Business Model Shift: How Businesses Reinvent Themselves during the Pandemic

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Covid-19 has changed our lifestyle beyond recognition. From schools to offices, our daily routines have transformed. One tragic result of the pandemic is that it reduced revenue for many businesses substantially. But as they say, every cloud has a silver lining. It also gave rise to many business trends that had never existed before. One such change is seen in the fitness industry as it boosts the need for online fitness.

As WHO stressed upon increasing immunity, people moved toward a clean diet and a healthy lifestyle. They started exercising more and incorporating vitamin supplements into their diet. Even though gyms were shut, the pandemic didn’t stop them from promoting an active lifestyle. The daily workout sessions and doctor consultations shifted online.

Let’s try to understand how the daily lifestyle changes of people all around the world lead to new trends in the business world.

The Emerging Business Trends during the Pandemic

  1. Fitness Lessons at Your Fingertips

    It is clear that a fit body can fight off viruses even before the medicines kick in. Your immunity is the greatest weapon against disease. Hence, it is important to keep a check on it. Exercising daily boosts your immunity and builds strength to help you manage a heavy workload. When the pandemic began, people understood this point and started integrating a regular workout into their schedule. Gym closures called for a new option, too.

    In this case, online tutorials have emerged as a substitute for gym workout programs. This has also increased the demand for professional online trainers. Most people prefer online fitness trainers with cert 3 and 4. Working out is fun, but people also want to see positive changes in their bodies. Losing fat and building muscle are on the top of their list.

    Many people prefer yoga to gym workouts as it is a more calming form of exercise. Yoga trainers know exactly how to calm your senses in these difficult times through various meditation poses. Yoga became popular because of its multiple benefits. In these difficult times, it provides a sense of grounding and mindfulness. As a result, more and more people are signing up for yoga classes. They enjoy breathing exercises that act as a perfect escape from everyday stress.

  2. The Rise of Online Medical Consultations and Medicine Delivery

    As emergency wards were overwhelmed by the uptick in Covid-19 cases, people avoided hospital admission for minor health concerns. Anyhow, people needed to consult doctors for major health problems that required attention and the prescribed medicine. This gave rise to many health apps that allow users to interact with doctors online.

    delivery man

    These apps, combined with medicine delivery apps, solve a major problem. This trend has come as a blessing, especially for senior citizens who are more prone to diseases and can’t visit hospitals. Doctors give consultations via video calls while customers pay in advance. Then they prescribe medicines that are delivered to the patients’ doorsteps.

    Some startups are taking innovation to a new level by using drones to deliver medicines. This is a great approach that aligns with social distancing norms and saves up on labor work. This trend in the health sector will definitely thrive in the post-pandemic world.

  3. Artificial Intelligence (AI) in the Retail Sector

    With the aim of increasing automation, many stores are incorporating AI into traditional commerce. It is revolutionizing the way you shop by cutting down human involvement in suggesting, packaging, and even creating products. Some brands are using AI machines to design clothes based on data about people’s interests and choices.

    AI is poised to identify problems in the system and fix them on its own. This reduces the chances of human error to a great extent. AI substitutes had already been in progress, but the pandemic fueled its demand.

    Startups in the field of AI have seen a major hike in revenue due to the sudden rise in demand. This is a two-edged sword as it puts many people out of jobs. On the other hand, experts argue that this trend will create more jobs as more people with technical knowledge will be employed in factories.

    The shift to online space and the use of artificial intelligence are the business strategies that are going to stay relevant even after the pandemic. The pandemic has caused drastic lifestyle changes, and businesses have to adapt to them to keep making money. Advancements in technology will surely be seen in common places like grocery stores and movie theaters where most of the formalities will be automated. The online healthcare sector will also see a significant boom.

 

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