We are all aware of the COVID pandemic that has forced us to go indoors to avoid staying infected.
The bans imposed as part of the pandemic have drastically changed the way people do business. In particular, industries such as travel, finance, retail, etc. saw drastic effects on their business. Cinema has become a big miss these days. Bars, restaurants and many other restaurants.
For some companies it was an opportunity to rock the market while for others it was time to close their doors.
The consequences of COVID 19 will haunt us for even longer. So it is time to go digital to protect your business and your health.
Most startup enablers and entrepreneurs are looking for a strategy that will make their business profitable in this pandemic situation and survive with such deadly viruses in the future. If you are planning a startup, you need to check out the companies listed below that have been affected by the pandemic.
Unsurprisingly, the pandemic has created a demand for personal protective equipment that includes masks, PPE kits, disinfectants, and more. The graph below gives you a better idea of this growth.
Masks have become mandatory in almost all parts of the world. To contain the spread of COVID, it is important to wear a mask when leaving the house. Similarly, PSA kits that were used by doctors in the past have now become part of their routine. While a patient is being treated, there is a high chance they will contract the deadly virus. As a result, millions of PSA kits are used in healthcare every day.
The study says, “Even with widespread use of reusable masks, it is expected that the demand for disposable masks will be more than five times higher than other global pandemics like SARS or H1N1.”
Plus, when the economy shuts down, consumers made their way to the online platform to meet their needs. Let’s get to the companies that draw attention to the online industry.
Even with the effects of the COVID pandemic, fitness was a major concern for many people. Thanks to the virtual visits from doctors, this was a new way to keep fit in the locks. Be it through diet classes or following steps in the gym, fitness apps have played an important role in the lives of fitness freak people during the pandemic period.
Online telemedicine apps allow patients to consult and book appointments online. There are so many online telemedicine solutions out there that are making life easier for both doctors and patients. Some of them are real-time medicine, remote patient monitoring, store & forward medicine and so on.
If you are already in this field, going digital is very important to get users’ attention.
E-commerce had already entered people’s minds before the COVID. However, the pandemic has accelerated the transition for e-commerce sales even further. In June 2020, retail e-commerce had the highest monthly traffic in the world – i.e. 22 billion visits.
Governments have shut down traditional retailers so customers can buy essentials online. Retailers like Amazon, Instacart, eBay, etc. have reported massive sales during this time of the pandemic. The fact is, online sales continued to grow even after traditional retailers reopened.
Be it food, beverage, clothing, electronics or anything, online sales will continue to increase day by day. So if you are planning a startup or want to digitize your existing business, this is the ideal time to get started.
Due to social distancing and the fact that people are stuck at home, there has been a surge in grocery and grocery delivery services. Since restaurants are closed, people order groceries online from their favorite restaurant.
It was quite risky to go out for everyday necessities too often, so people switched to the online grocery platforms. Many online food delivery apps have also developed contactless delivery to help prevent the infection from spreading.
Overall, so many delivery services have teamed up with the supermarket to meet customer demands. Starting online delivery is one of the best ideas to pursue in the current situation. When the execution is perfect, the earliest time your startup will become popular with the people.
The closure of theaters has left a huge void in the entertainment industry. Many blockbusters are delayed due to this situation.
To keep people entertaining these blockbusters have been released in some of the most popular video streaming applications. As a result, platforms like Netflix, Amazon Prime, etc. saw their subscribers double surge.
In addition, the demand for OTT apps for publishing series and films is becoming increasingly popular these days. Therefore, it turns out to be a good startup idea to come onto the market with such an app that will also work in the long term.
Ergo, these were some business categories that saw an increase despite the COVID consequences. The pandemic has made these companies unexpected winners in the market and in the eyes of consumers.
For security reasons, schools and universities have been ordered to close for long periods of time. This led to them launching online courses for the students. It accelerated the use of digital learning platforms among institutions.
The learning apps and websites have seen a huge surge in traffic since the bans. In fact, e-learning has become a new normal for institutes. Even today, schools and institutes still teach and schedule the exams online, as most of the governments of the countries have ordered schools and colleges not to reopen.
If you are interested in this sector, building an educational platform where students and professors can interact is a lucrative idea.
Visiting a salon was one of the biggest risks of contracting the virus. According to Statista, around 66% of people are nervous about opting for offline beauty service.
Even so, the online economy has opened up so many new avenues for salon owners and startup enablers. As a result, many salons are creating an on-demand beauty app to reach customers on their doorstep.
Customers have already started to switch to the on-demand beauty app because it is more hygienic, offers individual attention, and saves time and money. In short, there are a ton of benefits to starting with an on-demand beauty service app. You can either start your own business or follow an aggregator model for your on-demand beauty service app.
The ashes from COVID are still dangerous in today’s scenario as we go through the second wave of the pandemic. Organizations need to revise strategies in ways that are effective now and in the future to combat such situations.
The new normals offer new opportunities for startups and entrepreneurs. It’s time to think differently to get the expected results. The future is still bleak for us, so developing a strategy that can deal with any situation is a key element in this day and age.
When the storm passes, we gather the same knowledge in order to recover and be ready to deal with such situations in the time to come. The situation we went through is similar. It’s time to come back to market with a strong and stable business that can handle any situation.
Develop your digital platform by learning about the current market trends in your corporate sector. This will help you reach maximum audience in a short amount of time.
Tip: “Always create a business plan before you start running your online platform development.”
I wish you the best of luck in your business!
Chris is the writer and journalist. He loves to delve deep into the specifics of the technologies. His goal is to share the knowledge by writing about the technical details of business, e-commerce, startup, enterprise IoT, AR, VR and other smart technologies. To describe him in one word, he is a writer focused on tomorrow’s world.