rare. Skeptics argue that Bitcoin isn’t a physical thing and that it isn’t even meant to be a form of money.

But bitcoin is a form of money, and there is already a burgeoning market growing around it. There are Bitcoin wallets, crypto-exchanges already facilitating bitcoin trade, and individual users with Bitcoin wallets. This may be the potential that early investors like the Winklevoss twins saw in Bitcoin.

  • The Takeover of eCommerce 

Everything is about e-commerce now since business owners are always looking for ways to reduce CAPEX needs, e.g., warehouses, physical retail outlets, etc. The rise of global behemoths such as Amazon and Ali Baba overshadow the rise of so many other smaller businesses located online.

One such business is Jumia, the largest e-commerce company that spans sub-Saharan Africa but is headquartered in Germany. Although the company faced multiple challenges, it managed to scale operations and make e-commerce a reality for millions in Africa. E-commerce spans multiple industries, such as food delivery, logistics, healthcare, and insurance.

With e-commerce costs, prices reduce drastically, which begs the question; how will physical retail outlets survive beyond 2021?

  • TikTok; How Bans by India & the US Affect Its Growth Strategy

TikTok is giving Facebook a serious run for its money in terms of promoting and rewarding content. The company has had an upshoot of users from 300 million in January 2019 to above 800 million in 2020, and the numbers keep rising. Yet, rising tensions between China and the Trump administration have seen multiple Chinese companies face the ax from the US market.

India is a middle-income economy with potentially hundreds of millions of new TikTok users. A ban on TikTok by the Indian government could potentially lock it out of billions in new revenue streams. ByteDance is the parent company of TikTok. As of late 2020, ByteDance is working out a deal with the US government to divest its operations through the purchase of its US shares by Microsoft.

With all these negative scenarios arising on TikTok’s horizon, it remains to be seen whether the brightness of its star could be curtailed.

  • Zoom: Will Its Bubble Eventually Burst?

Like Tik Tok, Zoom is another Chinese unicorn that stole the show in the latter part of the decade. The phenomenal growth of Zoom can largely be attributed to the pandemic. It remains to be seen whether the world will go back to the era of face-to-face meetings. Zoom is part of the Software-as-a-Service (SaaS) suite, and it already had price margins from premium clients before the pandemic. However, the increased numbers are mostly counted from the increased free tier of users.

Zoom’s skyrocketing valuation is based on this free tier. What is Zoom’s business model, and how can it grow into the valuation? Since diving into the econometrics of Zoom might be challenging, an expert essay writing service may assist you in achieving a 1st class with your paper.

  • Will the Gig and Remote Work Economies Stay?

The pandemic has opened up both employers and employees to the possibility of changing working models. If employees can work remotely and still maintain efficiency, there would be little need to invest heavily in operational resources such as office space. On the other hand, employees working remotely may have more time to pursue other passions provided time is adequately managed.

The remote and free-work economy is a plausible model for operation provided companies to maintain adequate control of their employees. This could be done, for example, through a CRM tool. It remains to be seen whether this modus operandi will shift post-pandemic.

The World Is Changing & So Is the Approach to Business

The world isn’t as it used to be anymore, and the state of affairs has changed. Peculiar margins and new actors are starting to arise. You can keep tabs on all these happening trends in business and other topics by signing up for our blog.

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