As the world begins its recovery from The Great Reset, there seems to be several areas of interest and investment. Ideas and businesses that are at the top of mind of investors and businesspersons as ways to recover and sustain future success. The world awakens with changes that have presented opportunities in the economy.
The race to digital was expedited by the demand for people and businesses to stay remote. However, the overexposure to virtual and remote work-from-home experiences has also expedited the need for businesses to provide more than a digital screen. Businesses must now also provide an experience. An experiential opportunity to keep consumers interested and engaged. The businesses that survived were forced to adapt, while the shutdown forced those changes sooner and more quickly. Those changes mainly being, a move to digital and experiential.
There are three areas people and businesses should keep their proverbial eye on:
One of the largest growing businesses in 2020 was Peloton. People needed an experience while working out from home. Going forward, gyms, CrossFit-style or otherwise, and healthy eating, not to mention travel from pent-up desire will grow. Like a New Year’s resolution however, many calls for health and fitness will subside individually, but there has been a general awakening to cooking, eating healthier, and a little more self-sufficiency. On the other hand, businesses have adapted to meet the consumer wherever they are comfortable to make it easier to purchase and consume. Notice how restaurants now offer four dining options: dine-in, dine outside, takeout, or delivery. This is great for restaurants because they can reach more customers (only so many people can sit at a table inside a restaurant). Arguably, using streets and sidewalks for dinner under the sun, umbrellas, lights, and stars is something that should happened long ago (especially during warmer months and in mild climates). Outdoor dining is something all should celebrate, but it also changes the real estate needs of businesses.
2. Movie a Week
ViacomCBS owned Paramount+ leadership has stated that they plan to release one new original movie per week on their platform(s). The stated purpose being to grow the subscriber numbers for the platform. However, interest in content continues to grow especially as viewing habits have changed and will continue to change. People now find more time when working remotely to consume content and spend time with their family and friends. Expect other streamers to find creative ways to develop, produce, purchase, and distribute content to keep consumers interested.
The appetite for emerging sports has grown prior to and during the pandemic. Now that consumers have flexible work-from-home options they will be looking for opportunities to watch. This is especially true as watching and attending traditional live sports matches has become more difficult and expensive. Many opportunities abound for new markets created by past the sixteen months.