What are the Emerging Business Trends from COVID-19?
The world around us is changing every single day due to COVID-19. Cities are under self-quarantine, students are learning lessons from home, businesses are partially or fully closing up shop and setting up processes in-house, even animals are getting worried seeing their owners home every single day.
But just because the world is changing, doesn’t mean we all have to come to a screeching halt. Businesses can learn to adapt and conform in new ways to overcome these crazy happenings.
And that’s just what they’re doing. Take a look at some of the most popular adjustments business owners and presidents of companies are doing to stand tall through this pandemic below.
Business Concepts taking the stage during COVID
1. Physical activities are continuously moving in positive directions.
Instead of accepting defeat and ultimately declining, businesses that offer physical activities are finding ways to hang on and prosper. Activities that were traditionally done in person are now being converted to the internet in a reliable online format.
For example, dancing lessons are being offered online through social media platforms like FaceTime and Facebook Live. Virtual tours are being offered for the travelers of the world to sightsee straight from their couch. So much is happening to stay with the times.
2. Webinars are currently free for professionals to see.
COVID-19 may be forcing us to stay at home for 99.9% of the time, but we can reap the professional benefits. Right now is the perfect time to get into webinars, especially seeing as they are absolutely free.
If you’re looking to start making professional appearances, joining in and contributing to a good webinar is the best place to start.
3. Restaurants are now offering or continuing to offer pickup and delivery.
Restaurants that didn’t offer pickup and delivery before are now doing so, and restaurants that always did offer pickup and delivery are continuing to do it.
That means that restaurants need to make their menu more appealing digitally during these times. If they haven’t yet, they are now. A digital menu that speaks to our stomachs is the perfect way to ensure a good restaurant stays in business and exceeds sales expectations during COVID-19.
4. Cash flow is being monitored and altered accordingly.
Income is the most important aspect for businesses to constantly be aware of through this pandemic. That’s why some business owners are choosing to extend sales and discounts once this whole thing is all over.
For example, some businesses that aren’t entirely open or some businesses that are shut down for the time being are starting to offer up to 40% in discounts once they’re-open. That way customers can expect to return and expect to redeem their discounts at a later date.
5. All Businesses need to Communicate through COVID-19
Whether you’re a business currently practicing one of the above business concepts or not, one thing is for certain; you should be communicating with your customers and clientele as often as you can.
Not everyone owns a physical presence business. Not everyone is currently actively participating in webinars. Not everyone is the proud owner of a restaurant. And, not everyone is handing out discounts and deals for when this is all over.
But everyone should be sending out updates, email blasts, phone calls, or some sort of message through COVID-19. Let your in-house people and the people you’re selling your product, time, etc. to what’s going on. How are you handling the situation? What are the steps you’re currently taking and will be taking in the upcoming weeks? Keep them in the know. That’s the goal.