2020 will be a year to remember. The outbreak of COVID-19 upended the world and has reshaped everything. From “Shelter-In-Place” orders to businesses being temporary closed, there is no shortage of coronavirus related news.
As the world begins to adjust to the new normal and as we emerge on the other side of the COVID-19 experience, the world we live in will certainly look different. While it is still too early to say what the post-COVID-19 world will look like, here are our top 5 post-coronavirus macro-economic trends predictions.
#1: The Decline of China
Over the past several decades, China’s manufacturing dominance has led the world. Since opening its economy to foreign investment and trade in 1979, China’s economy has average an amazing 9.75% annual growth. However, that may all come to an end.
During the early days of the COVID-19 outbreak, China shutdown businesses, furloughed worked and temporary halted export of manufactured goods.
Within a short time, China has shown how much the rest of the world relies on its manufacturing might. It is not unreasonable to learn about the many U.S. companies and even some countries are beginning to reevaluate their reliance on China.
This may mean, in the coming weeks and months, China may experience U.S. companies moving their manufacturing back home.
#2: Buying More USA Grown and Made Products
As the world ground to a halt, international shipping and travel also seemed to stop. COVID-19 has shed light on the importance of buying USA grown and made products. Consumers will soon start looking for Made-In-The-USA products. Companies that can supply this will be great demand.
For example, Traverse Bay Farms, uses as much locally grown produce to make its nationally award-winning products. For example, they use Michigan-grown cherries in their cherry salsa, cherry juice and more. Our tart cherry capsules have less than one gram of sugar per serving and are a great to fight joint pain naturally.
#3: Online Shopping Will Dominate
Online shopping will soon become the norm for almost all type of items. While electronics and books always been popular online purchases, more people will look to social distancing. While items including gourmet foods, personal care, health items currently only hold 3.2% ecommerce market share, that will soon change.
Free shipping will be important to buyers. Check out our free shipping on our cherry juice, cherry capsules, dried cherries and more. Also, you can mix-and-match any items from our website and get free shipping when you order 8 or more items.
#4: The World Will Be More Digital
Learning from home, meetings from home and even prescriptions from home will soon become the new norm. As we move into a post-coronavirus world, brands are looking for more ways to connect with their customers. Many are turning to a mix of online communications including webinars, teleconference and more.
#5: Working from Home
Are employees more productive at home or in the office? Since the COVID-19 outbreak, many have been working from home. This Black Swan event, an event that total unexpected, has helped to push forward the model of working from home. Mobile phone technology and the internet has allowed this to take shape.
Check out these other COVID-19 Blog Posts:
- Top 5 Predictions for a Post Covid-19 World
- 6 Benefits to Eating Foods Made With USA-Grown Produce
- COVID-19 Update: What We Are Doing At Traverse Bay Farms to Keep Our Customers Safe
- What Will America Look Like When Shelter-In-Place Orders End?