Both businesses and consumers are adapting to “the new normal” in various ways. Some industries, such as travel, have had no choice but to go on hiatus. Others like fashion, however, are continuing to evolve in a bid to meet demand, promoting jogging bottoms over beachwear. Many businesses, too, are getting involved in such charitable initiatives as supplying food boxes or hand sanitizers to those who need them the most.
You can see how the pandemic has affected the global economy in an infographic showing a break down by country and sector via bestcasinosites.net. Here, we focus in on five sectors, in particular, that are thriving during the lockdown.
Gifts
As the beginning of lockdown coincided with Mother’s Day, orders and referrals in the sector climbed in 122% and 229% year-on-year, respectively. While orders later declined, that was before Easter arrived. Even after another increase in orders for Easter, there was no steep decline that followed. Since Easter, both orders and referrals have continued to rise in the sector, and there are no signs of slowing down, it seems that sending gifts to loved ones is one way that people are compensating for the lack of being able to see family and friends in person.
Health and Fitness
In the week after the government announced the lockdown, health and fitness companies saw orders increase by 163% year-on-year. People weren’t only working out differently, they were making sure others knew about it, as referrals rose by 361%.
So while our methods of exercising may have changed, our need to engage with others about the topic has remained strong. You can see proof of that by scrolling through your social media feeds. This means that health and fitness companies have a great opportunity to attract even more consumers via referral.
Home and Garden
As people were preparing for a sun-kissed Easter in the garden, they went shopping online to buy baking equipment, plants, and other products to make a long weekend an occasion to enjoy during the lockdown. Furthermore, in our current virtual world, our home and garden come up in conversation often. Someone commenting on a plant they can see through someone’s webcam on a Zoom call, or someone attempting to bake banana bread for the first time and posting it on Instagram- these chats can lead to brand recommendations and ultimately new customers.
Food and Drink
There was a surge in demand for food and drink in March, as consumers stockpiled such items as pasta and gin, along with other items they deemed essential. While a few months later, sales have decreased, brands are still selling significantly more products than a year ago. Referrals in the sector are remaining steady at a year-on-year of +182%.
Beauty
While beauty products may not have been at the top of many people’s shopping lists prior to the lockdown, they seemed to have since gained in popularity. With time to kill, many people have turned to self-care treats and skincare rituals. It seems that a facemask and a bubble bath are appealing options now that going out for a night out on the town isn’t an option. Beauty sales had risen by 37% year-on-year, with referrals increasing by 64%.
Businesses Looking Ahead
While shopping centers are starting to reopen, people are becoming increasingly comfortable with shopping online. That opens up opportunities for companies to provide a relevant offering and implement an effective online referral program. Rather than sit back and watch the sales coming in, however, these businesses need to plan for the days, weeks, and months ahead. It’s those with intelligent retention strategies that will succeed in the long-term.
