In 2020, investors in UK markets have been stuck between a rock and a hard place in terms of where they can put their money. With Brexit talks still under way and coronavirus measures becoming restrictive, picking stocks in these times has become more and more difficult. The FTSE 100 has now hit a six-month low under 5,800, even though the UK is coming closer to a trade deal for Brexit. Confusion has taken over the markets, with many stocks suffering.
Where I’m bullish
Ecommerce has changed the way we live, where we can easily buy what we want when we want. Companies like Amazon, Shopify and eBay have all been needed by the public during these confusing times. And this has shown where share value in all companies has seen great growth over 2020. New coronavirus measures mean that we need Ecommerce more now than ever with social distancing in place.
Research shows that the Ecommerce market can grow to $6.542 trillion by 2023. This makes sense as 1.92 billion people purchased goods online in 2019 alone. The more restrictive the coronavirus measures become, the more we need Ecommerce.
Artificial intelligence is another industry that has strong prospects for growth. This is because we use it more every day. The most used social media platforms all have artificial intelligence implemented in their models. Companies such as Instagram and Facebook use AI models to give the user content suited to what they want to see. This is another industry I am confident will see amazing growth over the coming years. With a market value of $39.9 billion in 2019 and growing rapidly, artificial intelligence is something that is going to be used more and more by us.
A stock to take advantage of growing markets
Attraqt (LSE: ATQT) is a company based in the UK using AI algorithms for online retail firms in ecommerce. It creates Ecommerce solutions for businesses looking to get ahead in the competitive growing market. Its platform is used by businesses to create a customer friendly experience for their users. AI used in its platform creates a personalised experience for shoppers, meaning customers see the things they want. By taking advantage of the rapidly growing AI and Ecommerce markets, Attraqt is definitely a stock to watch in the future.
Where is the growth potential?
Attraqt has a professional team of developers, merchandisers and data scientists creating the platform. Taking a look at its finances, revenue has increased by 13.3% and gross profit by 22.1% from 2018 to 2019. In addition to this, total assets increased by 65.5% in the same year, showing a strong performance for such a new publicly listed company.
Attraqt currently has partnerships with companies such as IBM and Shopify, and does business with known brands such as Boohoo, Asos and more than 300 others. With virus measures getting stricter online, retail seems to be only growing, showing how Attraqt’s solutions can be adopted by many more companies in the future as retail is moved more online.