3 post-pandemic business trends (and how to make the most of them)

Your business survived the pandemic – whew! What’s next? Think’s Business Advisors put their heads together and came up with three post-pandemic trends that business owners should know about--and how you can act on them to keep your business moving in the right direction.

Trend #1: Workplaces (and employees) have changed.

Post-pandemic, many companies will not return to “business as usual.” Business owners and employees have gained new perspectives on work--and have new expectations--in the pandemic’s aftermath. Yep, flexible schedules, Zoom meetings, and handshake-avoidance may be here to stay!

The pandemic also sped up many businesses’ adoption of new technologies. Having the right digital tools and services in place--and training their teams on how to use them—allowed businesses to survive and even thrive despite Covid-19 lockdowns and restrictions.

What you can do:

  • Give your company a leg up by investing in technologies that may not have been considered essential before the pandemic but are now mainstream in your industry.
  • Prioritize your people by offering flexibility when possible and providing training as your business evolves.

Trend #2: Customers are back, have money to spend, and are bringing new habits with them.

Being homebound for more than a year changed customers’ habits and expectations. The typical person would conduct a web search to find a business, buy a product online, have it delivered, and then reach out to online customer service if necessary. Or, they would shop at a store and pay onsite, but prefer to use a touchless payment system. In the aftermath of Covid-19, customer satisfaction will continue to be tied to businesses doing these things well.

Another big trend is that spending is rising again in many sectors -- especially in the retail and hospitality industries where “revenge shopping” is occurring as pent-up demand is unleashed.

What you can do:

  • Make the most of your marketing budget as consumer spending gains steam.
  • Recognize that your online presence may be just as important as your traditional “storefront,” and make it easy for people to find you, connect with you, and pay you online.

Trend #3: For businesses willing to pivot and evolve, opportunities abound.

During the pandemic, many businesses survived by veering in new directions. From diversifying their products or services to getting into shipping and delivery, businesses did what they needed to stay afloat. In the immediate aftermath of Covid-19, businesses that continue to be adaptable and creative will flourish.

What you can do:

  • Commit yourself to being ready for anything and seizing opportunities.
  • An easy way to spark some big ideas about your business’s future is to ask yourself these simple questions. Use the answers to guide your plans:
    • What is next?
    • What do my customers want?
    • What has changed in the market?
    • How did my business and industry change in the past 18 months?

We can help

Our Business Advisors would love to learn more about you and your business. Visit one of our branches or call us at 1-800-288-3425 to learn how we can help you.