A topsy-turvy economy, in-tatters stock markets, halted education, overhauled social dynamics - the pandemic has had a leviathan impact on all things life, globally. The Indian economy contracted by 23.9% in Q1 2020 – 21, for the first time in 24 years, when lockdowns nationwide were at their strictest. However, this situation also has its silver lining. While Covid-19 has caused significant disruptions socially and economically, it has also birthed newer business opportunities. From IT innovations to old trends making a comeback, the current situation is replete with products, ready to be a huge success as lockdown gradually comes to an end. And people are already gearing up to leverage these - with scores of individuals seeking out business loans to capitalise on the fresh opportunities adequately.
Products Set To Be A Success After Lockdown
Although the pandemic has engendered and driven demand for several products like hand sanitisers and face masks, the focus here is on the newer entrants. These include –
1. Anti-Bacterial Fabric
Who knew that one day there would be fabrics fighting against viruses and bacteria? Well, that’s a reality now, realised by an Israel-based start-up, Sonovia. This cloth material is proven to be effective against the microorganisms, and Israelis are already using it to weave garments and masks for their health practitioners. You can import the fabric and use it to make masks and clothes or simply sell the material to local garment producers. Both initiatives hold immense potential, and can be leveraged to beat the demand for regular masks. To kickstart your venture or for working capital requirements, you may consider taking out a business loan. That way, you can ensure that there’s no shortage of funds, when the demand increases.
2. Anti-Corona Car Shield
Although Uber, Ola, and regular cab services have recovered to some extent from the blow of lockdown that started from mid-March, people are still reluctant to avail them for regular commute. An anti-corona car shield is a blessing in that context, ensuring passengers of greater safety. A Gurgaon-based start-up, Droom, came up with this solution, and the product is expected to be a huge rage among cab services, and also individual car owners. The anti-microbial coating makes sure viruses, algae, and bacteria are rendered ineffective. If you are already running a business, you can utilise invoice discounting as a source of funding to partake in this endeavour. This financing option is particularly beneficial if your customers are asking for prolonged payment periods in the backdrop of the current economic scenario.
3. Packaged Food
Packaged and ready-to-cook food items are making a return and how! Although restaurants are opening up across the country, the numbers of visitors are still considerably sparse. People, the more cautious ones, are relying on packaged food for now to minimise health risks. In fact, the food and beverage packaging industry in India is estimated to clock a CAGR of 29.88% over 2020 – 25. The demand for packaged food has been more pronounced among the younger generation, particularly individuals that live away from home for work.
4. Immunity Boosters
Building immunity has been the most dominant theme throughout the pandemic. Naturally, immunity boosters, like Chyawanprash and honey, are in massive demand nationwide. Dabur alone clocked a 7-fold rise in demand for Chyawanprash and a 60% growth in demand for honey in Q1 2020 – 21. It’s a hugely promising market at this point, and with winter approaching, more and more people will now turn to these immunity boosters. So, you may consider stocking up on these items so that your customers don’t deflect to your competitors. You may also consider a business loan or invoice discounting facility, if you are a wholesaler or distributor to meet the demand, without straining your cash flow.
5. Air Purifiers
Several studies have shown that Covid-19 is airborne, and it’s a real concern for indoor spaces since there is limited air circulation. This is a promising ground for air purifiers with the unlock procedure underway, as several states have allowed theatres and other public gathering spaces to gradually open. With the demand for these items expected to rise after the lockdown ends, time is now ripe to venture into the production of these to maximise profits. In this regard, opting for business loans or availing invoice discounting can help you avail the capital necessary for the undertaking.Bottom LineBusinesses all over the world suffered immensely when the lockdown began, with individuals becoming more conservative in their spending. Shifting consumer priorities have prompted a change in the pattern of market demand, and as lockdown gradually comes to an end, people will be turning to products ensuring their safety first. It’s essential to be perceptive in this condition and capitalise on the demand promptly to acquire an edge over your competition. A business loan makes the process more manageable in this regard, allowing you to leave no stone unturned.
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