No business, small, medium or large, has been spared the wrath of the Covid-19 pandemic. The global crisis has nearly shut down entire industries and businesses are forced to adapt and evolve. Technology has aided many enterprises but some others just have to either adapt to more innovative approaches or fold up.
Here are 5 areas in which innovative solutions are already working for some industries abroad, and can be adapted here:
The transportation industry has been badly battered as stay at home order and social distancing restrict movement. Airports, railways, seaports and road transportation are either closed or operating at sub-optimal levels. At least 90% of scheduled trips have been canceled within the crisis period and the best way to go around the situation and earn some revenue is to switch to movement of cargo and goods – especially food stuff.
Government’s movement restriction exempts movement of food and medical products and equipment, so it is only smart to engage businesses, farms and entrepreneurs that need to move goods to different markets. Transport companies can take out the passenger seats in their vehicles and convert them into vans, to move goods at this period and still earn some revenue, rather than shut down the business. Taxi cabs are idle now can be used for delivery services.
Online order and delivery services have experienced reasonable transaction volumes as the stay at home order and social distancing limit the number of customers inside physical stores. The term for the emerging business trend is ‘dark stores’, and supermarkets, grocery stores, clothing lines, mobile phone and accessories stores and many others, are adopting the innovative way to cater mostly for online orders. The strategy may continue to boom well beyond Covid-19 pandemic as retailers can see real cost savings in terms of personnel cost, energy costs and many other advantages.
The hospitality business has suffered huge losses as hotels are nearly empty and some facilities completely shut down. However, lots of corporate organsations have their employees working remotely, so the smart thing hotels can do is offer day rates for remote workers. Hotels can lower their rates and market their facilities to organisations that will book for their workers to have private access to hotel rooms turned office suites, complete with fast internet and a quiet atmosphere.
Still talking hospitality, restaurants usually have access to fresh produce and since they hardly have eat-in customers, they can commence selling and delivering same alongside their food. Customers can order items like fresh vegetables, meat, eggs and even beer to pick up alongside their restaurant orders. The services guarantee that customers can get the grocery items they need and provide a much-needed lifeline to the restaurants.
#4: Media and Entertainment.
Media and entertainment are some of the big winners in the stay at home era, but media managers, producers and content writers should know that new heroes are also emerging other than the spiritual, political, and economic and sports heroes.
Healthcare professionals, and other frontline workers like food and grocery store workers who keep providing services for the common good are more of hero figures, today. So content which magnifies the roles these new heroes are playing for humanity at this time are most appealing. Similarly, media houses which highlight the roles of today’s heroes will also sell more news.
#5: Online Learning.
Online learning is also booming now. Everyone is at home and needs engagement, so traditional educational institutions, sports and fitness centres and others can capitalize on platforms like Zoom, Skype, WhatsApp and others, to provide online learning services at a fee.
Some fitness centres and schools are already livestreaming and releasing at-home workout plans. With everyone at home, fitness companies and educational institutions have to get creative with their physical locations closed.
The COVID-19 pandemic has changed how businesses everywhere operate. Undertaking a massive transformation and pivoting to a new direction could be the only way many companies can stay alive.