Back In Business: 3 Post-COVID Social Trends NZ SMEs Can Use To Innovate
COVID-19 impacted every aspect of NZ life. There were lockdowns and shutdowns and quarantines – and that’s just the first week! But as always, Kiwis adapted, and new social trends have emerged in the wake of the virus. It’s the perfect opportunity to break BAU and innovate. Here are just 3 of the most notable:
1) An emphasis on locally made
New Zealanders have come together to protect local businesses from the economic fallout of the virus. As we shift gears from level 4 down to level 3, 2 and 1, you may find that the new spark of Buying NZ Made doesn’t flicker out. The now-famous New Zealand Made Products Facebook page now boasts 295,000 members, and helps out those ultra-small businesses that suffered the most under lockdown. You can see the same occurring in non-retail spaces with the prediction of rising domestic tourism rates by Tourism New Zealand.
If you’re a Kiwi business making Kiwi products from Kiwi materials or providing Kiwi experiences in a Kiwi landscape, public sentiment is shifting your way. Capitalise by advertising your Kiwi-ness.
2) Online shopping as the norm
Even before the restrictions, online shopping was growing at an incredible rate. A report by NZ Post found that shopping through websites and apps was growing eight times faster than shopping in physical stores. When lockdown hit, online shopping didn’t just become ‘the norm’ – it became mandatory.
You can bet that the temporary quarantine has resulted in some permanent behaviour changes. The convenience factor will mean that a preference for online shopping will be one of them. If your business wants a slice of the $4.2 billion spent online every year in New Zealand, invest in an online shopping portal and associated delivery services.
3) Virtual experiences becoming more popular
Try this: think of something that you feel that you have to do physically, and put ‘e-’ or ‘virtual’ in front of it in a Google search. Trying on clothes? There’s an app for that. Going to an open home? Hello virtual viewing. And as any parent with school-age children can attest, e-learning was “a whole thing”.
Investment in capitalising on these social trends requires capital. That’s something that many NZ SMEs are lacking in the wake of the lockdown. We’re here to help you grow despite the downturn. Find out how GetCapital can help fund your next leap forward on 0508 438 227.