The recent pandemic has affected economically almost every sector of business. While the first reaction was panic and sense of uncertainty, we soon realised that new opportunities arise and we have discovered how useful some services and products can become in our daily life. Products like Microsoft Zoom where living in the shadow until now. Delivery services, e-shops and other online business have become essential for humanity in just 24 hours (where lock down happened).
While humanity is slowly recovering from the pandemic, business world has woken up in a new status quo. The status of future uncertainty, new possible pandemics, new economic disasters etc. The last pandemic has taught us that we shall never stand still and always be ready.
Businesses have now the opportunity to be prepared and develop for the future, offering better customer related services but also investing in new areas and fields. Businesses and entrepreneurs can now give more to society and people will be happy to support. What business ideas can entrepreneurs develop after COVID pandemic? How businesses can build their future and establish themselves in the new status quo?
If you are running an offline business, or was planning to invest in a new venture now is a great time to do so. Here is a list of few sectors that have a promising growth in the future.
Many kinds of businesses needed to find ways to reach their customer’s needs during the pandemic. Delivery solutions are becoming life saving for the customers not only during the pandemic but in their everyday life. Time is critical for most of the people and home delivery service is a huge advantage. Think how your business can deliver products to you customer making their lives easier.
Online courses and education.
Online courses and education programs existed before. The crisis has triggered an online boom for education industry. We realize that the future shows only this direction. Statistics show that education app downloads had an increase of 300% in March 2020.
Many institutions have shifted to online courses and examinations but also, are now launching online degrees. This business is expected to grow huge in the next 5 years and that is not only due to pandemic reasons. It’s because online courses and tutoring can be really convenient for both students and education professionals from different parts of the world.
Grocery apps have also scientifically increased during the COVID-19 period. People not only want to be less exposed at viruses but also find it important to stock up their home supplies.
Groceries are the most essential goods for survival and providing such conveniences as, door delivery, online ordering and payments will always be needed. This is expected to grow drastically in the next few years and grocery stores need to be ready and operating. In addition, third party grocery apps and websites are popping up, providing consumers more choices of products and prices.
Pharmaceutical businesses and services have an essential role to play during lockdowns but also at any time. People in quarantine and also those in sensitive groups find it difficult to reach medical store. People with major or minor medical issues need to secure that they have their supplies on time. That is where a solid medical supplies delivery business comes in.
Ecommerce and Marketplaces.
Online sales and marketplaces have been growing for the last decade and this will continue. More and more offline shops going online day by day in order to follow up the huge transformation. Younger generations find online shopping more convenient than traditional. More and more people from older generations are now more comfortable to online shopping and sharing their information online. It becoming clear that the future of Ecommerce is bright and will never stop.
Dropshipping has become the new online business trend allowing many entrepreneurs to develop businesses from home and deliver all over the world. These kinds of businesses are expected to increase dramatically. Platforms like Alibaba have created the environment for such businesses to start and grow. Online marketplaces will only multiply.
Gyms where locked down. People had the need to continue to exercise. Many people cannot live without exercise. For others, the lockdown period was a good time to start minding their health and go exercise. Fitness and wellness apps along with YouTube videos of instructors have become essential on our devices and many people have created the home exercise as their new routine.
The future of self-care and personal exercise sector promises tremendous online growth, form online training apps, yoga and meditation apps to an online personal trainer.
Many restaurants had to close down during the pandemic. Their only option in order to still operate was to keep the kitchen open and deliver to the customers door. The consumer was happy to stay home and have the goodies delivered to their doorstep.
Inevitably the food delivery service providers had to develop mechanisms to handle this huge demand but consumers realized how much more convenient their life could be, when for example putting an order from their mobile device and pay online. This new situation has put the consumer to be more open to this kind of easy and fast transactions. Food deliveries will only grow in the future and this service is expected to be the new normal.
Businesses, entrepreneurs and investors have a good after pandemic opportunity to adapt and reconsider their business model for the years to come. Transformation and adaptation are essential for the survival of businesses in the future. Be ready and be opened minded.