Companies in these industries will be influenced.
By Ben Scheer
There’s no question that change is coming. In fact, it’s already happening as you read this. Household-name companies as well as small businesses have needed to adapt to not just survive but also thrive.
Interestingly, there are several business areas that will benefit from our current situation. Here are 4 types of companies that fit that mold. Read on to dive in!
Due to social distancing and restrictions that stem from the pandemic, a lot of people are spending their time at home doing work, taking care of children, and more. Given that people are sticking to their homes, delivery is going to grow. The first thing that likely comes to mind for you may be food delivery services. Think Uber Eats, DoorDash, GrubHub, and businesses like that. Restaurants, grocery stores, and more have needed to connect to delivery services or hire drivers to accommodate for the high demand for delivery. This is not to mention the sanitation practices expected of these institutions.
However, it doesn’t stop there. Other types of things will need delivery options more than ever. One company that sees this trend is Carvana, whose goal is the provide car shoppers a better way to buy a car, including via car delivery services to your home.
CVNA stock performance as of August 2020 from EEON
Not only is delivery important today, but so is fast delivery. Expecting 30-minute delivery of food or 2-day delivery of your new lava lamp is the norm. New companies will continue to try and address the logistics and speed involved in delivery services. This includes the introduction of new robotics that can make delivery more efficient.
Remote Work Technology
One should expect some completely new ways of doing work in the near future. Yes, many companies have spent time and money investing in new technologies, and have made strides in terms of cloud services, cybersecurity, and more. However, video calling through Zoom is just one area where there will be a lot of innovation due to workforce needs.
There are a lot of areas involved here. Companies need tools that help them track projects, keep in touch with customers, hold meetings internally, create and share designs, and much more.
All of this needs to be managed in a remote fashion for the most part. This is a great opportunity in terms of new technologies that find ways to replace weaknesses within current options.
Virtual Event Hosting And Planning
With many working virtually, and with limits on how many people are allowed together in one space, businesses need to find better ways to keep people connected. This may be related to the desire for health and wellness events, all-hands meetings, or just pure fun.
Classically, folks have hired event planners to help create events that run smoothly and are aesthetically pleasing in a physical space. That will continue, but now, there is a need for virtual event planners.
Organizing virtual events requires a lot of creativity, but there is also a need for tools to back this up. Websites like skribbl.io provide fun bonding activities, but there is a lot of opportunity in this space. One should be on the lookout for tools that enable amazing virtual events.
Many business have had to rethink the way they source their products or provide their services, as the pandemic has disrupted the operation of supply chains at a global level. Supply chains encompass all the people, technology, and resources that go into creating products and services, so there are a lot of variables at play.
As a consequence, many folks have turned to local businesses such as nearby farmer’s markets to fulfill their wants and needs.
While it’s a difficult time for many small businesses that have trouble staying out of the red, there is also a lot of support for local sourcing and community members supporting community members. Even Facebook has noticed this trend, and is offering small business grants and opportunities to buy and sell within their platform.
That leads into the fact that e-commerce will continue to be on the rise for the foreseeable future. Think Shopify, a platform through which anyone can sign up and create an online store.
Delivery services, remote work technology, virtual event hosting and planning, and local shopping are just 4 of many areas seeing growth due to CV-19. There are other areas, such as robotics and sanitation, that will also see continuing growth and innovation. As the U.S. moves from a reactive phase to a recovery phase, these big changes will come to be even more clear.
[Note: This article is not financial advice.]