COVID-19 has revealed our shockingly high priority on toilet paper, but that’s not the only shortage that’s developed as a result of the pandemic. Food shortages for bread, flour, eggs and basic baking ingredients have been difficult to find on store shelves too. In response, restaurants that were forced to close their dine-in services have cleverly pivoted to offering groceries. It makes sense – restaurants frequently order and keep these goods in stock for their regular operations. While they’re experiencing a significant drop in dine-in business, why not adapt to consumer needs and offer grocery basics? It’s a resourceful way to create another source of revenue. Resourceful companies will take those lemons and make lemonade.
Another example is organizations with a surplus of medical supplies who are now lending their support to hospitals to help them combat COVID-19. For example, dental and other elective surgery offices are donating their unused face masks and PPE to hospital staff. There are several supplies used across industries that can now be repurposed or redistributed through other channels.
Consider promotional companies – you know the ones. They provide you with slick advertising signage and design the swag you might find at restaurant grand openings, giveaways at customer appreciation events, or eye-catching pens at your dentist’s office. From hats and pens to t-shirts, these companies have you (and your logo) covered. Promotional companies are also a relatively untapped resource of useful products with access to an incredible variety of goods, including household items and other necessities.
Retail giants like Target©, Walmart© and Amazon© consistently experience delays in shipping or run completely out of highly sought-after items. Because of this, promotional companies have a unique opportunity to make their own lemonade. Despite orders for business swag likely undergoing a temporary decline, promotional companies have access to a broad spectrum of goods currently in high demand by the general public. They would do well to consider making an advantageous pivot by using their inventory and resources to offer support to consumers in new ways.