What opportunities would emerge under the impact of the epidemic?
The epidemic will cause severe changes to the consumer economy as well as consumer behavior. Thus, its worth investigating which products or services are great opportunities to take advantage of during this season.
1st: Personal Hygiene and care products
Examples of such personal care products that focus on disinfection. Products like disinfection products, disinfection spray and foam, masks, disinfection paper towels, etc.
Another example, there are certain opportunities for other types of disinfection products related to disinfection, ultraviolet sterilization, and desktop purifiers. Another category of disinfection products would be those catered to women and mother-infant groups.
2nd: Personal Sports Equipment
Personal fitness equipment at home, such as dumbbells. We originally thought of dumbells as silly but some are pretty photogenic and can be posted on your social network thus would be valuable during such this epidemic season.
3rd: Smart Health Applications
Intelligent and interconnected health-related applications + remote telecontrol + remote diagnosis and treatment, telemedicine applications, will gradually become popular during this season. Key features would be sensors which are smart enough to detect human physiological indicators combined with artificial intelligence diagnosis or in conjunction with human medical diagnosis.
4th Category: Food
Talent is often lacking in the food and beverage SMB segment, thus in such a industry there lies opportunity to improve the sector.
5th Category: You may not have killer products in your offering. However, you can alter your products (for e.g. with dis-infection themes) to bolster demand for them.
6th Category: There belies opportunities in online education.
Even though schools are shut, the demand for lessons remain, especially online lessons which we predict will see a surge in growth and demand. At the same time, parallel industries within online education, like online tutoring, coaching using AI, companion based AI will be highly popular.
7th Category: Telecommunications/ remote working
There are hardware opportunities for telecommuting products. In addition, remote office software opportunities will be welcomed as well. However, ease of use and superior UX would be key. This epidemic made it possible for us to be accustomed to telecommuting thus it would be used to improve efficiency and not just for this time period as well.
- We need to expand our resource channels yet be cost-effective at the same time. Thus to plan for the worst case scenarios would yield us the best results once this epidemic is over.
- We need to conjure up momentum in various ways, such as retaining users, optimizing channels, improving products and strengthening brandings are some examples.
- We need to keep abreast of the 7 consumer trends and reflect on the potential opportunities;
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