The Covid-19 pandemic threw the entire world for a loop. Lives changed, societies changed, and businesses had to sink or swim based on how well they could adapt to the new world. Never has creativity been more important for businesses of all kinds from all sectors. Virtually every niche has been affected, and the ones that survived were able to leverage technology to find innovative solutions to succeed during the pandemic. Here are some examples from three different sectors to show how innovation was the key to staying afloat when the world had changed.
Retail Sector: Gem Show
Coronavirus was a big blow to many retail stores, especially small businesses. Not only were customers no longer able or no longer willing to come in and browse, but many also were not able to afford the investment in safety measures and PPE. Consumers flocked to online shopping like never before, and the giants like Amazon were raking in revenue while the little guys were getting left behind.
Many retail stores chose the route of offering different services, like delivery or curbside pickup. These were necessary steps for a lot of retail businesses, but it still didn’t bring in the customers a lot of them needed. Customers couldn’t see what they were buying, and were hesitant to pull the trigger on an unknown entity. They were much more comfortable buying from established big boxes.
Moriarty’s Gem Art, in Crown Point, Indiana, decided to do more than just provide a different way for customers to pick up their goods. They provided a different way for customers to see their goods as well. Right at the beginning of the pandemic, when customers stopped coming, the staff realized they had a lot of time on their hands. They chose to take the opportunity to do something they’d wanted to do in the past but did not have the time for. They started livestreaming gem shows to the public using YouTube Studio.
The effect ended up being much more than a way to show off their inventory. It became a way that they could connect with their audience like never before. A thousand people are watching each show, and the company is selling up to $20,000 worth of merchandise at each one. Their customers are able to get a glimpse into the origins of their gems, and the store is able to get a sense of what their customers truly want through the communication and comment portal. This opportunity may not have been possible had the pandemic not struck.
Entertainment Sector: A Whole New Experience
The entertainment sector was also hit hard by the pandemic. Even in places where there weren’t and aren’t lockdown recommendations in place, people are staying home in droves. Bars, restaurants, nightclubs, movie theaters, and any other cultural and entertainment niche businesses are laying off staff, closing their doors, and seeing their revenues plummet. Unfortunately, many of these businesses will not survive far into 2021.
Three entertainment companies in Vancouver, Canada, wanted to create a social experience in a physically distanced world. The Beaumont Studios, Go2 Productions, and Innovative Lighting created an immersive, month-long Halloween event that gives a safe and touchless experience that still provides the scares. They used the Beaumont studios as a haunted house, and created a frightening world using lasers, sound, and optical illusions. A big part of the experience is using projection mapping to create eerie objects and a creepy atmosphere. Safety measures were also in place, such as participant bubbles and sanitation stations.
These three companies learned that they would have to innovate together and combine their technological forces to create a brand new experience for people who are starving for entertainment outside of their homes. They used their creativity, and the tools they had at hand to artistically build a fun and safe way for people to have a shared experience while still being physically distanced.
Transportation and Logistics Sector: Efficiency and Adaptability
One sector that did not see a drastic drop at the beginning of the pandemic was transportation. Trucking hit a high during the spring of 2020 as consumers started purchasing as much as possible online. Not only that, but with panic buying of certain items like toilet paper and hand sanitizer, more trucks than ever were on the road.
Transportation companies, however, had to adapt quickly. Most had to dispatch agents who worked in an office or a call center, and other employees who would manage contracts and bids. Things were changing so fast, and many were at capacity, that they had to manage more bids and shop for rates quickly. On top of that, they had to do all this while their staff moved to remote working situations, and they had to deal with changing their shipping procedures to accommodate social distancing and other safety measures. It was very challenging for the transportation sector.
SM3 is a company that provides software solutions to transportation companies. They quickly adapted their products to provide the ability for their customers to do as much as possible online. They can assess bids, see the location of their fleet, audit their capacity of full and partial loads, and easily shop for the best rates.
As the rush of the spring has subsided, transportation companies are seeing a drop off in their volumes. This has caused many companies to reassess their usual operating procedures, and seek out more affordable and efficient solutions. SM3 is able to offer those solutions and allow transportation companies to be leaner and more efficient as times get tighter for them as well. These solutions are a benefit to their clients when times are booming and hectic, when times are tough, and in the long-term as the market fluctuates. They were able to see an opportunity and take advantage.
There are far more industries than just those named above that can benefit from technology. Even industries as niche as the currency exchange industry can do so.
Even a decade ago, a pandemic like Covid-19 would have been a death knell for a lot of sectors and businesses that are now able to survive and thrive. Technology and innovation has made it possible for companies to reinvent how they operate and find new ways to achieve success.
