Backgrounds of 2020
The market gets effects through COVID-19, a family of the virus, work from home sourced from Hubei (Wuhan), has restated meaning of medical advancements. The entire theory of development in all sense is left behind.
There is a need to re-frame the existing theory with the coronavirus situation. It has almost taken the death of over 3.5 lakhs and over 52 lakhs confirmed positive cases are reported across the world.
The entire economy is disrupted with pandemic effects. The entire marketing has failed in a lockdown situation.
The sales and profits of many companies are lifetimes negative due to pandemic effects. The stock markets are crashed for a record high in a day.
The employment and growth rate fell negative. The certain activities like mask building, medical sectors and digital meeting tools like Zoom, Webex etc are touching its economic expectation.
Work From Home: Digitally markets get effect Post-COVID
It has brought certain disappointments it has changed the way the things has to be done.
The saying has come true that there is a sunrise after every darkness; The coronavirus situation gave new scope to networking and marketing of the business.
It has taught the world especially India to exploit work from home culture for many products to be marketed to customers. Let’s talk to new opportunities and sectors naturally created in the Post-COVID situation.
1. Digital Products
Digital products like online Gaming, Augmented virtual reality, and online meeting tools are going to shine. As people are coloured in the culture of working from home.
The people have practised watching more and more YouTube videos, YouTube lives to stream. The Netflix and Amazon prime are game-changers for HD video streaming as people have to practice social distancing in the next couple of years.
Online gaming and Video industry have been touching new high since stay home practices. The other key players are going to jump in this sectors seeing upward curve of this industry.
As they are attracting more traffics to their products, it will change the design of the advertising industry. The advertising tools like pamphlets, banners and hoardings will get minimized in the upcoming scenario. Electronic marketing will take over paper marketing.
The digital products meeting tools like Zoom, Google meet, Webex and many more will find their space in industry as physical meetings among various corporate executives and client meetings are going to be restricted due to stay safe practices and work from home.
2. Online Coaching Industry
The next booming sectors are online coaching industry. There is going to many start-ups in these sectors. The Academic Coaching, Corporate mentoring, Motivational training, Yoga training will take place in online mode.
The online coaching will be one of the biggest discovery in post COVID. There will be a need for customers to buy such a product. Digital marketing in association with Artificial intelligence will be key tools to exploit opportunities monetarily.
In fact, it could be one of the greatest job providers industry in the country. As more and more people will rush to learn the skill set. Digital marketing, artificial intelligence, and data science courses will leave another traditional course of employment.
The health care industry is optimistic in post pandemic situation. As more and more people will rush to increase their immunity. The people will opt for Online Yoga classes to build good health and to avoid future pandemic crisis. The new supplements, vitamins, health care materials will get introduced.
This may change entire marketing strategy of most of industry. It will ensure man less marketing in future. The current mask culture will be sustained to avoid any crisis. So Mask industry will be one of emerging sectors.
4. Stock Market
As people have been sitting home due to lockdown, they may have found alternative ways to make earnings with financial markets.
The many people have learnt basic skill set to invest into stock markets. So investing into stock, derivative products are going to rise. This may overcome liquidity crisis of people up to certain extent. If liquidity will flow, expenditure by people towards necessaries and luxuries will see positive trends.
5. Artificial Intelligence and Data Science
During the crisis, manless activities are increased due to social distancing norms. So Data Science and Artificial intelligence tools have been getting exploited hugely by individual, corporate and governments since the start of the crisis. So Drones technology and artificial intelligence will be found to have a great role in accomplishing the target.
It is going to reduce the cost of operation and improved customer relations through data management. Seeing the importance of artificial technology, The Finance minister Nirmala Sitaraman announced in her budgetary speech in February 2020 for the use of technology in all government’s policy execution.
6. Food Delivery Chain
The home made foods will be preferred in sake of hygiene and health. The people may avoid eating hotels and restaurants foods in a fear of new virus. So it will increase business of Tiffin Delivery Company.
Mumbai’s famous Dabbawala will find value to their work and increase their operation and market share.
7. Spiritual Science
The spiritual science is one of emerging areas post pandemic. The programme like art of living, peace of mind programme are going to rise under a pressure to keep oneself mentally and physically fit.
Such programme increases inner immunity to disease and negative thoughts. So there is a lucrative opportunity for co-coordinator and event manager. It may also attract people to mentor and instructor for such events.
8. Work From Home Application and Software Sector
Due to work from home culture across world, the software and Application industry have been continuously touching new high.
The various applications of entertainments are jumping to market. The various corporate and even small businesses are ordering to develop their own application for customization purpose.
The application will also help to brand name for these businesses and help in the right niche for their customers through data management. The payments will be collected easily through these apps.
The product launching will become easy once there are proper figures for potential customers. The next era is the digital era. During COVID internet usage are gone high. India is the largest data user country.
In the coming days, internet penetrations are going to be high. So the apps and Gaming are going to well with the passage of time. Hence there could be many startups in software development segments.
To finish, COVID can not only be said to bring disappointment to human beings on economic and social fronts but it creates new opportunities for many startups and hopeful entrepreneurs. It will change entire business models and marketing strategies.
The hope of the industry will be fulfilled through digital marketing and other online tools. The marketer has to mould their marketing accordingly. The economy is waiting for lots of startups in the above sectors.