It seems as though the COVID-19 pandemic has changed the world as we know it. People were initially worried about losing connectivity with their loved ones, places of work and the outside world in general.
However, thanks to the great leaps humanity has made in information technology, the majority of us remain unaffected by social distancing.
Many of us have switched to working from home, and we can stay connected with friends and family. It is clear to see that while some businesses—those who conduct in-person activities— are running into issues, others—essentially those that have an online presence— have found a way to sustain themselves during this time.
The fact that they have an online presence is important. With a mandatory quarantine being imposed in many countries around the world, many malls and stores have suffered heavy losses since they could not sell all your products.
One spill-over effect of this is that many people have changed their shopping habits, switching from going to these retailers to shopping online. Who benefits the most from this? E-commerce brands! Whether it’s because of boredom or necessity, e-commerce companies and online stores have seen a spike in the number of people shopping from their smart devices. This could potentially change peoples’ shopping habits in the long run. It’s being speculated that people will become more comfortable shopping online.
However, keep in mind that selling isn’t the only online business model. If you’re an educator, you are probably experiencing some pay cuts since many schools around the globe have shut down. Now is as good a time as any to begin your very own online classes and coaching business. Another business that is skyrocketing is that of social media marketing. This consists of classified ads, and auctions. You may think that this quarantine is bad for your transaction broker business but you can start your online services of payment processors and advertising networks.
Thus, we believe that starting an online business right now could be extremely lucrative. It could be a great way your business could avoid taking financial hits.
However, one thing we would advise you to do is focus your business strategy more towards selling essential goods and services rather than luxury items. These could be non-perishable food items, medications, and disinfectants as well as online classes and transaction broker services. You may also benefit from price-cutting tactics. Since the outbreak of the virus, we have witnessed many businesses practice price gouging. If you try and tell at the normal prices, you could benefit greatly from increased sales. Customers will want to buy cheaper products since there have been pay-cuts. Another option is to go with the simplest online business model and start a blog and earn from ads and referrals. Here you can find 10 New Blog Niches to Make Money in 2020 and Beyond.
If you are someone who is thinking of starting an online business selling products and services but don’t know how to get started, Biizly.com is just what you need. You’ll find everything you need to start an online business on our website. All you need is a little investment, good Wi-Fi and a laptop and you’re set to go! If you’re interested in availing of our services, contact us online or email us at info@biizly.com.
