A Resurgence after a Crisis
Updated: Apr 20
Despite the upheaval of the last few months around the world, there's a growing optimism in the community of a resurgence in consumer confidence. Some optimism are being claimed that businesses will surge once the lockdown is slowly removed or COVID-19 being slowly eradicated. The market it seems has taken a Big break and allowed for a correction to occur.
The travel and hospitality industries are the hardest hit by the CoronaVirus Pandemic (COVID-19) and will possibly be the last to recover from this pandemic.
Most countries around the world has made an effort to combat the spread of the virus by limiting physical and social interaction. Introducing social distancing laws and directed the majority of the population to stay at home if they are not employed as part of any essential service or frontline employees.
These measures had such an impact on most businesses around the world. Many businesses have been forced to close or limit their services altogether. But the few who altered and changed the way they do business are finding some hope in all the chaos. Amid the storm, a new market is emerging.
The few businesses or industries to find safe haven in this crises are technology service providers, brewers, delivery and logistics, Home Services, Primary Producers, Education and Health Services. These industries are deemed essential services and demands for these are increasing as we move on from day to day lockdown. Some few others are adjusting and making alterations to how they provide their service.
In the months to come post-pandemic, a different market will begin to evolve. One that would survive all types of disasters and crisis. Industries will plan their processes and business models should another crisis comes along. The key to all this is to create a business that are resilient, adaptable and most importantly being supported by a community that will stand steadfast. Community support that will focus on mental issues.
Crisis like the COVID-19 does not come along very often and it's impact will be felt for months to come if not years. Traditional businesses will find it hard to rebuild without adjusting to the new normal. The new normal involves new and innovative ways to use technology in business. Forced insolation made sure that we made use of technology to connect and communicate in ways that was never before experienced.
The new normal will be the game changer in how we live our lives and businesses will have to adapt and change.