Online Trends set to shake up Hungary’s Business Sector in 2020

Over the last couple of years, most debates about which industries will propel Hungary to the future have revolved around a few innovations: Internet of Things, VR, cloud computing, and AI. Gladly, more technologies and business trends have come up, and looking forward to 2020, below are some of the industries to watch.

Mobile Commerce

With more and more people buying smartphones in Hungary, the e-commerce sector will continue to thrive. But unlike the past, mobile shoppers will be the primary drivers of the industry in the next several years.

The best part of mobile commerce is that it’s also enhancing the brick and mortar industry. Banking apps like Apple Pay, Google Pay, and contactless payment methods all have a place in Hungary’s brick and mortar sector, from restaurants to banks, transportation to retail.

When it comes to online shopping, using mobile devices is Hungarians’ favorite way to buy items online. Phones are more portable, and hence easier to access. It’s fast to order items online, and there’s no drawback to using your mobile device, anyway.

Mobile Gaming

Mobile gaming is a multi-billion industry that employs millions of people each year. Despite that, it’s still underrated, and it’s rarely viewed as a disruptive sector. Surprisingly, it’s also incredibly popular in Hungary, with more than 50% of adults admitting to playing games on their mobile devices.

There are valid reasons to believe mobile gaming will continue to disrupt the gaming sector in 2020. For starters, some of the biggest video game developers are now investing in mobile games. From Konami to Epic Games, Valve to Electronic Arts, nearly all brand name developers are venturing the mobile gaming market.

The continued growth of online gambling in Europe, South America, and the US has also boosted the mobile gaming sector tremendously. Gambling is also gaining popularity in America’s northern neighbors. And as a result, these casino sites all work in Canada. They are licensed and reputable, and most welcome new players with bonuses.

Personal Brands

Influencer marketing was all the rage in 2019. Experts believe businesses will continue to partner with famous people to market their products in 2020 and beyond. So, what is it about celebrities that make them relevant in the business world?

Although a debatable topic, scientists believe there’s a psychological aspect of people listening to people they deem influential. It doesn’t matter the influencers are only famous on Instagram. If they have hundreds of thousands of followers, there will be people who look up to them for influence.

In many cases, businesses pay influencers commissions for products they help sell. And depending on how famous the celebrity is, they can receive up to 50% of the money brands collect.

Content Marketing

Ask any successful online entrepreneur the secrets to their success, and chances are they will mention content marketing. Bill Gates’ timeless message ‘content is king’ is still relevant today, and it will continue to be important in 2020 and beyond.

But as technology changes how online businesses market their products, marketing won’t always remain the same. For example, there’s an increasing reliance on AI content spinners these days. They are frowned upon, but there plenty of online businesses that seldom publish articles created by humans.

Video marketing and influencer marketing, as we had mentioned, are also changing how businesses promote their products. Even companies that deal with nothing related to videos have been finding creative ways to share their stories on YouTube and Vimeo.

Some sectors, specifically online casinos, prefer to use bonuses as their focal point.  Still, they invest heavily in content marketing, with most of them running in-house blogs and social media accounts. They use these platforms to promote their games, and more so, bonuses. But thanks to independent review sites, you can find all welcome bonuses in one place. Review sites compare bonuses from multiple gambling sites, which help expand your options.

 Blockchain Independent from Crypto

Investors who said Bitcoin was overhyped when it exploded in popularity in 2017 were probably right. The virtual currency hasn’t been the same since January 2018. And while there are numerous alternative currencies (altcoins) that could topple Bitcoin’s dominance in the future, blockchain will be the focus in 2020.

For the uninitiated, blockchain is the underlying technology in Bitcoin. It’s the decentralized, hack-proof system that’s responsible for crypto’s success in the last decade. And thanks to its role in the Bitcoin industry, Amazon, Microsoft, Google, and Facebook all want a piece of it.

There are numerous use cases in the world, so it will be interesting to find out what is created out of the blockchain in 2020 besides payments.

Online casinos are already developing online games built using the technology. Restaurants want to use it to enhance food safety, protect intellectual property, and to enhance the medical sector.

 Online Tutoring

Online education isn’t exactly a new phenomenon. But for the last several years, it’s been resurging pretty fast, from Hungary to the US, China to South Africa. The demand for new skills, the gig economy, and immigration are all plausible reasons why everyone wants to learn online.

In China, for example, sites that teach English classes are exceedingly popular. In North America, online coding schools and gig sites like Fiverr.com and Upwork.com are ever recording new members.

In Hungary, colleges and universities lead the way in teaching locals and foreigners multiple subjects online.

Will online education ever replace traditional classrooms? Not yet, at least not in 2020. But if people continue to rely on the Internet for education, there could come a time when the majority of Hungary, and the world at large, will graduate online.

The Takeaway

All signs show 2020 will be an excellent year for online businesses.

Mobile businesses will steer the e-commerce sector ahead. Mobile gaming could transform the gaming sector, while online schools will continue to empower millions of learners throughout the world.

For many online businesses to succeed, they will need to invest in content marketing and keep tabs with trends. They might require some bit of investor marketing or even tapping on the blockchain.