Never let a good crisis go to waste, or so the saying goes. First credited to Winston Churchill, the saying still applies today as businesses look to find opportunity in a disrupted market.
COVID-19 as a catalyst
During COVID-19, consumers have changed expectations and ways of consuming. Why not take this opportunity to shake things up? The disruption COVID-19 has caused can provide a catalyst for innovation for entrepreneurs and established businesses alike. The way people consume goods and services has changed, giving businesses opportunities to implement changes that were difficult before, but may be easier now. Imagine there is no status quo and this is moment zero. If your business had the opportunity for a new audience, how would you choose to run it? In the past, businesses may have felt obliged to meet customers' expectations due to their consistent revenue stream, but everything is different now. If you are trying to shake up your business model, look at your competition and get inspiration from others. The biggest space for opportunity right now is that consumer behaviour has changes and may never return to what we knew before.
What this might mean for your business
How can you turn the COVID-19 disruption to your advantage? Is there a certain product you've been wanting to try but not sure if it will sell? This is your chance to give it a go. Been thinking about switching to plant-based packaging? Here's your opportunity to trial it and see the response. Whatever you want to do, now's your moment. Don't let a good crisis go to waste. Information taken from The Riot Act. Read about how pet foods are leading sustainability, and how one business is making zero-waste coffee, on our blog. Article by Tallis Baker Planet Friendly Packaging acknowledges the traditional custodians of the land on which we work. Our thoughts go out to those affected by COVID-19. Stay safe.