Marketing & Media trends
#BizTrends2022: Women take the reins in successfully growing trade sector
Macro-economically, Covid unavoidably brought volatility to the markets. But as a direct result of the circumstances we all experienced during lockdown, we saw so many new people gravitating towards online trading because of this volatility.
With volatility comes a lot of risk but conversely, also the potential to make huge profits.
The potential to make money online in our current reality is immense particularly because our industry relies exclusively on the markets being active, and in trading, everything is naturally happening all at once.
Global online trading now within reach of many
The availability of online trading services globally has not just propelled developing countries like India and South Africa to trade more than ever before, it has also driven more people in developed countries – like the European Union countries and the United States – to trade. There are valid socioeconomic reasons for this.
Lockdown severely limited scope in certain key industries, like travel and hospitality, among others. Job losses and diminished incomes left millions at loose ends as to how to generate income. And for some, this made online trading an attractive prospect, or even a last resort.
Cultural and contextual trends are always worth observing closely in any business. In the case of brave new entrants into the trading markets, we are seeing a much higher prevalence of people pushing themselves educationally.
Women flexing their entrepreneurial muscles
We have also come a long way since 10 to 15 years ago and that’s a result of broader interconnectedness. Mobile phones have shrunk the globe, bridging the gap and allowing people to trade anywhere, anytime. And in developing countries, where women are often the most disadvantaged, we are seeing an increased number of women realising that they can claim their independence by taking the initiative to educate themselves and flex their entrepreneurial muscles.
So, we have seen an influx of traders from all walks of life with varying needs and desires. And as they emerge, we’re seeing new microeconomic trends come to the fore. There has been much more of a push towards Bitcoin trading with other cryptocurrencies picking up at a rapid rate too. If our recent history is anything to go by, we’ll probably see this sector keep growing. As businesses in the trading arena, knowing our environment and demographics allows us to focus more on trends like these emanating from and impacting South Africa, Africa and the world.
Understanding the demographics and data we get back from our market – seeing who is trading what, and when – helps us develop material that our demographic can relate to, so we are able to develop appropriate educational services and market to them.
Staying relevant, staying on trend
There are many avenues that allow individuals to invest in and participate in the financial market, but to compete in that market, we have to stay relevant. Once we can ascertain what the picture of our ideal client is, we can customise our material to appeal specifically to their needs. Understanding needs is imperative.
Trends are everything – trending inwards, trending outwards – it all matters. What’s interesting in a recession is that it doesn’t mean money has disappeared, simply that it has been relocated to different places in the world. In the financial sector, to some degree, people are going to have to migrate to the markets that are doing well – say from commodities to stocks or forex to crypto.
There’s more than just one market to throw your hat into. We need to understand that money is being funnelled in different directions all the time and move with it. Anyone who knows that is in a very favourable position.