With the emergence of Covid-19 and its related lockdowns, 2020 was an unprecedented year for the global economy. As the pandemic wore on, many products experienced a major shift in demand and sales. Here we’ll take a closer look at which items sold the most in 2020, including the reasons behind their success.
Introduction
The global economy experienced an unprecedented shift in 2020 as the world grappled with the many effects of the Covid-19 pandemic. Throughout the year, it became increasingly apparent that certain items were selling far better than others, as people adapted to changing circumstances. While some industries cratered, others blossomed, and here we’ll be looking at some of the top-selling items of the year.
To better understand which items sold the most in 2020, we’ll be examining their appeal and the circumstances which allowed them to remain popular.
Computers and Electronics
Perhaps unsurprisingly, some of the top-selling items of the year were computers and related electronics. With so much of life going virtual and people spending more time in front of their screens, demand for things like computers, monitors and webcams skyrocketed.
In addition, as companies shifted to teleworking, demand for higher-end computing equipment rose alongside it. Despite a pre-existing trend towards electric devices, their popularity was further accelerated by the pandemic. Much of this was due to a simple combination of convenience and necessity.
As people adjusted to the new reality of remote work and distance education, it became increasingly important to have a reliable computer, webcam and a clear monitor. As these items became essential components of everyday life, more people chose to purchase them in order to make their activities more manageable.
Video Games and Consoles
In addition to computers and electronics, video games and consoles were also amongst the top-selling items of the year. With the pandemic once again pushing people to stay inside, video games became a popular way of passing the time and staying connected with friends.
Not only did they provide a way of having fun while stuck indoors, they also became a way of engaging with the outside world. The popularity of console-gaming in particular surged in 2020. For many people, video games were a convenient way of getting an immersive and fun experience from the comfort of their own home.
Furthermore, Nintendo’s pioneering of the hybrid-console concept with the Switch allowed for gaming experiences to be versatile and portable, which added to its appeal.
Home-Exercise Equipment
Another major trend for 2020 was the rise in demand for home-exercise equipment. As traditional gyms and exercise-spaces closed up, people were forced to find alternate ways of staying active. This resulted in a widespread adoption of home-exercise equipment, including treadmills, stationary bikes and ellipticals.
This sudden demand can be attributed to a combination of necessity and opportunity. With no gym on hand, people had to resort to various DIY solutions in order to stay fit.
Furthermore, with gyms often closed, there was room for companies to capitalize on the opportunity. As a result, many new products and innovations were created which allowed people to get the workout they needed from their own home.
Sports and Outdoor Equipment
Though more traditional sports and outdoor activities had to be put on hold, there was still a high-demand for sports and outdoor equipment in 2020. This demand for sports and outdoor equipment can largely be attributed to a new appreciation for nature and the outdoors. Due to lockdowns and travel restrictions, many were unable to explore or take part in traditional activities.
This resulted in many people turning to outdoor sports as a way of making the best of the circumstances. Again, this demand provided an opportunity for companies to respond.
Many preexisting sports and outdoor companies reworked their products to better provide for people’s needs and wants. As a result, trends such as camping, hiking, mountain biking, and other recreational pursuits saw an influx of interest and an increase in demand for related sporting items.
Home Appliances and Furniture
Besides the above items, home appliances and furniture also sold well in 2020. As people spent more time in their homes, many sought to upgrade and buy additional items to better accommodate themselves and their families.
This includes home appliances, such as washers and dryers, refrigerators and microwaves, as well as furniture, such as desks and sofas. Similarly to the other items on this list, this demand can be attributed to people adapting to the times. With people staying inside, the need for home-living related items shot up, as people sought to make their surroundings more comfortable with quality items.
In addition, the pandemic saw an increase in DIY projects and renovations, widening the scope of what people were willing to purchase.
Summary and Conclusion
2020 was a year of unprecedented shifts in demand, with people all over the world turning to various products to better manage their lives. Some of the most popular items of the year included computers and electronics, video games and consoles, home-exercise equipment, sports and outdoor equipment, as well as home appliances and furniture. All of these items experienced a sharp rise in demand thanks to the pandemic, and companies had to quickly adapt in order to meet people’s needs.
Despite the unpromising circumstances of 2020, these items offered a valuable service which allowed people to make the most of their situations, and ultimately made them a success.