Where is the Money? Post COVID-19 Business Opportunities
Since the Covid-19 pandemic hit, we are waiting for the market response to these new business conditions. We have taken a deep dive into this issue with reports from Nielson and RBC Economics to get a pulse of what is happening. We are entering into phase two in what we can call the “Medical Double” check phase as governments re-open the economy. We cannot be cavalier about re-opening as we have learned in the USA openings has caused spikes and some have occurred in Ontario already.
We must be reminded the incidence of COVID-19 in Canada is one of the lowest in the world and our officials are doing a great job in containing the virus. This smart risk approach hopefully will have better outcomes than a more cavalier risk taking seen in some USA states and in Brazil. We will have to wait for a universal cure all containment strategy to emerge.
Life in the New Normal
Here is a preliminary look on the business opportunities that still exist during this pandemic. The change in consumer and business spending caused by social distancing that will be part of the new normal will dictate who succeeds. It is important that business move and pivot when these trends emerge. Lets looks a few categories.
Outdoor Activities – Non-team sports will flourish like golf, jogging, walking, cycling, boating , fishing, camping. Bike manufacturers cannot keep up with demand.
Health Protection – Purchase of personal protection like face mask and shields. Masks in the public is being adapting in some jurisdictions. Wearing a mask helps keep other people feel safe which is very important.
Virtual Events/Parties – Virtual events can be held for wedding and funerals as large indoor and outdoor gatherings are not allowed. Services like Zoom are the new norm for family gatherings. Spectator events like pros sports have gone to a live studio model for broadcasts, but it may appear it may be a lost cause as infections have shown up in athlete testing.
Staycations – Due to travel restrictions staycations will increase in each province with multiple day trips. The Metro Toronto Zoo is now having 75 min car safaris on their premises. Day trips will be see a spike as people need to get out. Not everybody has access to a cottage.
Office Products – Companies will need to build a permanent infrastructure for remote workers that is safe and secure and provide personal safety protection for workers. Daily sanitation and dis-infection services of facilities will be required
Education – Online learning for schools will become the norm with rotating smaller classes in-school to maintain social distance planned for the fall. Teachers will now need to wear masks and gloves when interacting with young children and classrooms will need to be sanitized each day.
The winners we know are some companies that are seeing a surge in sales and they are hiring and they are in the following sectors according to this Linkedin Hiring Report
- InkSmith is hiring over 100 employees as it ramps up production for face shields for the nation’s healthcare workers.
- Babylon Health is hiring 200 employees in Vancouver and Toronto for medical positions.
- Apotex is hiring 130 workers across the organization.
- Alberta Health Services is hiring over 550 positions.
- Dialogue is hiring over 600 healthcare professionals in Canada.
- Sienna Living and LT care health facility is hiring over 500 positions across Canada.
Food and Beverage
- LCBO is hiring over 500 positions across Ontario.
- Food production company Exceldor is hiring 60 positions in Québec.
- Pepsico Beverages Canada is hiring 500 positions including delivery drivers, warehouse workers and manufacturing employees.
- Metro is hiring full-time and part-time employees for its distribution centers and grocery stores across Canada.
- Save-On-Foods and Loblaws are also hiring temporary positions across their grocery stores.
- Slack is hiring software engineering employees in Toronto and Vancouver.
- SOTI is hiring over 50 positions.
- VON Canada is hiring over 400 positions.
- Video game developer Ubisoft is hiring over 140 positions in Montreal.
- Nordia Inc. is hiring more than 300 customer service specialists.
- Customer service and tech company 24/7 Intouch says it is hiring 400 customer service representatives.
- Online grocery Goodfood announced it will hire 500 positions in accounting, technology and warehouse operations.
- Instacart and Online Grocer said it would hire 300,000 contract workers across the U.S. and Canada over the next three months.
- SSENSE a women fashions site is hiring around 600 positions across its distribution center and customer service teams.
- Shopify announced it is hiring 1,000 workers for its new Vancouver hub.
- Amazon is hiring 1,000 workers at its fulfillment centers and delivery networks across Canada.
Brick and Mortar Retailers
- Dollarama says it is hiring 25,000 workers in the coming months to keep up with increased demand.
- Walmart Canada is hiring 10,000 employees to meet the nationwide exploding demand for household staples.
- FNX-INNOV and engineering firm is hiring over 100 positions across their 15 offices in Canada.
- The Société québécoise des infrastructures is hiring 100 positions across Quebec.
Happy hunting for the next big one for your company to help it pivot during these challenging times,