Obsidian Market Update 1/8/21
Happy New Year, friends! We hope everyone had a safe, fun, and relaxing holiday time to end 2020 and that 2021 is starting well for you.
This week, we wanted to share some interesting information about projected 2021 trends in the economy, travel, and more. Then, we look at health trends and how they might be different in the coming year.
As the COVID-19 vaccine is rolling out across the world, many of us are looking forward to getting “back to normal.”
In many ways, we’re looking at the next normal in 2021. According to McKinsey & Company, this involves several industries. For instance, consumer confidence is on the rebound, which could mean a “revenge shopping” streak in some sectors. Unlike previous economic downturns, this one hit the service sector especially hard. Those industries with communal elements (restaurants, movie theaters) will probably see a lot of the bounce back money.
The travel industry is also going to look different than it has in years past. Leisure travel is on its way up, and business travel continues to lag as more and more companies realize they do not need to send their staff to locations all around the world and that business can be done more efficiently remotely in many cases. It’s typical for business travel to recover more slowly than leisure, and in this case, it might not reach 2018 levels again.
Part of the credit for this restructuring in business travel is thanks to another trend: entrepreneurship and digitization of everything from customer service to the supply chain. Disruption creates new growth opportunities, and many people are taking advantage. This trend could bode well for employment and economic activity as the recovery progresses.
For more interesting trend forecasting, check out this article.
January is, of course, the big moment for fitness goals every year. Will those be different in 2021?
It’s no surprise that the American College of Sports Medicine found that online training is the most significant exercise trend projected for 2021. People want to work out, and many still don’t feel safe going to the gym. Online training gives people the option to work out from their home to meet their fitness goals.
Along those lines, wearable technology is another big fitness trend, coming in at number two, as Apple and other smartwatches can track activity, heart rate, blood oxygen levels, blood pressure, and more. Wearables have been a top trend since 2016, and with more and more people getting creative with their workout plans, their place remains stable in 2021.
Ranking third on the list is bodyweight exercise–an inexpensive way to work out that requires no equipment nor space to store it and can even be easier on the joints than lifting weights.
Outdoor activities have also moved up the trends list, which should not come as a surprise. They are safer from a COVID perspective, and with many gyms closed, trainers are offering outdoor classes and excursions for clients.
Read the ACSM survey for the rest of the list of fitness trends. Regardless of which ones work for you, or if you’re more of a read a book with a cup of tea person, we hope that 2021 is a happy, healthy, and fulfilling year for you.
Past performance is no guarantee of future results. Securities offered through Triad Advisors, member FINRA/SIPC. Advisory Services offered through Obsidian Personal Planning Solutions, LLC. Obsidian Personal Planning Solutions, LLC, and Obsidian Personal Planning Solutions, Inc, are not affiliated with Triad Advisors.