No matter how well an industry is performing in the current market, there is always the possibility of a crash further down the line. The industries that are seen as essential in one decade can fall by the wayside in another— such are the rules of the open market.
Below are three industries that were once considered to be strong, reliable, and to have their place in society all sewn up, but who now face a tough future thanks to the relentless pace of change.
#1 – Retail
Retail still remains a powerful influence on the economy, but there’s no doubt that it’s creaking under the growing pressure from ecommerce. As people have become more and more comfortable with shopping online, standard physical retail stores are struggling to keep up.
#2 – Newspaper publishers
Newspapers once held a firm grip on society, influencing the political and social talking points of the day— but they’re dying. Between 2007 and 2016, the number of people working in newspaper publishing fell by almost 50%, and everyone knows what’s to blame: the internet. Anyone with an internet connection and a rudimentary understanding of WordPress can be a publisher, and there’s every chance the internet has defeated the newspaper industry for good.
#3 – Motorcycles
The motorcycle industry has never been large enough to compete with cars, but it’s always held its own, helped by the fact motorcycles are often seen as far “cooler” than cars. The problems facing the motorcycle industry are nevertheless concerning and in need of important solutions, an issue this infographic expands upon:
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