Times have indeed changed. Scientific innovations coupled with critical thinking have brought about disruptive change in every facet of our day-to day living and endeavors .Today we’ll be examining the 4 fastest growing industries in the world; their estimated value and why you need to be involved in at least one or all of them. It’s interesting to note that UGreat International is about the only MLM that includes a combination of these four sectors on its platform.
The four industries are: e-commerce, skin care business, health & wellness and home-based business.
1. E-COMMERCE: According to verifiable online reports, the 2019 retail e-commerce sales worldwide amounted to a whopping $3.53trn. More so, e-retail revenues are projected to grow to $6.54trn in 2022.Some notable e-commerce platform such as Amazon, EBay, AliExpress and Jumia have all made their vast fortunes from the e-commerce sector which provides the seamless convenience of shopping online from any location and having the items delivered to your doorstep. The coronavirus lockdown was a blessing in disguise as e-commerce platforms were bombarded with orders since people were unable to physically go out to buy items themselves. During the pandemic lockdown alone, Amazon made a monstrous $96.1bn as its 3rd quarter revenue. The e-commerce sector is still growing and highly profitable and it doesn’t require too much to set up especially on a small scale. There are thousands of e-commerce sites globally and this includes Nigeria and I must admit that when you consider the global population and that of Nigeria, these platforms are profiting, contributing to the economy and at the same time creating jobs.
2. SKIN CARE BUSINESS: The skin is the largest organ of the human body. We love our skin and want to always ensure it is healthy by exercising and eating right. Most people especially women will stop at nothing to ensure they have fresh, radiant and glowing skin. The global skin care industry which comprises the manufacture of bathing soaps and body creams has over the past 5 decades, churned out profits in billions of dollars. Amid the Covid-19 crisis alone, the global market for cosmetic skin care is estimated at $145.3bn and is projected to reach $185.5bn by 2027.The value-chain in this sector cannot be overemphasized not forgetting the immense value/supply chain and the millions of jobs this sector produces.
3. HEALTH& WELLNESS: With the potpourri of available information and data concerning health and wellness, people all over the world are now aware of what to do (i.e. exercise & eat healthy) and things to avoid in order to stay healthy ,fit and for longevity purposes. This sector is indeed one that is promising by every available standard. The Global Wellness institute posits that this sector is presently worth $4.2trn and keeps growing by an impressive 12.8% between 2015 and 2017.Suffice to say this also represents 5.3% of global economic output.
4. HOME BASED BUSISNESS: A home based business is any enterprise whereby the admistrative and managerial activities take place within an individual’s personal residence. Home based business have become a significant trend over the years and even grew more during the pandemic. Some examples of home based business are network marketing, consulting, advertising, photography, graphic designs, chef services, real estate agency, confectionaries making, web development, free-lance writing services and lots of others. The Houston Business Journal reports that home-based businesses create more than 8,000 new jobs each day and generate nearly $400bn in annual revenues. It might interest you to know that notable world –class companies like Nike, Dominos Pizza, Estee Lauder and Hallmark all started off as home-based businesses. In this part of the world, we call it the ‘’side hustle’’. Dear friend, it’s beyond that… It’s a money spinner if only you are committed and hardworking enough to take it to the next level.
Are you involved in one or all the mentioned sectors? If you aren’t involved in any of them, be wise enough to make hay while the sun shines by joining UGreat which I earlier said is a combination of these 4 sectors. Consequently, as long as the sun continues to rise and set, these sectors will always remain evergreen and relevant by providing services and generating revenue.