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3 main conclusions about the coronavirus crisis
3 main conclusions about the coronavirus crisis
07-Aug-2020 08:59

3 main conclusions about the coronavirus crisis

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The crisis caused by the COVID-19 pandemic and quarantine measures is very different from all previous crises in history. Therefore, the conclusions that we decided to draw about the coronavirus crisis turned out to be non-standard. Why did we decide to draw these conclusions? Just because now, when the psychological peak of the pandemic is behind almost all of us, we can calmly analyze the situation and extract useful insights for ourselves.

Conclusion 1: The 2020 crisis is a crisis of consumption

Never before in history has there been a situation when a business deliberately limited the production of goods and the provision of services, and buyers deliberately limited the consumption of goods / services. This is exactly what is happening now - people are afraid to go to restaurants, they do not travel, they buy not too many goods that are not essential goods. At the same time, for a long time, many retail outlets and entertainment establishments themselves did not receive guests due to quarantine restrictions.

Conclusion 2: 2020 crisis reinforces the trend towards online services

The new crisis has had a strong impact on some industries that provide for customer attendance (restaurant business, shopping and entertainment centers, cinemas, tourism). After the crisis, all these businesses will recover, but no one knows whether they will be able to recover to their former positions. After all, now people more often order food, groceries and other goods in the Internet with delivery, watch films at home, even "visit" exhibitions online. This trend has already been observed before the crisis, but the crisis has greatly intensified it. So, if before the pandemic the number of buyers in the world who shop online grew every year by 1%, then in 2020 the growth was already 5%. Thus, the digitalization of business is now very relevant - everyone goes "online".

Conclusion 3: It's time to start your own business

If you don't already own your own business, then the coronavirus crisis has shown that it's time for you to start one. You will be able to earn money by working for yourself, not "for the Man", you will become financially independent. There are plenty of opportunities for this now. Moreover, it is better to open a remote business that could generate income, regardless of the attendance of the outlet by customers. Discover new opportunities now and move from words and plans to actions!

Remember that those who hid in the crisis and decided to wait it out, lost.

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