Business Sectors That Are Likely to Flourish in the Post-COVID-19 Era – A Marcus Joseph Debaise Analysis
(Gloucestercitynews.net)(August 3, 2020)It is innate for people to evolve and adapt to changes that present themselves in the environment, therefore, the devastation brought by the coronavirus has played and is continuing to play a key role in the change happening in human behavior. In some industry sectors, the altered circumstances have created lucrative opportunities, which if taken advantage of, can prove to be advantageous in achieving exponential growth and profitability. Listed below are some examples of sectors that are expected to benefit due to the speculated post-COVID-19 new normal:
Online shopping has dramatically increased, as people are unable to shop due to the new physical regulations. While the Millennials had already adopted online shopping as their primary shopping method, older generations have been forced to become familiar with e-commerce as well. According to https://www.entrepreneur.com, the pandemic has played a significant role in the sudden influx of online shoppers. The fact that shopping online is a very convenient way of shopping, it is speculated that consumers will continue to utilize this method of shopping even after the pandemic is no longer a threat.
Wholesale Distribution Centers and Warehousing
One of the main requirements for a well functioning e-commerce business is a large space for warehouses as well as distribution centers. Typically, e-commerce businesses will require space for inventory and packing lines, so they utilize three times more industrial space than the typical B2B businesses. Marcus Joseph Debaise speculates that there will be an increase in demand for industrial real estate as many businesses have suffered due to a couple of factors including the disruption of the global supply chain and industries moving back to America as a result of the virus.
As there are an increasing number of businesses unable to operate at full capacity due to new social distancing standards, more and more companies are beginning to implement and promote working from home. This could result in greater pressure on the bandwidth supplied by the ISPs. Technologies including but not limited to the Internet of Things, augmented reality, virtual reality, video conferencing are also contributing to the demand for faster connectivity as an increasing number of people are preferring to do everything and more online.
Cloud Kitchens Will Rule, Observes Marcus Debaise
There are a plethora of restaurants that have been observed promoting the use of delivery rather than dining into their customers, even before the pandemic struck. The COVID-19 pandemic has effectively rendered the concept of dining in a restaurant obsolete. This pandemic has caused restaurants to seriously consider shifting their time and effort allotted towards dining-in to shifting their focus on improving their delivery service and approach. This has also opened up novel dining experiences such as customers can now choose items from multiple restaurants without stepping out of their homes.
While the pandemic has devastated the economy and has forced many businesses into unfortunate situations, it has also caused businesses to realize that they must quickly adapt to the changing demands. Multiple businesses in other sectors are already adapting to their customer's demands and have therefore placed themselves in a position to succeed after this COVID-19 pandemic.
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