COVID-19 and the mandatory social distancing measures forced consumers to think and behave differently. From how we shop to how we spend our free time to how we work has had a profound impact on the business landscape around the world.
While, unfortunately, many businesses have had to shut down, some have seen enormous jumps in demand that’ll continue to grow and thrive in a post-covid world.
Here are six business niches that are poised for rapid growth even after the pandemic subsides:
In-Demand Business Industries in the Post-Pandemic World
1. At-Home Fitness
When gyms closed down during the lockdown period, consumers were forced to opt for home-based fitness products. This created an excellent opportunity for companies that provided live online training programs and sold high-end workout equipment, such as stationary bikes.
While in-person personalized guidance and access to high-level equipment are great incentives to return to the gym, the added convenience of virtual fitness and lower prices of digital classes means home workout routines are likely to remain in high demand.
Because cyberattacks can result in stolen customer details, including credit card and bank account information, cybersecurity should be the priority for all businesses.
Moreover, with more people working from home and using online streaming services, companies are continuously investing in cybersecurity solutions to protect their company’s data and training employees on how to deal with these challenging situations.
Telemedicine has proved to provide better long-term patient satisfaction. Due to the restrictions limiting the number of people allowed in doctors’ offices, more and more people are seeking medical appointments via tel as a safe alternative. This has resulted in lower costs, ease of pressure on the healthcare systems, and accessibility in underserved or rural areas. This swift move to telehealth has triggered technological advances related to chatbots and AI in the industry. The telemedicine software industry is definitely here to stay.
4. Cloud Kitchens for Restaurants
With more people eating in, delivery-first restaurants and industrial kitchens seem to have emerged as winners on the other side of this pandemic. As restaurants struggle to keep workers on the payroll, cloud kitchens, also known as virtual or ghost kitchens, are an ascendant trend to keep up with increasing demand.
Benefits of a cloud kitchen include a reasonable start-up cost, increased access, flexible menu options, lower selling prices, and easy expansion.
5. Home Improvement
With many people stuck at home, home improvement and repair stores saw a boom in their businesses. In response to self-isolation, many households modified their living spaces for school, work, and leisure. And for those whose remodeling projects came to a halt, DIY renovations surged.
Even after the pandemic, as people spend less time at home, experts believe that home improvement companies will continue to benefit as people invest in new properties, shift into larger or smaller homes, and renovate older homes.
6. Cleaning Products
The pandemic has undoubtedly made us more germ-conscious. As a result, the cleaning product industry has seen unprecedented demands. Industry experts reveal that the demand for soaps, wipes, hand sanitizers, and other cleaning products will continue to grow in the coming years. In addition to personal hygiene, keeping our homes clean is equally as important.
With people looking for greener and more sustainable alternatives, opportunities for the wider adoption of UV-C disinfection technologies are growing. Did you know that if used at the correct wavelength for the required amount of time, UV-C light can destroy up to 99.99% of microorganisms?
A team of physicists and engineers at Wolven Industries, led by CEO Mike Norton, have developed a powerful UV cleansing device that’ll help disinfect surfaces in seconds. Currently in mass production, the ‘uRay’ uses potent UV-C bulbs and innovative safety features to maximize the intensity of bacteria-killing radiation in a family-safe manner.
The handheld UV-C surface disinfecting device is rechargeable, battery-powered, and LED-based. It is also engineered to be compact in size to easily fit in your backpack, handbag, or a larger pocket. As a result, you’ll be able to disinfect ATM and grocery store keyboards, incoming mail packages, public toilets, kitchen counters, and more on the go to minimize the spread of pathogens, maximize your safety, and protect your loved ones.
A technology-enabled transformation and new mindset are critical to push businesses forward. The niches mentioned above are just a few that’ll thrive post-pandemic. Other sectors that’ll remain in demand include e-commerce, gaming, remote work software, virtual events, online banking, and more.