#1. Travel and particularly cruising are huge losers.
Can you imagine getting on a cruise knowing now what biological cesspools they are? I took a family cruise a few years ago and caught the Norovirus. I was quarantined in my room for two days. Cruise lines have known for years that they can’t sanitize a ship, and now with a dangerous, prevalent virus, they won’t recover their cruising occupancy without major hygiene overhauls.
If you are a health spa or wellness destination, your strategy should be to implement the most stringent hygiene procedures and policies, and then advertise based on that! It’s a total crisis pivot for you.
#2. Ecommerce and DTC Health Brands.
Ecommerce is already mainstream but now, the masses and laggards are realizing that home delivery of anything and everything is possible and easy.
Health brands like supplements, CPG and alternative meats, milks and flours so often rely on just grocer or retail distribution. Now e-commerce is going to get another booster shot of adoption, and you can capitalize on it by moving toward DTC.
#3. Health Brands are big winners.
It’s obvious that one’s terrible lifestyle can now weaken them to where a virus can become unnecessarily life-threatening. The messaging around health, immune system boosting, self-care, weight loss all now take on a new meaning. Keep your claims legit, but highlight as many of the health and lifestyle helpful benefits as you can, and you will flourish once we get back to the new normal.
#4. Employees are winners.
Employers are discovering how easy it is to allow employees to work remotely. In fact, employers who don’t permit it after this business shutdown will be at a recruiting disadvantage. WFH is going mainstream.
#5. Commercial real estate is a giant long term loser.
Mainly because of #5 above. I was thinking of taking another 5,000 sq ft of office space a year ago and now, I would never do that. We have a lot more flexibility in hiring remote workers. As you plan your growth strategy, think now about scaling back the physical office space or even locating your manufacturing in more economical, rural facilities. Your margins will be more healthy.