E-sports and Gaming Start-ups in Education

Many educational technology start-ups such as SplashLearn have included electronic games in their curriculum and teaching their courses in association with gaming. Additionally, with the increasing mastery in the segment, the education industry might soon provide esports degrees and certificate courses. This will rope in the best coaches, players, and gamers and form an extensive network of gamers, esports clubs and communities.

Increased Use of Mobile Devices

According to a report by BARC & Nielsen, mobile gaming users per week expanded to 68% during the lockdown phase from 60% in pre-COVID times. The time people spend playing mobile games each week has increased from 151 minutes before the pandemic to 218 minutes currently. With the bolstering popularity and widespread use of the internet, games have opened a new market that allows start-ups to enter the market through their products and entertaining gaming ventures.

Cloud Gaming

The successful development of Software as a Service (SaaS) and Platform-as-Service (PaaS) has led to the introduction of the Sport as a Service (GaaS) model. This model has the potential to transform the gaming industry. It is expected that the new trends will introduce much professional e-sports equipment via this industry model shortly. This service also allows players to play online on personal computers or mobile devices from anywhere.

Millennials – the Largest Demographic

Millennials and Generation Z are more actively involved in the development of the e-sports industry than anyone. According to Nielsen’s market research, 71% of gamers who regularly watch games on YouTube and other video-sharing programs are Millennials. This youth population includes the most active digital athletes with an average age of around 35 years. Analysts approximate that 2021 might be the year when gaming reaches an inflexion point as an entertainment medium.

As per different end-users, the market is divided into B2B and B2C. The dynamic growth drivers of the industry are the high internet penetration, the increasing number of smartphone users, the rise in online shopping prices, increase in demand, innovative technology and fast delivery services.

COVID-19 Outbreak Has Spurred the Growth of E-commerce and Logistics Industry

According to a report titled “E-commerce Trends Report 2020” released by Unicommerce, the total number of orders in India’s e-commerce industry has increased by 17% since the beginning of the COVID-19 outbreak. Clearly, the COVID-19 pandemic has contributed to the development of the logistics e-commerce industry. Due to increased demand, e-commerce participants are looking for alternative storage locations to improve business continuity and reduce delivery times.

As awareness about social distancing and COVID preventive measures is spreading, people, even in rural areas, are turning to online platforms more than ever. Further, extended lockdowns in several states have resulted in disrupting the supply chain. The logistics players in e-commerce are using options like contactless delivery to reduce the risk of infection and further increase the demand for online sales.

Corporate Training and e-learning During the COVID-19 Pandemic

To keep the show going, training and development professionals improved the corporate training scene in 2020. They leveraged the industry’s capabilities and functions to provide corporate training through online programs without the need for face-to-face communication.

The Advantages

In addition to social and physical restrictions, closures and quarantines to avoid the pandemic forced many companies to direct employees to work from home or remotely. E-modes of training and learning came in handy in this situation for in-house training, allowing employees to rely entirely on online lessons and ideas. Current learning and development strategies address the critical use of technology to maximize e-learning platforms’ use and enable accessible learning and communication methods.

The Challenges

In addition to strategic adjustments, 2020 was also a year that disrupted the traditional corporate training industry. As organizations did not have employees coming into the offices, the physical teacher-directed training became impossible for employers. In the LinkedIn Learning 2020 report on LinkedIn Workplace Learning, 49% of respondents said they did not have time to get the training while being remotely at work, and 94% said they benefited from it, yet they could not take it.

The main problem with remote work is that there is a lot of digital work and presence. Many companies have failed to adjust the new schedule to consider the actual additional screen time, the number of calls. The physical and psychological side effects of employee frustration with the pandemic and drastic changes are also majorly unaddressed. The pandemic has exhausted many companies’ resources, meaning that people are working longer and are naturally resistant to take on anything outside of their regular job projects.

However, many good learning and development professionals in the industry have taken advantage of this environment by implementing strict online part-time strategies. It has propelled some of the new trends and predictions that can be important for future corporate learning.

The top players in the market, including Adobe Inc., Cisco Systems Inc., City & Guilds Group, D2L Corp., Franklin Covey Co., GP Strategies Corp., John Wiley & Sons Inc., NIIT Ltd., Skillsoft Ltd., and Wilson Learning Worldwide Inc., are increasingly adopting and promoting new training models for the corporate world for a balanced workflow and boosted work ethic in the time of a pandemic.

Periodic Holiday Travellers

Periodic Holiday Travellers are one of the most sought after customer segments in the travel and hospitality industry. These customers are relatively indifferent to safety or budget, and even when they consider a new travel destination, the vacations and travel continue to happen regardless of the goal. Business’s existing strategies and motivations might still work to cater to these travellers’ needs, but new safe innovations can help them lead this segment better.

Health and Safety Conscious Travellers

This group of travellers has a bad rap for businesses and start-ups in the travel and hospitality sector. These current customers continue to spend on travel and accommodation but at a lower level. Impediments like long haul flights, traffic, reports of pollution at domestic or short-haul destinations, etc., deter these travellers from their journey and spending on travelling resources. If this segment does not feel encouraged and confident to resume travel at the pre-pandemic safety levels, their travel habits and consumption rate may decrease significantly, therefore hurting businesses.

The Expected Increase in Hardbound Travel Enthusiasts

This customer segment of the travel and hospitality market consists of customers expected to respond safely and continue their traditional travel and lodging methods. These reactivated customers had lapsed due to stringent safety protocols earlier but reverted to an imagined holiday experience in the face of lockdown conjecture. These travellers will also explore their options of travelling through new sources and businesses – come what may. Discounts, rewards, premium services and incentivisation on the business’s end can help renew loyalty well after the pandemic ends.

Renewed Criteria for Targeting Travel Sites

When selecting the accommodations, sights and destinations for the travellers’ itineraries, the marketing mix components are expected to be considered by travellers in a post COVID world. For the selection of hotel accommodations, the most relevant attributes that people might look at are the physical environment, price, safety and adherence to protocols, and people.

Multiple Purchase Options and a Premium Service

Today, as consumers have more choices, competition has intensified, and inter-sector coordination has transformed the vitality of businesses. Many retailers offer high-quality services such as Amazon Prime, Flipkart Plus and other exclusive retail services to remain competitive. This strategy can lead to higher profits and better control of production, branding, pricing and promotion. This trend gained momentum in 2020 as COVID-19 brought a fundamental shift in the way people shop online.

Rise of E-Commerce and the move away from Brick-and-mortar Stores

Even before the coronavirus pandemic outbreak, physical retail stores were transforming into more of a digital model. From 2010 to 2018, the retail industry witnessed a fall in retail spaces as more businesses moved into the digital market. Unsurprisingly, e-commerce continues to develop as traditional shops are changing. But, traditional retailers are not going away anytime soon. These stores still account for more than three-quarters of all retail stores. Although customers still look to local retailers to purchase products, the in-store experience is usually lower in purchase transactions. To fill this gap, people do their work online before buying by researching products and competitors.

Convenience is a new Critical Parameter

In 2021, consumers can choose retailers as they see fit more than ever before. Convenient and comfortable shopping environments are the main reason around 20% of India’s urban consumers use online shopping. The growing affinity for convenience is likely to outgrow the pandemic, as more consumers are willing to spend more money to shop in comfortable, safe and easy e-retail markets. Convenience today means contactless shopping, rapid and point-to-point deliveries. As the demand for mobile payments, app downloads, online shopping and in-store options increases, all of these trends will continue, helping retailers make their plans a success.

Healthy and Stable Consumer Choices in the Retail Sector

COVID-19 has radically changed the shopping habits associated with consumer health. In recent months, over 40% of consumers have increased their spending on hygiene products (hand sanitiser, medicines, etc.). Sales of organic and sustainable developments have also increased. However, as other options are not weighed in research, it is unclear whether consumers actually prefer particular health products or bought them simply because other options were out of stock. Whatever may be the reason, retailers and startups in the healthcare and products industry can seize this opportunity, as consumer interest in healthcare products will last for years.

Mobile Shopping and Targeted Retail Navigation

Smartphones have become almost ubiquitous in today’s information-dependent world. People’s first introduction to a product could very well be on their phone due to the regular flow of data streaming into the device in their pocket. Still, most do not finalise a business on this medium.  The mobile device is basically becoming the mouse to the physical world. It is an excellent possibility to reach consumers through local mobile ads when they are already out and about.  Many labels have already adopted this technique.  These mobile ads can hyper-localise your retailers’ reach, as customers near a retailer’s location will be presented with advertisements directing them to the retailer near-by.

Tech Retail Start-ups – Shoopy is making waves

In the first round of funding, retail start-up Shoopy raised $250,000 from Campanile Investments and Delhi-based investment firm Redcliffe Capital. Shoopy uses existing resources to accelerate a business’ growth. Shoopy is a multilingual application that allows local marketers and business owners to connect easily. It effectively manages invoices, inventory levels and other aspects of the business. Shoppy competes with e-commerce giants to help small and medium-sized enterprises (SMEs, MSMEs) develop digital infrastructure. 

Development possibilities have pumped considerable sums in the travel and hospitality industry

Such staggering numbers reflect good prospects for the industry. India’s travel, tourism and hospitality industry has attracted many new investors and venture capitalists for reconstruction and development.

The infrastructure development industry has invested in destinations, tourism, resorts, hotels, etc. The main emerging areas as investment points include rural areas, adventure, pilgrimage and other special facilities. A sustainable tourism model will be achieved only with strategic investments in start-ups and businesses. 

With the advent of technology, industry ancillary functions such as travel agencies, taxi services and recreational facilities have also improved. As the trillion-dollar global hotel and travel market grows, entrepreneurs are also increasing and defining the opportunity to live up to the expectations.

The venture capital community is still focused on travel and hospitality. Silicon Valley giants such as Airbnb and Kayak have invested heavily in Indian start-ups and the travel and hospitality industries. MakeMyTrip Limited recently announced that the value of its highly converted bond has risen to $200 Million.

Although the tourism industry is cyclical, its trade flow has been solid and steady over the last decade. High-level financing cycles are emerging in various sub-sectors of the travel and hospitality industry, including booking and business markets, short-term rentals, travel platforms and hotels.

The companies continue to raise hundreds of billions of dollars in funding. Oyo, India’s most successful hotel chain, has emerged as the most valuable Indian start-up in recent years. Oyo is backed by VC groups like SoftBank Group, Didi Chuxing, Greenoaks Capital, Sequoia India, Lightspeed India, Hero Enterprise, Airbnb and China Lodging Group. The company is currently valued at $10 billion.

New Face of Education and Training in India: Trends and Forecasts

A hybrid model of collaboration between start-ups and educational institutions

With the development of India’s educational technology sector, online education has become increasingly important in the cooperation policy of the Indian government. There are essential plans for collaboration between emerging and traditional institutions to access e-learning in different ways through central government like E-Vidya.

To meet the challenges of educational technology programs, many start-ups such as Toppr, upGrad, and Goprep have provided technical assistance to universities. Although e-learning focuses on the needs of primary, secondary education and higher education, given a large number of platforms for primary and secondary education in India, higher education and university courses will be a top priority in the coming years.

According to Finance Minister Nirmala Sitharaman, the Indian government have permitted the 100 best Indian universities to start automated online courses in 2020-2021. The University of Delhi launched its digital design on March 16, 2020, and is now based on the Google, Zoom video conferencing options and other features to deliver online courses to students.

Significant increase in online courses

Start-ups like Coursera and upGrad focus on compulsory education courses and help them integrate into traditional educational segments. For example, upGrad Live provides free services to all schools, colleges, educational institutions, non-governmental organisations, and government agencies for online exams and courses. So far, the company has organised over 50 classes and has enrolled over 45,000 students in India.

Coursera enables universities to provide students with access to more than 3,800 courses and 400 undergraduate majors listed on the platform. More than 6,000 applications have been received from Symbiosis Institute of Technology, World University of Design, BML Munjal University, National Rail and Transportation Institute, and NMAM Institute of Technology, and many others.

Mobile learning

The type of knowledge led by the traditional F2F (face to face) courses is changing its focus as per the new digital environment. Universities that required a low level of online activity in all systems now need a robust digital infrastructure through tools like websites, video-classes, and mobile applications to ensure students’ educational well-being. This trend is unlikely to disappear anytime soon, so the key to boosting the vast digital learning experience is in reconstructing F2F training in digital modes.

Faculty upskilling towards e-learning transformations

Start-ups offer online learning and teaching skills to universities, schools and other educational institutions where the need for support exceeds the inherent ability to transform online teaching experiences. Indian start-ups have already invested heavily in building their technology platform, hired teachers and integrated many students to boost the learning experience.

Edtech start-ups are working to create primary education and training services with traditional institutions. Whether it’s group training, individual problem-solving, or long-term support in planning learning, start-ups like Bada Business, Byju’s, and Unacademy help deliver quality resources and skills. They are helping to maintain student satisfaction, upskill teams and get courses online quickly, without compromising on quality.

Education and Training: Electronic Digital Assessment

Student assessment is an essential area of the education and training curriculum. The success of training depends mainly on the type of performance evaluation. Traditionally, student assessment has focused on theoretical tests where students are analysed based on theoretical knowledge.

But with digital assessment tools, students’ theoretical or descriptive answers in exams will be evaluated by technological tools in guidance of examiners. The success or failure in an exam will depend on understanding the principle rather than just churning out the paper’s rote information.

Personal Assessment and Analysis using Artificial Intelligence (AI) 

Using an AI-based online testing system, new tech-start-ups are creating a personalised estimate of students’ grades. The current AI-based system’s technology provides useful functions for online exams, and it also offers valuable information on student performance, group analysis, and individual analysis of each subject.

In the coming years, artificial intelligence and education will receive more ideas and applications. Artificial intelligence facilitates detailed analysis of students’ test results. Through the evaluation of psychological tests, it is possible to develop artificial intelligence to analyse a candidate’s response.

Beauty, Health and Wellness Industry: Forecast

Continuance of Virtual fitness

Online mental health support

Virtual shopping/ ‘try-ons’ apps before buying any beauty product

Smart Air Purifiers are not new but we can expect the purifiers with smart connectivity technology in 2021 and beyond

Change in shopping experience with a concept of ‘Touchless beauty’ to ensure sales and hygienic in-store environment

Emergence of ‘Compostable Couture’ to mitigate global waste produced by the fashion industry

Focus on ‘Eat Fresh and Eat Local’ with a focus on the nutritional value of the product they shall be consuming

Expect more compact self-care product sets in the market and continuance of DIY

Evidence back approach to immune health products and supplements with metabolic health, microbiome and personalised nutrition

What’s in it for me?

The beauty, health and wellness industry will remain attractive and profitable as big brands have found way-outs to connect with the consumer and provide most of the services online. A significant shift to online services may result in a long term change to consumer behaviour and channel sales for personal care and beauty products as more customers continue to consume online.

The digitisation in the beauty, health and wellness industry has just enhanced the future business prospects for the e-commerce sector. Start-ups or small business owners looking out to take a plunge in the beauty, health and wellness sector shall take note of the prevailing key trends and future trends. And must create a plan that can be reviewed periodically. With a safe, reliable, good quality and unique product, you can take your business to the next level. Try variation in your products, identify and approach new target audiences.

Once you have an established business, your goodwill in the market will be the deciding factor and customer loyalty. Stay updated with the latest technology and product requirement in the market. Innovation in technology and research of better products and services in the sector will ensure business survival.