We are changing our lifestyle and priorities to adjust best to a “New World Order”.
Our changing preferences will give way to new opportunities. It is in these areas that the next industry game-changers may emerge.
Pre vs Post COVID 19
From Physical Travel to Virtual Reach Outs:
Domestic as well as international travel has been on rise over the past few years. Now, Work from Home is the new normal. Recreational or official travel may be curbed as Virtual meeting platforms are seeing demand.
From Dining Out to Kitchen Automation:
Restaurants were thriving with patrons. Indian food service industry’s market size was at Rs 4.23 trillion in 2018-191. More focus could now be on home-cooked & healthy eating under the new normal which may increase demand for Kitchen Automation at homes.
From Theatres & Entertainment Parks to Home Entertainment
Movie theatres and entertainment zones were important part of our weekend plans. Now, over the top (OTT) subscriptions and home entertainment may find more favour. Gaming platforms could also see an increase.
From Salon & Spas to Self-care tools
There are about 65 lakh salons2 in India as consumers are paying more and more attention to grooming needs. Post Pandemic focus on overall hygiene will increase manifold. Home grooming tools and products may be sought. Online fitness platforms could provide for the locked gyms.
From Branch Visits to Contact-less Transactions
Banking and Financial Services were reliant on branches and in-person solicitation for sales and services. The focus may now shift to contact-less and online interfaces to consult / transact financial product & services.
And finally, we may realize that when life gives you lemons, make lemonade!
Mutual Fund investments are subject to market risks, read all scheme related documents carefully.