The detrimental effects of the global pandemic in the economy served as a great leveler of businesses. We are seeing companies regardless of their expertise and scale, cutting salaries, laying off employees, and even on the verge of closing down, barely struggling to stay afloat.
However, there are industries that have been seemingly spared from the deluge. For instance, home entertainment and streaming companies, as well as those that offer basic necessities (such as hygiene products and personal protective equipment manufacturers), have experienced a significant profit increase and are even expected to continue doing so even in the post-pandemic world.
This signals a potential business opportunity for budding post-pandemic entrepreneurs.
For instance, communication tools with automated push notifications will hasten business processes and even boost customer engagement post-pandemic. As more and more people work from home as part of the “new normal,” having such a system in place for any business will be a necessity. It helps keep people engaged through almost instantaneous contact and adds another level of communication.
As we all expect to deal with the after-effects of an international economic depression after the pandemic, leveraging available business tools and programs will tip the balance between business failure and success.
Hence, here’s a quick list of similar industries that are predicted to thrive in our post-pandemic future.
Top Industries That Will Thrive in a Post-Pandemic World
Fast Moving Consumer Goods
Also known as consumer packaged goods, fast-moving consumer goods (or FMCG), are non-durable classified products that are usually mass-produced and sold at typically lower prices due to their perishability and high turnover rate.
Examples of FMGC are perishable grocery items (like meat and dairy products), and high demand goods (like potato chips and carbonated beverages).
Speaking of highly perishable products, business experts predict that food businesses will continue to thrive along with other essential industries.
The landscape of the food industry is expected to shift, though, as more and more establishments transition towards a more delivery-focused setup.
While this was originally intended as a coping mechanism to keep the industry alive amidst quarantine and social distancing protocols, there is a high likelihood that this foodservice method will prevail as being the more preferable option over dining in.
While non-essential product manufacturers (such as those that offer luxury goods and high-end digital devices) have definitely suffered a really hard blow this year, it still comes as no surprise that this negative impact was not met across the board.
For instance, e-commerce channels experienced an overwhelming increase as more people became reliant on this method of shopping that allowed them to buy their needs even while in isolation.
Expect a more diversified market of goods after the pandemic as well. Ever since last year, China’s economic output has risen sevenfold according to Forbes, and is now responsible for one-third of global manufacturing thanks to the various international corporations that have their manufacturing operations currently stationed in the Asian giant.
Another industry that experienced a beneficial surge is banking, and this includes other financial institutions. It’s not that surprising given the influx of consumers applying for loans and financial products.
They are also one of the fastest industries to transition to an extensively digital approach, especially since they have already begun the digitization of their services even before the pandemic struck.
A budding entrepreneur might not be able to establish a banking institution post-lockdown, but this industry can certainly serve as a vehicle to diversify one’s investments.
Finally, it’s understandable how pharmaceutical companies are at their peak right now given the billions of dollars streaming in for research and vaccine development in the race to discover the immunization against COVID-19.
However, even after that sought-out vaccine has been developed, experts believe that the advancements brought about by the pandemic will forever change the face of the pharmaceutical industry as we know it.
They expect this industry to receive more attention from investors, especially those who were heavily affected by the pandemic, in order to prevent another outbreak in the future. After all, treatment research and infectious disease prevention have never been more relevant until now.
The Bottom Line
In the end, if there’s one keyword that had resonated throughout the industries that really transitioned well to this new world order, that would be digitization. The transition from analog to digital. The shift from offline to online.
The industries that have already transitioned even before the pandemic hit (like entertainment in the form of media streaming companies) and those that were quick to respond to the pressing need (like banking) were the ones who proved successful in turning this crisis into an opportunity.
Regardless of the industry one chooses, though, giving consumers the convenience to access products and services in the comforts of their own time and space will be invaluable.
It will be the foundation of the post-pandemic economy.