This is a guest post by Kayleigh Alexandra, a writer for Micro Startups.

Trying to predict the economic future is a fruitless task. The truth is, like so much surrounding coronavirus, we have no idea what’s going to happen next.

This virus is an unprecedented scenario for the modern world, one that has fundamentally changed how we live and work, unlike any major disaster or market crash before it.

For those of us brave enough to make predictions there are some signs of who may make it through this crisis in good shape, possibly better than ever before. If you’re an entrepreneur looking for a new avenue to pursue or simply curious about the economic landscape of a post-COVID world, here are the business models we think are set to not just survive, but thrive.

Ecommerce

The death of the high street has been a long and painful one. If you live in a typical town or city, chances are you see a fair amount of empty stores. Once institutions of the shopping experience, these brick and mortar stores have long been replaced by a faster, more convenient form of retail, ecommerce. As the coronavirus ravages through countries and forces stores into permanent closure for the foreseeable future, online retail may be about to deal its final blow.

A post-COVID world will retain many of the hangups and precautions as the one living with the virus. We shouldn’t expect retail to resume business as usual once lockdown precautions are lifted. Social distancing measures will likely remain in place and the average consumer will be more cautious about entering small stores full of people.

This will ultimately push people towards shopping for more non-essential goods online than ever before. This fear, coupled with increased awareness of the convenience of online shopping will make shoppers heavily reconsider their habits.

Despite the slow death of physical stores, there exists a subsection of consumers looking to shop primarily with independent, particularly more sustainable, retailers. There exists no better space for these types of smaller stores to thrive than ecommerce. Retailers can sell their wares and creations through a virtual store, cutting out the need for a brick and mortar location and the costs that come with it.

To a further extent, dropshipping presents an opportunity for budding retailers to run an ecommerce store without a stock room, with products being shipped directly to the customer from the supplier (here is a helpful guide, if you’re unfamiliar with the practice). This cuts out any fear of contamination and allows stores to make their products cheaper, further appealing to the mass market.

Ultimately, shopper’s desire for convenience will rise above. Ecommerce presents safety, speed and quality without ever having to leave your home, an idea that has taken on new meaning in recent months.

Software as a service

Other than ecommerce, the big winner of the coronavirus pandemic has to be communication software.

No longer are we just texting in between real-life conversations. Coronavirus has restricted all interactions with loved ones, beyond who we live with, to behind a screen. While the circumstances are unfortunate, this is one of the best things to ever happen to the communication side of the software as a service industry, having presented a huge portion of consumers with significant time to get used to the product and processes.

Once lockdown measures are lifted, don’t expect everyone to suddenly give up their regular video chats. Many people will still not able to travel and see their loved ones and some communication will continue to be restricted to virtual realms. An entirely new portion of users have been introduced to the concept of communicating in this fashion, and, virus or not, it will become part of their daily routine.

This is without mentioning the businesses that will be fundamentally changed by the coronavirus. If they’ve managed to get through this period working remotely, many businesses will be reluctant to instantly return to their regular offices, making these tools essential for a bit longer.

Likewise, many companies will be keen to future-proof their business for a second wave or future pandemics, resulting in an upturn in businesses who are not just training with these tools but using them as frequently as possible. Many industries have been introduced to the concept of holding meetings via video conferencing tools and communicating across internal messaging services, and they’re not quite ready to go back.

Subscription models

Entertainment is streamed in the age of lockdown. As if subscription-based services didn’t dominate our entertainment in-take enough, platforms such as Netflix, Spotify and Amazon Prime have become almost essential for avoiding boredom under lockdown.

Much like the other models we’ve touched upon, more people than ever have been exposed to and gotten a taste of subscription streaming models. This kind of exposure is sure to carry over to post-COVID life, either through forgotten subscriptions or an increased interest in the content these platforms produce. This could lead consumers to try out competitors, spreading money across the industry, great news for new platforms such as Disney+.

Post-COVID life will be economically difficult for many people, and consumers will be forced to make smart decisions about their monthly output. Entertainment and the arts will be about getting the most for your money when it comes to the average consumer and these platforms offer that significantly more than the theatre-going experience.

It is possible we will see more of these subscription platforms opting for the freemium model. Freemium offers give users access to your content free for a month before asking for payment to retain access subscription. In a cautious, economically-tight post-COVID world, people will want to test before committing.

Where many industries sit after coronavirus is a mystery yet to be seen, but there is a strong suspicion that these models, which have thrived under the virus, will become all the more essential to post-COVID life and continue to thrive.

This is a guest post by Kayleigh Alexandra, a writer for Micro Startups.

About Kayleigh

Kayleigh Alexandra is a writer for Micro Startups, your online destination for everything startup. She’s passionate about hard-working solopreneurs and SMEs making waves in the business world. Visit the blog for your latest dose of startup and charity insights from top experts around the globe @getmicrostarted.