- Nov 05, 2020
The sudden pandemic, COVID-19, has had an unprecedented effect on human life, healthcare, global economy, and people’s basic lifestyle. It has altered the way the world functioned. This abrupt shift in human life has changed the behavior of us as clients also. We no longer perceive things from the same perspective. This can be seen in the way businesses have sharply fallen. We hope these behavioral changes are short-term and do not turn into a long-term crisis. As countless business models have collapsed, we hope it comes to “old normal” in years to come.
Not to forget, as we expect, the business will gear up and revive post-COVID-19. Fortunately, there are some industries that are breathing their lives even during the pandemic and sustaining the economy somehow.
Let us talk in detail about the businesses that may emerge post-COVID-19 and add relief to the existing crisis.
Businesses to emerge post pandemic of Covid-19
Image Source: https://blog.payoneer.com/e-sellers/trending/business-opportunities-covid19/
1. Telehealth & Telemedicine:
Let’s begin with the need of the hour, telehealth. The concept of offering medical assistance from a distance is an excellent solution for such times of crisis. Telemedicine has made lives easier for patients as well as healthcare professionals. The patients can seek care from their homes and not overcrowd the healthcare centers. Even for the ones who reside in remote locations, telemedicine is one suitable alternate. A new report claims that about 40 percent spike of telemedicine users has been witnessed in the US ever since December 2019.
From the customer services, medical consultation, health support, ease of keeping records, telemedicine has taken over the role responsibly. As we witness a growing demand for telemedicine in times of COVID-19, we are pretty sure to see even bigger demand post-pandemic. The rest depends on the quality of services these healthcare centers provide from miles apart. Healthcare industry has seen sudden fall in marketing results as well. Not to forget, telemedicine is budget-friendly and abides by social-distancing to keep the audience demanding it further.
2. Education Industry (Online):
Educational institutes have recently shown interest in adopting e-learning or online teaching for children. The post-pandemic world of education will be more digital than physical teaching. This shift will increase the comfort for teachers as well as students and will reduce the traditional methods of learning. With the sharp demand for learning management software (LMS), we will witness better educational opportunities for students. The AI-supported tools will smoothen the workflow for teachers, such as attendance and report card making. The performance and intelligence of students will be better scaled. The future of the education system is definitely more digitalized and productive as we perceive.
3. E-Commerce Industry:
The tendency to run to a mall for buying commodities will also see a shift. A newer demand for e-Commerce will boom the market as a profound method to distance oneself socially.
Image Source: https://tech.economictimes.indiatimes.com/news/internet/e-comm-sales-volumes-back-at-pre-covid-19-levels/76500257
In a recent report, it is found that online grocery sales are suspected to spike by 110 percent. The consumer needs will see a push in demand through online shopping. This will automatically increase the employment for customer support, time management, and a more stabilized method of delivering orders to customers. It will also save time for retailers on entertaining customers and overcrowd the stores.
4. Delivery and Courier Industry:
As the e-commerce industry will spike, so will the delivery and courier sector. COVID-19 has paved new opportunities for the warehouse sector to store goods and services and deliver them to people. This seems to be one hygienic and organized mode of delivery services. The delivery sector isn’t confined to clothing. Instead, it is for every basic need of human life, such as food delivery, medicines, grocery, water, household good, and much more. With the help of delivering agents, you can even send a parcel across cities or localities as and when wanted.
5. Insurance Industry:
Recently, a report by Forbes suggested that about 35 to 50 percent increase was seen in companies’ sales of insurance policies with the help of insurance applications. The insurance companies are soon to witness even more enormous demand due to the constant fear in people of losing their jobs, life, or even businesses.
These insurance firms are changing their work models and opting for digitalization to offer the best services to the clients at their homes. These are cloud-enabled platforms that will bring convenient services to customers.
6. Gaming Industry:
In times of COVID-19 and post-pandemic, we are certain about the gaming industry’s consistently growing demand. As most people are staying indoor, interest in games has seen a spike in comparison to previous years. The gaming models have also improved on the basis of customer choice. People can now indulge in playing games on mobiles as well as cloud-based platforms. This lets users stream games smoothly and not pay too much money for it.
Image Source: https://www.weforum.org/agenda/2020/05/covid-19-taking-gaming-and-esports-next-level/
The gaming industry has widened the horizons of generating revenue for many entrepreneurs. With the help of the seamless streaming of games, the entertainment sector is undoubtedly going to see a rise in demand.
7. Fitness Industry:
The pandemic has changed the way fitness was perceived. Earlier, people enjoyed fitness as leisure, but now it’s taken seriously for safeguarding oneself from such viruses. The fitness industry has evolved its functioning and offers online videos or sessions for people. Instructors manage these classes, and trainers set modules for people according to their health needs.
Concluding Note:
The pandemic has created a deep impact on people’s minds and has sure behavior changed to see. However, with time we hope the impact will reduce and bring in better opportunities for entrepreneurs after the virus leaves. By considering the need of the hour, people are beginning to make alterations and adopt newer techniques to retain their ventures.
