The Work-From-Home Economy

Pic sourced from Flexijobs

I know that only a few of you will get to read this article. Taking a cue from the apocryphal Chinese saying, we are living in interesting times. It is really disturbing not being sure of how the future will be. With the virus out there and most people confined to basic travel and self-isolation, Work-from-Home might become the new norm. This article is future-gazing on the obvious and not so obvious impact, if working from home becomes common.

The obvious impact would be seen in the commuting sector. There will be lower demands for automobiles, cab hailing services like Uber & Ola, and affiliated categories like fuel. The demand for commercial real estate would also decrease, with more manpower for lesser commercial spaces. Remote working pods will increase.

Telecom - internet service providers would see increasing demand for data, smartphones and better computer devices that can be used for networking and collaboration would increase too. Telecom companies that offer collab services - Webex, Zoom, Skype, etc will see a spike in usage. Companies also into project management tools, security, cloud data storage too would soon follow.

Consumption of content through service providers like Netflix, Amazon Prime, Yulu, and other OTT platforms would increase. Subscription services to daily needs - grocery, snacks, CPG, through online would be on an upswing. Dining at home will be on rise.

There are other not so obvious categories that will also be impacted. Since the reason to go out will decrease, use of cosmetics will reduce; and by spending more time at home, they will get interested in other house related items - furnishings, pet products (apart from pet foods), home gardening, spending on casual wear, sportswear including athleisure. 
People will start creating a work corner in the homes. A proper work table and chair being the most basic stuff. Spending more time at home will increase interest in home decor and improvement

While work-from-home is going to be economical for both the employees and the companies, it decreases the social interactions that happens in workplaces. To make one’s life more memorable and also to compensate for the decrease in social interactions, people will go on longer and exotic holidays, impacting tourism. Also, closer home, they will want to spend time attending events like - concerts, movies, etc.

Would love to read your thoughts on work-from-home economy too

Cheers!

Santosh

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