Entrepreneurs have sensed opportunities amid the chaos of the pandemic, they have come up with thousands of new retail businesses. The US retail landscape has been flooding with new upcoming business, during the pandemic.
According to the US Census Bureau, nearly 187,000 American businesses have been registered in the first two months of 2021.
These enterprises range from venture-backed start-ups to neighbourhood boutiques to fledgeling fashion lines launched out of living rooms and garages.
Is This The New Reality?
COVID-19 outbreak has not ruined the prospects of launching luxury brands. In fact, it has pushed entrepreneurs to accept the new reality and think differently and take sustainable and charitable initiatives.
This has also pushed them to embrace digital and social media platforms for selling and promoting brand awareness. Few direct-to-consumer, sustainable fashion brands that have launched during the pandemic are, Kamopos, The Only Jane, Geraldine London, Conches and many more.
Kampos, is a luxury beachwear brand, emphasises sustainability. Their textiles are regenerated nylon yarns and plastic waste. They also allow customers to return worn garments to be recycled.
The Only Jane, offers a single jumpsuit in different colours. She claims she wanted to design something that would make women feel great.
Reasons Behind The Boom In Business During This Pandemic
Researchers and economists had listed a number of factors driving the boom. Mass unemployment at the beginning of the pandemic forced people to use their savings or take loans and start businesses out of necessity.
Others may have started a business out of boredom. Some may have hoped to capitalise on lifestyle changes during the pandemic; adding new categories such as face masks and endless demand for comfortable clothes to be worn at home and skincare products.
Read More: Indian Startup Karo Sambhav, Tackling World’s E-Waste Problem
What Is Shopify?
Turns out that setting up a business has become easier. Social distancing has forced people to shift to outline-based shops. Instagram, Facebook and other social media platforms have separate shopping categories now.
Now, a would-be-entrepreneur can pay to Shopify and set up an outline storefront and Facebook to find customers. Shopify Inc. is a Canadian e-commerce platform that allows anyone to set up an online store and sell their products.
According to Shopify records, the number of new stores on its platform has increased by 79% in the US in 2020 compared with other years.
We cannot assume that everyone has an equal opportunity or financial stability to support a new venture. A new startup requires significant capital investment and not many can afford to take advantage of loans.
But people who had enough savings or stock market money moved forward with their new creative business ideas. Some tried to gather money to fuel the renewed sense of purpose and ambition of starting their own business during the pandemic.
Brands Hopping On The New Opportunity
Many big brands decided to push ahead with their launches during this uncertain time. United sodas utilised this opportunity and leaned into the fact that their product could be shipped right to a customer’s doorstep.
Ghia, a non-alcoholic beverage revamped its soft launch strategy and focused on the online door-to-door service. Other brands like Habit and Neverland also hopped on this new opportunity.
There is never a perfect time to launch a brand. Uncertainty is given. But business owners who have come up with new startups during the COVID-19 pandemic, had to redefine their identities and goals. But it’s beautiful to see how human beings grow and adapt to every situation.
Image Sources: Bing Images
Sources: BOF, WWD, Forbes
Find The Blogger: @GhoshSohinee
This post is tagged under: Pandemic, business, home-based businesses, start-ups, funds, loans, savings, e-commerce, shopify app, shopping apps, online shopping apps, sustainability is the new trend, sustainable brands, sustainability 2020, COVID-19 Pandemic, COVID-19, Entrepreneurs, US retail landscape, US Census Bureau, enterprises, fashion, fast fashion, fashion stores, direct-to-consumer, sustainable fashion brands,
Mass unemployment, hobby, capitalise, money, lifestyle, Facebook, Instagram, financial stability, venture, soft launch strategy, online door to door service, brands, humans
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