How To Stay Ahead In The Changing Business World After Corona Pandemic
Often challenges and disasters offer opportunities and innovative business ideas. During the great recession, we saw the evolution of many innovative businesses like Airnb, Uber and instagram that were rooted in the principle of sharing businesses. The trend may repeat itself during this crisis time as well.
Covid – 19 has thrown in a fresh set of challenges in the form of social distancing and supply disruptions. Businesses need to adapt to the change in the air and the changing consumer behavior. What are the likely opportunities that may emerge once the pandemic ends? What are the changes that the existing businesses and start ups can expect?
Here are some of the ways how the world may change in the days ahead and how businesses can adapt to stay successful after the pandemic shock.
Local production will get a boost
We may see a lot of Made in USA products hitting the shelves and a shift from sourcing supplies from far away countries. Businesses may prefer production units and supply chains closer to home to ensure stable businesses operations and protect themselves against future disruptions. This would also enable them to save a lot of logistics expenses and warehousing costs. It can revitalize local markets and regionalized production units, which in turn will offer a lot of opportunities for local manufacturing facilities and sourcing platforms.
Remote work force
Many companies may think of placing a fraction of their employees to work remotely on a long term basis even after the pandemic ends. Remote employees will enable businesses to stay open even during social distancing mandate that could still be in force. It will also enable businesses to retain top talent while the team gets the flexibility to work from the comfort of their own homes, save on commute time and ensure more work time. With more members shifting to remote working, business owners might resort to equipment leasing and accessory add-ons to ensure steady communication and optimum productivity. handouts like custom work from kits will make a thoughtful way to keep the workforce well appreciated.
It means automation businesses and tech brands will have a lot of business opportunities coming their way.
Increased delivery and pickup
Many industries- not just restaurants may switch to delivery and pick up after the pandemic crisis. People will love to get their favorite products or services at their door steps while you retain your market share. Other than local restaurants and food delivery services, hardware stores, retailers and beauty products can all identify opportunities to boost sales with delivery and pick up services or tie up with third party delivery services to eliminate overheads.
Opportunities also exist for software companies and app developers in developing platforms that make it easy to order, deliver and track order status.
Customers are likely to prefer shopping options that limit or eliminate contact with other people and surfaces, which in turn could lead to many innovative solutions like robotics in retail shops. Options like automatic doors will be more common among all types of businesses. Contactless credit card machines where no manual input is necessary or robotic shopping assistance are all possibilities that can be explored. Innovative custom products like Printed Kooty Key Anti-Germ Utility Tools with Retractable Badge Holder will help your employees to avoid touch points when opening doors in supermarkets or use ATM machines and stay free from germs.
Ecommerce is booming
Ecommerce is likely to grow to an all time high post Covid-19 if the trends are any indication. It grew by 14% over a one-week span in March, which clearly shows how people have switched to the safe and secure option of online shopping to fulfill social distancing and stay-at-home mandates. Even senior citizens and rural shoppers who are new to online shopping may continue buying online considering the convenience that it offers.
Businesses can invest in making their websites more user- friendly and ensure a strong online presence to catch up with this trend. Companies can even set up specific shopping platforms to cater to different age groups and shopping needs or ensure parent-restricted access for minors.
Web designers, app developers and online marketing experts have a great business opportunity to exploit in the days ahead.
Less is more!
As people practice social distancing and staying away from crowd, large events and packed crowds will all become less common. Bars and night clubs should provide scattered seating arrangements and individual microphones for the performers to make it safe. Attendance is likely to be low at live concerts and sports events atleast till the shock waves of Covid- 19 settles down completely.
Businesses will have to adapt and innovate. Big screen events, game simulators may fill the slots to cater to the entertainment needs of people. Online concerts featuring top performers and online sports tournaments have commanded millions of views. Atleast for some time, sporting events might be held in empty stadiums and beamed live into the sports crowd.
Innovative minds will prevail. Concerts could be held in outdoor venues with dedicated seating and spacing. Sporting events like interactive fantasy games or online betting could be popular.
Technology companies in gaming software may have a lot of opportunities ahead.
Hygiene is the new buzz word
Hygiene may become a great factor for people while choosing shops post-pandemic. People will be more finicky as the pandemic taught us all to be extra clean and to be watchful for those invisible marauders lurking behind dirty surfaces.
Retailers, restaurants and other businesses that rely on foot traffic must take extra precautions to keep the stores clean and disinfected to enable their customers to shop with confidence.Keep custom hand sanitizer dispensers or wet wipes at the door and checkout lane to show that you care. Make frequent wipe-downs of the floors, railings, door knobs and common areas.
Businesses that manufacture, sanitizing products can expect a lot of opportunities. Janitorial companies can offer sanitization services to businesses.
Do It Yourself
As salons, tailors and home improvement stores are all closed due to lockdown, people have been trying to finehone their skills in getting all these essential tasks done. They have the time to stitch a dress or get their living rooms painted in a fresh coat. You can even grow organic vegetables at your backyard for your recipes and avoid a trip to the grocery store. DIY trends could outlast the pandemic as customers realize it saves them time and money and above all enhance their skills and ensure enjoyment in doing their own things in whatever little way they can!
Businesses can keep their customers engaged with their brand till they are ready to come back by offering products that come handy during DIY. For instance, a salon can sell DIY at-home hair dye kits while a landscape agency can promote home gardening kits and tips through videos or interactive online workshops. Custom multitools will make great promotional items for businesses to engage the DIY crowd. Your message will get a lot of attention and appreciation for sure.
Let’s be frank about it. The habits we are accustomed to are changing and a new business world is emerging- hopefully for the betterment of everyone. So, make sure to get ready to adapt to the changes to be part of a new world order.