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The global business climate has been drastically affected by COVID-19. Many businesses were forced to shut down in efforts to prevent the spread of the virus.
Being closed isn’t good for business, and really dying isn’t too great either. The virus has considerably shifted business trends, and some companies and industries will never be the same again.
We also saw businesses thrive with their already tried and true business model like Amazon.
The globe got pushed into a recession, and we are now in the Coronavirus Economy.
What businesses will survive? Which ones will thrive?
In the long term, only time will tell. In the short-term, we have seen what’s been “essential” to consumers and what will potentially continue to grow.
I’ve hand-picked 19 business ideas that show great potential based on rising trends during the “new normal” and beyond.
1. Hard Seltzer and Kombucha
People are drinking a lot more, and they’re drinking new things. The fizzy appeal of great flavors and low calories is catching a buzz with drinkers.
The pandemic has caused people to worry about their health more, and instead of quitting drinking, they’re drinker mildly healthier alternatives.
The need for low-calorie, “healthier alcoholic drinks” isn’t going anywhere; this trend has legs.
2. At-Home Exercise Equipment
The social-distancing standards have made going to the gym stressful and a bit inconvenient. As a result, people are exercising more at home.
The increased demand for gym alternatives provides business opportunities to those who can fill that need.
Covid-19 has brought increased awareness about germs, and some people may choose to skip the gym permanently.
Even when most people return to their gyms, there should be a lingering demand for home exercise equipment.
3. YouTube Channel
More and more people are at home with nothing better to do. YouTube viewership is increasing, and so is its content.
Now might be the best time to start that YouTube channel and get the ball rolling. From entertainment to education, there are many opportunities available.
The increase in screen time is not going to slow down. The new normal has made being online an increasingly prevalent part of our lives.
4. Virtual Assistant
Virtual assistants are in need of by many businesses, and now that it’s harder to do things in person; they’re even more sought after.
You could start a VA business or become one yourself. Small business owners need help with all the tasks that involve running a business.
This demand will likely continue to grow long-term, along with online companies.
5. Home Improvement
When you’re stuck at home, you start to notice some work that needs to be done. You are also home more, causing increased wear on your furniture and appliances.
People have taken the lockdown as an opportunity to dust off their home improvement to-do list.
This trend is likely to continue throughout the recession. People will be fixing things more instead of buying new, and this includes homes.
Gumroad helps creators sell their content online. A lot of people are need of the extra income, and the demand for online commerce continues to show growth.
More time at home is leaving people with spare time to create content, and Gumroad allows them to monetize it conveniently.
7. Graphic Design and Web Design/Development
Businesses heavily rely on the gifts of talented graphic designers and web developers. From business logos to book covers to websites, there is a lot of demand for well-designed digital content.
Websites are and continue to be heavily relied on, and having one that looks good, and runs correctly, is essential.
This demand isn’t going anywhere. Even after the Coronavirus pandemic subsides.
More people will be shopping from home and will rely on websites to find the products/service they need.
8. Social Media Marketing
Due to social distancing, and the risk of Covid-19, more people are socializing online instead of in person.
With more people online, the need for businesses to stay current with social media trends is growing.
You can freelance your marketing skills or open a business of your own.
While social media activity can fluctuate, its growth isn’t slowing down, and it should continue to remain stable for a long time.
9. Home Furnishings
Spending more time at home has shifted people’s focus on making their surroundings more comfortable. Office chairs, desks, etc. all saw a spike in demand from the rise of working from home.
Many companies are making positions permanently remote, and people want to work from home comfortably.
The home furnishings business looks promising in the Coronavirus economy and beyond.
10. One Meal a Day (OMAD)
The health trends to eat one meal a day and intermittent fasting are on the rise.
When a virus is sweeping the globe, it’s not hard to imagine why people want to get healthy.
Health food businesses have the opportunity to create diet plans based on fasting and OMAD.
The lockdowns have caused some people to eat more and move less, thus the need for weight loss alternatives.
11. Blogging and Podcasting
With more people spending their time online, it’s ushering in a renewed demand for content like blogs and podcasts.
Many people who didn’t have the time to start an online blog or podcast have suddenly found it due to the pandemic.
The demand for quality blogs and podcasts will likely continue to grow even after the virus is no longer a threat.
12. Home Spa Products
Similar to going to the gym, going to the spa nowadays is not quite the same. Spa-goers may choose to treat themselves at home instead.
Products for self-hygiene and maintenance have seen a decent rise in demand since the pandemic and should continue to prove needed.
How many people tried cutting their hair? The trend for self-maintenance outside of the beauty salon looks promising.
People are thinking more about what they can do themselves and how they can get it done from home.
13. Electronic Accessories
Working from home has made the demand for electronic accessories skyrocket—laptop stands, mice, keyboards, monitors, etc.
It’s as if millions of tiny offices opened up throughout the world. WFH will be a big part of the “new normal.”
The need for electronic accessories/office supplies isn’t going to die anytime soon.
14. CBD and Cannabis
Even before the spread of Covid-19, the consumption and legality of cannabis products have shown exponential growth. The virus has increased the demand for CBD, medicinal, and recreational marijuana.
This industry was already hot, but it got even hotter from the pandemic.
With people even more stressed out and bored than before, it’s not too surprising that cannabis use is rising.
15. Supplements and Vitamins
The heightened awareness of one’s health has made many seek alternative health products.
Apple cider vinegar, vitamin d, vitamin c, antioxidants, etc. they are all in demand. There is even a seltzer beer that advertises its added vitamin c and antioxidant content.
Generally a large amount of herbal supplements and vitamins are mostly unproven to cure or prevent any diseases, still, people swear by them.
Even I have a shelf full of different supplements that I take daily and have seen more people do the same.
The need to stay healthy and boost one’s immune system should see steady growth in the coronavirus economy.
16. Personal Protection Equipment
MASKS! Something no one ever really thought that they needed has now become a necessity.
Laws are being mandated that they must be worn in public, and the need for personal protection equipment should stick for a while.
Now that people are buying more hand sanitizer, masks, gloves, etc. the need for variety and quality PPE is born.
17. Wellness and Emotional Support
2020 has been a rough year for a lot of the world. The psychological and emotional toll that the virus has unleashed on the globe has caused a lot of damage.
People are in need of even more phycological help and positive support.
Businesses, both for-profit and non-profit, can meet this need in many ways.
Wellness blogging/channels, counseling, motivational content, outreach, etc. should all prove to grow and help a world in need.
18. Emergency and Survival Equipment
Prepping has increased and will likely continue. People all over the world are stocking up on emergency supplies.
The media has ushered in a new era of fear, and everyone wants to be prepared for the worst.
This trend fluctuates, but it should remain relatively steady in the scary new coronavirus world.
19. Resume Writing
Due to the lockdown, unemployment claims have broken unimaginable records.
With millions of people out of work, there are millions of people dusting off the resume.
Having a well-written resume makes the difference between getting an interview and getting lost in a stack of bleh applicants.
Businesses that can help people find employment during what has been said to be the new depression 2.0 will surely have high demand.
No one knows what the “new normal” will be like exactly, but so far, we’ve gotten a pretty good idea. The United States and most of the world is facing a pretty significant change in ordinary life.
Adapting to this change in life has been quite the experience for us all.
New business models and ideas have been born from the pandemic. Some business models have strengthened, and others have been killed.
Entrepreneurs should be seeking out the newly born opportunities and try to meet the shifting demand.