A global health crisis full-circle redefined consumerism. Counting down to a full-blown pandemic, we scurried and emptied the grocery shelves of not only toilet paper but also other health and home essentials. With no prior stimulus to do this, we just knew we had to shift to survival mode.
For so long after the latest World War, we haven’t been ravaged by a crisis of a scale this big. For this, we weren’t quite sure if we were doing anything right at all. One thing for sure, though, is we better have taken care of ourselves and, as difficult as it sounds, we had to let go of several luxuries, including travel, leisure, and other forms of self-indulgence. Nothing would have prepared us for this, and the same is true for businesses.
Massive lockdowns and the eventual loss of foot traffic have undeniably left a dent on commercial businesses, particularly those who thrive on the brick and mortar setup. In the end, many establishments had to face inevitable bankruptcy while some pivoted and shone like diamonds that’s been through the rough. Truly, an economic downturn like this demonstrates the survival of the fittest, that is, the ability of businesses to turn the crisis into a well of opportunities and stay afloat in the process.
For these businesses that at least survived 2020, what do they have in common? One thing worth noting is their grit comes from reviewing their planning boards and tailor fitting it to the all-new environment wherein they and consumers reside. They saw how urgent it was for the buying masses to adopt a healthy lifestyle, if not one where they can enjoy their hobbies in safety. Without further ado, we’ll discuss in detail these new lifestyle trends that’ll shape business this year onward:
Long periods home-bound made many of us realize how clutter indoors disrupts us, hence, the minimalism boom. Suddenly, becoming more mindful of our impulsive behaviors had us foregoing for some other time or never at all checking out from Amazon. We now have a better sense of necessity and luxury.
This squeezes the wits of product designers to infuse the most function into their designs without the complicated user interface. From baby carriers with built-in bassinets to heavy-duty lawnmowers, air fryers, and smart coffee makers, they know the buyer’s desperation to solve their issues DIY-style with all-in-one tools and, of course, sporting a classic minimal look.
Health and Natural Therapies
True to many, the pandemic turned them into hypochondriacs or worried about the health of their loved ones. Many jumped on the wagons of health supplements and everything organic. At the same time, some invest in fitness gear like bands and meditation apps as mental health can only be more highlighted during this period, anything that promises them immunity or keeps them from the risk of going to the hospital.
Anyone on the fence of building a startup could now be assured that there’s true wealth in health. Opening a fresh juice business, designing a wellness app or a proprietary massage chair, delivering fresh produce door-to-door, or even starting your ayurvedic brand, are all lucrative business ideas.
Paving the Way for Small Businesses
For sure, a strain in our supply chain brought out of us unforeseen creativity and resourcefulness. Worries of infection got buyers scouring the Internet for ‘the closest’ this and that that delivers and accepts online payments. Coming to our rescue are smaller brands ready to fulfill our needs and are more accessible within our locality. This movement, relocalization as Forbes dubs it, discovered not only new champions but also unintentional heroes who fuel this otherwise stagnant economy.
The pandemic sure got businesses, small and large alike, ramping up their e-commerce platforms and made communicating more seamless with the buyers, real-time even, because, let’s face it, the disappointed website surfer is often an opportunity loss. Many small businesses don’t disappoint either with their products or services readily accessible through social media.
Recent events prove just how pressing the changing climate is that we couldn’t ignore it. Consumer preference has since shifted to eco-conscious products ranging from daily essentials to fashion and event technology. Big brands like Colgate are just among those leading the commitment to fully recycled plastic production come 2025. Of course, labeling product packaging ‘100% recycled plastic’ is one, but to back up this claim takes full commitment.
A more mindful generation of consumers has emerged from current events. This could prove detrimental for businesses who are just in it for the money. Therefore, rising to the occasion could now mean refreshing their perspective on how to stand out amid intense rivalry, more so to what adding value to customers means.