Do you think the world will remain the same after this pandemic?
Definitely not.
Changes are already taking shapes in different aspect of life in the world already, the pandemic is revealing new perspective about life, people are beginning to understand the scale of preference that was thought to them by their economy teacher during their school days
The thing is everything is already affected, including major institutions that shape society – family, schools and churches.
How well are you understanding change during this period?
We have all had the popular saying that change is constant, it’s also true that the most important thing to learn about change is that it always comes with two things disappointment and opportunities.
To go through changes and still come out heads up and mind intact is always as a result of the decisions, to make the best out of changing situation, to focus on finding and exploring the opportunities that comes with change.
Entrepreneurs understand this very well, they know that changes that affect human psychology like the one we are experiencing right now comes with a lot of opportunities because of the fact that human behaviours are changing.
How the pandemic is affecting peoples life
People are beginning to be more health-conscious and are adjusting their lifestyles.
People are learning to spend wisely
Internet usage is on the spark, because people are spending a lot of time online
People are adopting a new work style, like hiring freelancers instead of employing a full time workers, and working from home instead of engaging in every day of 9 to 5, business models are changing.
While this stands as an opportunity to some people with positive mindset towards change, it’s also a threat to some entrepreneurs in some niches and industries.
Niches that are affected by the pandemic
There are lots of business that are affected and will still be affected even in the post covid19 world.
You don’t need rocket science to tell that these niches are in trouble, you just need to understand the changes that are happening around you and how people are responding to it, that is all you need to spot opportunities and threat in industries.
It’s also important to note that, been affected doesn’t mean the industrie is dead, it simply mean the normal way of functions you are used to know is no longer viable.
Some of these niche or industries might be currently losing, but there are chances that they will revive as the easing of the lockdown progress.
This is also creating opportunities for people to tap into industries that seem difficult to tap in.
Here are some niches that are being affected by the pandemic
# Tech & Gadget
People are becoming careful with their spending, and less obsessed with the newest device in the market unlike before the pandemic.
A lot of people are in survival mode, every spending must be properly accounted for, this is definitely going to affect the tech and gadget niche because these people who get patronize when people have enough money to spend.
# Travel, Tourism and hospitality
Because people can’t move freely and can’t travel from countries to countries these industries have been badly affected.
# Luxury products
People are beginning to organize their needs and want with a scale of preference.
Luxury will always get less attention when human start thinking this way.
# Real Estate
Scale of preference applies here also
Buying of real estate is affected
Tenants will struggle to pay their rent and for some people buying a luxurious home is probably pushed down on the scale of their preference.
# Fintech
Loans will be difficult to pay back, people will seek cheaper means of transacting, these are big challenges for this niche.
# Labour Market
Jobs will be gone
The change in work style and method like the “GIG economy” is going to force unskilled people to lose their jobs
There are other niches or industries that will be affected by the Pandemic, this here are just to give you a clue.
Some industries are going to to be winning during and after this pandemic also, you can tell about this by the swift in human behavior especially as a result of the lockdown.
10 Winning industry in during and post covid19 world
1. Ecommerce
Ecommerce, the process of selling products or services online, this is one industry that has experienced a tremendous growth as a result of this pandemic and will keep winning after the covid19 pandemic.
People are already spending most of their time online they are seeing how easy and flexible it’s to transact or do business online, trust me this industry is very much on an upward trend for a very long time.
There is no better time to learn how to sell your products or services online than now, ignoring this trend has the potential of putting anyone out of business.
The world has gone digital you need to go find your customers where they hangout – online.
2. Online Education
People are beginning to learn online by themselves, the traditional school system are adopting they don’t have a choice but to adopt.
All the tools and resources people need to learn from the comfort of their bedroom are available and accessible, information are also highly available but free and paid.
The education system is shifting, I have always known that this system need a major revolution and the lockdown is forcing this revolution on our educational system.
It’s also becoming opportunities for ordinary people with skills and knowledge to start their own educational business, the opportunities is open for people with knowledge and skills.
Share your knowledge and skills with the world, there are people online now who are going to pay you to teach them what you know.
3. Gig Economy (payment per task)
First, what is the GIG economy ?
The gig economy is a work environment where independent workers are paid by task performance and can work from any location in the world.
A lot of businesses are minimizing their cost of operations, and one of the ways they are doing this is by working with freelancers.
On the other hand, some people have learnt during the lockdown how possible it’s to work remotely and on timely bases and earn better without the stress of 9 to 5 day job.
This niche is selling, with the right skills, you can offer businesses or individuals services from the comfort of your bedroom and get paid for it.
4. Foodstuffs/grocery
Food is essential to man survivor, people will always eat food, regardless.
Making food available (farming) and helping people get the foodstuffs conveniently at a reasonable price is going to be an evergreen opportunities.
5. Health care
How careful and attentive have you been with your health lately?
People are now becoming more health conscious and are beginning to pay more attention to their biology and well-being.
Currently, this industry is saving the world and they will always be appreciated for their effort and will keep being relevant.
6. Affiliate Marketing
Affiliate marketing, a recommendation based business model.
As a lot of people go online and start shopping online, a recommendation about products and services will always be valued.
People will always want to rely on the experiences of verified purchasers and recommendations, which is what affiliate marketing is all about.
This niche has been on a rise before the pandemic and will definitely keep rising during an after the pandemic.
7. Beauty/care
People will always want to look their best regardless of the situations in the world around them.
People will always want to care for themselves, body, soul and spirit, regardless of how tight there budget is.
It’s in human nature to always want the best from life, this part of the success trigger for this niche.
8. Agriculture
Anything that contributes to feeding humanity will keep selling unless science figured out how human can live normally without eating 😊.
9. Personal development
There will be need for people to live better, think better and act better.
The thing is tapping into any of this opportunity requires an entrepreneurial journey.
Virtues, hard and soft skills are always needed in entrepreneurial journey, people need to be in their best performing state as human to be become successful as an entrepreneur, this is where this niche will be playing a major roll.
For the visionaries, this time for them to champion the most important mission in their life.
These winning niches and industries are opening up opportunities for personal development niche, people with knowledge and wisdom can help the crowd get in the right path that leads to better days.
I will love to hear your thoughts on this topic, which niche or industry do you think will win during and after pandemic? Share your thoughts in the comments below.
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