2020 has been a year of drastic change. The world we used to live in as recently as February is not the same one we all inhabit today.
As such, it's (in my opinion) one of the hardest years in modern times to navigate in terms of building an investment portfolio of ASX shares. We still don't know the full extent of the economic damage that the coronavirus will inflict upon our economy.
So with that said, here are 2 themes that I think will emerge as permanent changes to how our society operates from this crisis – and how you can invest accordingly.
A cashless society
Cash was already falling in use as a payment method, but this coronavirus crisis is likely to accelerate the trend in a big way. Paying with cash is now discouraged or even banned in many stores for hygienic reasons. As such, those groups of people (such as older Australians) that still used to use cash are now being forced to use their debit or credit cards more.
How many stores will be rushing to accept cash again in the future? Not too many, I'd wager. And how many people will rush back to using cash when the crisis is over? Same answer.
As such, I think investing in the pioneers and purveyors of electronic payments could be a winner in 2020. I'm looking at buy now, pay later shares like Afterpay Ltd (ASX: APT) and Zip Co Ltd (ASX: Z1P) myself. Pushpay Holdings Ltd (ASX: PPH) could be another one to watch.
Working from home
Millions of Australians have been forced to work from home over the last few months, many for the first time ever. After the crisis is over, many might actually find it to their liking. With no commute, no parking hassles, the ability to wear pyjamas at work and the freedom to blast Fleetwood Mac during business hours, many Aussie employers and employees might find they're 'never going back again'.
As such, I think companies that cater to the needs of the 'working from home' could be long-term beneficiaries of this trend.
So, hardware/software companies like Dicker Data Ltd (ASX: DDR) or home office supply companies like Officeworks – owned by Wesfarmers Ltd (ASX: WES) might be worth considering for an investment.
Foolish takeaway
Investing always works best when you think about tomorrow as well as today. Thus, I think these 2 trends give us a path we can follow for future success. Things may not turn out exactly how I'm imagining today, but I still think they're a good start!
