With everything happening around the world, most businesses have been paused due to the ongoing outbreak. While COVID-19 has forced us to adapt and change our ways of living — home quarantines and the lockdown has undoubtedly made it a challenge for economies to flourish like they used to. Also, businesses and business trends shifted to something considered as “new” normal.
It may have resulted in mixed outcomes towards different industries; however, the pandemic has made a massive dent in the world’s economy, resulting in a significant number of layoffs.
Conversely, businesses, whether big or small, have either thrived to stray away from the brink of bankruptcy and tried different strategies and approaches on how to keep operating in order to stay afloat.
In this light, these six trends are likely to be permanent even after COVID 19:
1. Online Shopping
Ordering and shopping online aren’t new to the public. In fact, the e-commerce industry is going nowhere but up. Currently, the mass production of numerous products on the market have doubled due to rising demands.
An example of this is retail stores. Because people cannot go outside due to provisions and protocols, they have to rely on online shopping to tend to their basic necessities.
Even so, some businesses are already equipped and capable of extending their services and products online; some, on the other side of the coin, do not.
On the bright side, due to the unexpected impact of the virus, business owners now realize the vital role of adapting and pivoting their businesses towards the e-commerce arena. Most positively, after COVID-19, most companies will come to these terms.
2. Online Medical Assistance
Scheduling appointments with your doctor has been available even before the pandemic. However, online consultation wasn’t practiced.
Due to the health risks COVID-19 posses, it isn’t ideal to have a face to face consultation with your doctor.
While it is better to have a real doctor physically check on your injuries or sickness, there is much valuable information online that can help you apply first aid or remedies for your illness. People have resorted to this type of method to treat their ailments. On the downside, self-diagnosing might only cause more harm to your well-being.
Nevertheless, because of the pandemic flipping the world upside down, Telemedicine, or online help from medical professionals are now readily available, as not all consultations must be done in person. This type of service will inevitably alter the whole health care system by cutting down costs on insurance, utilities, etc.
3. Home Employment
Today, numerous companies have already been practicing this method even before the virus elevated on a global scale. On the contrary, some companies cannot apply the concept of working from home due to the nature of their businesses. Despite this, most companies have well-adjusted, thanks to Zoom, Facetime, Slack, and other applications.
Business analysts are now saying that companies will most likely embrace the concept of remote workers once the virus settles down. Data from Microsoft has shown an increase of 44 million users in teams apps in just one week.
Also, companies will be able to decrease their expenses on rent. Businesses who are considering this notion will not only gain better financial health but promote health and hygiene at the same time.
4. Increasing Production
In the previous years, companies and manufacturers have adhered to a method of keeping their production of supplies to a minimum. This was to keep waste and costs in control. However, due to the ongoing struggle the world is facing today, companies have to peg away from their minimum and must increase their production. The demand in the market for essential supplies such as food, sanitizers, toilet paper, cleaning agents, and other necessities have recently multiplied.
5. Traveling and Tours Will Adjust
The Tourism industry has been dramatically affected by the Coronavirus outbreak. And to this, many businesses have felt a significant decline concerning their progress.
Even if this pandemic dies down, people would still be on the fence about traveling. Two scenarios would likely happen:
The first scenario: people who will travel will probably choose locations closer from home and have more reservations when going to far-flung areas.
The second scenario: airlines and other businesses under the hospitality, travel, and tourism industry will have to offer flexible deals in terms of cancellation, rescheduling, and refunds when unfortunate events similar to this pandemic would happen again.
6. Cleaner Buildings and Infrastructure
The virus has shown us that not being keen about the surroundings and the things we touch does have consequences. Because of the current circumstances, various companies and establishments would have to apply new ways of being more hygienic when it comes to entering buildings and other places.
Businesses who implement strict cleanliness and go the extra mile to ensure their consumer’s safety will most likely be patronized. Installing air purifiers and integrating top-of-the-line sanitation and other precautionary measures in business areas would create more trust towards customers.
The Survival Of The Fittest
Consequently, businesses will now revolve and capitalize on their products and services through the internet. The whole pandemic has illustrated the value of the network, technology, and how important it is for your business to be flexible.
Expect that the business trends mentioned above will stay and will be an industry standard. Still, the success of a business, despite inevitable challenges, will solely depend on how well a company adapts.