Retail And Sports Dominate Online Industry For 2014

November 13, 2014 1:05 pm

As we near the end of the year, the digital age has just continued to strengthen with the release of some of the most talked about technology to date. The iPhone 6 attracted controversy and criticism from people from all walks of life, most of whom noted its seeming ability to ‘bend’ in the pockets of skinny jeans wearers.

But 2014 was also a big year for the many growing online industries out there. While some of the following entries may be surprising, others have been showing potential for some years now – here are the biggest industries dominating the online world in 2014.

online retail

Online Photo Printing and E-cards

With environmental concerns making it into the forefront of everybody’s minds, there has been an exponential rise in the popularity of e-cards this year. This has largely been down to social media, for example, Facebook’s gift program has increased by 36 per cent since 2008, and is expected to grow by another 40 per cent in the next five years. Online and digital photography has also sky-rocketed, with business expected to grow by 28 per cent by 2018.

 

Online Payments

As more and more online transactions are being made electronically every day, it is important that customers can feel at ease with their credit card details being entered into an online form. This has given rise to many secure online payment systems, such as PayPal, which have proved particularly popular at online auction sites such as eBay, and more recently in online casinos, where transactions are being made every day.

 

Fantasy Sports

The 2014 FIFA World Cup drew in a flurry of online activity from sports fans around the world, whether they were streaming the games from their mobiles, placing a bet on their favourite teams or even putting together their own fantasy sports team. The latter was particularly popular this year and has now turned into a $1.2 billion industry, having grown by 240 per cent since 2003.

 

Furniture websites

In the last quarter of 2014, it has been reported that while retail sales have gone up, DIY and home improvements have gone down, reflecting the current state of the housing market. However, while high street stores like Homebase may be suffering, in the online world, furniture sales have risen at an alarming rate. With reduced prices and an even wider choice online, there is little wonder that the online furniture market is set to climb to a net worth of $7.5 billion by 2018.

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