There is no doubt to accept that the ongoing COVID-19 pandemic has ended up being a blessing in disguise for most of us. It has changed how we carry on and see things. A significant number of our tendencies have changed.
This sudden and unfavorable move in general tendencies and attitude has affected the economies vigorously. So the flexibility and innovative dynamic will assume a key job in the supportability of the ventures.
Mentioning ahead, the changing way we live and working since the COVID era started has made the requirement for new trade advances, ways of keeping in contact, providing services and delivering goods, medicinal services, and healthcare, monitory innovation & more.
In this article, we will discuss 5 retail business which will watch new patterns and may see exponential growth potential in coming times. Like other streams, things are changing for retail interface business as well the most affected trade stream is our retail sector and retailers.
Health care & Medical Products Business
Since the outbreak, the most active and in-demand industry is health care and going forward the general items like Mask, Sanitizer, Gloves, Immune Booster remedies, Health supplement, Ayurveda Products, etc., will be in huge demand as a most of us will try and work and push towards to improve our immune system and try to keep ourselves safe & hygienic at any cost to avoid the contamination.
This business stream is quite reachable enough through distributorship and many retail trade opportunities as a lot of new brands are popping up to play in this very much category.
Channel mode – Distribution, Wholesale, Retail store, multi-brand stores.
Trade Margins (expected) – 8% -12% for distributor, 25% – 35% for Retailers and trade partners.
Paper Napkin/Tissue Paper Trading Business
Paper napkin & tissue paper again a very exciting product category aspiring to grow Multi-fold after the COVID era. Many of us Utilized them for cleaning the hand or face which is spongy, germ-free, and tiny. Paper napkins are utilized generally in eateries, parties, salons, homes, and workplaces. With the way of life is going to change in the coming time and affect our dining out tendencies, the demand for paper napkins will steadily rise.
The typical margin on sales is 5% to 8% depends on the brand you deal with and reaching the break-even point quickly as the initial investment is low.
Target Market & Channel – B2B supplies (hotel, Hospital, Offices, schools, etc), Retail counters deal into stationary and grocery items, Sale 2 Door option is also good.
Car Washing Center
Opening a car wash business can be exciting, motivating, and profitable business for somebody with business intelligence and grit, and going forward due to the COVID outbreak the need for safe & hygienic travel will push the demand in this segment.
Usually, an individual car owner and leasers go for a complete car wash with interior cleaning, and detailing is once in 15 days, but going forward it will be required in lesser time to avoid the infections of filth around the car to keep the seaters safe & the need for them to satisfy their Hygiene quotient will be on the higher side. The business margin is close to 50%.
The digital business enterprise develops as the internet gets to advancements day by day. Digital Entrepreneurship can be a decent option for the individuals who need to have their own business, however, don’t have a great deal of cash to put resources into the start.
Post COVID job market has become extremely volatile and job security is at risk in almost all sectors. The digital platform market has an extraordinary potential to create “salary” because of changes in buying patterns, is still generally new; in this manner, there are numerous aspects that despite everything hasn’t been explored.
The following can be hands-on benefits of getting started with Digital Platforms as an entrepreneur:
- You will get to spend more time with your family
- More flexible working hours
- More Cost savings as work from home will cost you less anyway.
- The opportunity of reaching a larger group of people while at home.
Few Career Scope could be anything from the following basis your interest and willingness to chase:
- Social media Marketer/Service Provider.
- Affiliate Marketer
- E-Commerce optimizer
- Technical solution provider
- Digital influencer
- Content writer
Virtual/Co-Working Space Business
It’s anything but an old story when we were setting off to our workplaces and labor for 9-12 hours. But now, most of the employees are currently telecommuting and conversations are going on over a video meeting – Work from Home.
Given the fact that work from home or virtual workplace will be the in thing and low web speed is an ordinary reason for the delay in task successes. Therefore, the chances of productivity getting reduced, and projects getting delayed are high. Though a winner is yet to come, and the following reasons will be the key to trigger this wonderful future business opportunity:
- Tools for communication, team collaboration, data security
- Need for high Internet speed
- Lookalike office environment with proper social distance rules followed
- A new mindset within the start-ups is to give employees work from “Co-work facilities”
But, to find success, you need to understand the customer with maintaining the balance with the human side of the business as well.
Going forward human values and touchpoints will play a larger role as COVID have tough all of us one thing for sure which is – Giving value to People around us over surrounded material things.