Startup ideas come and go, almost as quickly as the entities themselves. Without an investment in appropriate research they are doomed for failure. However, if the value of buying behavior trends is understood, these trends can shape entrepreneurial goals.
Whether the goal is to open a traditional brick & mortar storefront, or dive right into an online presence, knowing which industries are doing better in each category could help budding entrepreneurs hone in on a product line that will best suit their visions of success.
Study Shows Online Shopping on the Rise
Although the research provided by the PWC Total Retail Survey indicates that physical locations are still doing more business than their online competitors, it also revealed that the preference for shopping online has been steadily increasing. In fact, the grocery industry has seen a 312% increase in people doing some of their grocery shopping online.
Therefore, if the dream has always been to open a traditional storefront, don’t squash it, these entities are still doing exceptionally well according to the study. So, take the information gleaned from it to move your startup dreams closer to the stars you’ve been reaching for.
The infographic below, courtesy of chargebacks911.com, helps determine which industry is on the best path for your entrepreneurial endeavors and go for it.
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