We have seen untold changes due to the covid-19 pandemic. Some business sectors have collapsed, others have re-positioned and some have done extremely well.
But, what are the common factors amongst each of these groups in the pandemic?
Clearly sectors such as hospitality and entertainment have had to endure the most serious pain. Sport has had some tough times as well, although the insatiable demand for sport on TV has protected, for example, soccer, due the millions in TV money.
But, pubs, restaurants and theatres and cinemas are in deep, deep trouble, Cineworld recently shut it’s doors in the U.K even prior to the current Lockdown 2 being implemented. We haven’t seen a live concert for 9 months apart from the odd socially distanced hugely contrived event here and there.
Bands are doing online concerts but the pain is clear. Major concert tours are still held in stasis and fans are eagerly awaiting new album releases. The same is true in the film industry where there is a whole plethora of new releases being held back for when cinemas re-open. There’s the new James Bond film, Avatar 2 plus many more blockbuster releases waiting in the pipeline.
Film makers, cinema chains and all the thousands of services that support these massive industries are sitting idle.
It does beg the question, how long can the government provide support? U.K national debt crashed over the two trillion level just this month (November 2020). With all this non fiduciary issue (free money n9t backed by gold, so essentially worthless) floating about, we are surely looking at a period of intense inflation somewhere not too far down the line.
Maybe that is what the West wants? Such inflation would surely devalue the massive real value of the crushing debt the Western economies are carrying at the moment.
Re Positioning Business
But, it is the many businesses that have re-positioned that have continued to at least keep their heads above water in the crisis.
There have been many stories of engineering companies repositioning to make PPE equipment which is surely one of the most in demand products in the world at the moment. The same was true for respirators with companies like Tesla piling in and helping (whilst making money of course).
We are also seeing people with connections using them to broker deals and earn huge commissions. But the stories I like are the human stories.
Restaurants repurposing to become takeaways whilst supporting the local community with “meals on wheels” type services for the less fortunate. They say true human nature surfaces during a crisis, and it’s interesting to see the contrast in this.
The people who are doing genuine good versus those profiteering.
I guess it’s human nature and that “sort of thing: will always go on. Indeed, I’ve seen an increase in my SEO business as people realise they need to make better use of the online platform.
They realise they can compete with the big boys and SEO Agencies if they get their own website in order., And, of course, a visitor who searches for what they want and finds you is more likely to engage and buy.
It’s like ecommerce fast discovery to maximise online sales!
Come what may, you have to evolve to win in the new reality. Good luck!