Wow, 2020 is done, finito, kaput! Finally, Dear Readers, not a moment too soon, wouldn’t you say? But before we get excited to leave 2020 behind, this blog highlights pressure points that will continue to impact America in 2021. Keeping these trends in mind will inform how we can come together, pull our talents to rebuild the economy and our lives. Keep reading to find out the elements that warrant your attention as you shape strategic plans to reflect changes in short and mid-term forecasts.
Welcome to branding24seven, the hub for your branding questions and motivation.
In case this is your first time visiting, this blog is the brainchild of JMStrategy LLC (JMS), a boutique consulting firm that devises tailor-made plans of action to render your brand as robust as possible. Now, without further ado, let’s dive into the three-part goodbye 2020 series that outlines key takeaways to keep at the forefront of industry-specific 2021 economic revitalization efforts.
At the end of 2019, the U.S. House of Representatives impeached President Trump while Brexit talks commanded much of Europe’s attention. Japan was hard at work preparing for the 2020 Summer Olympics. Economists projected that the U.S. would enter an unprecedented level of growth. And, even though the trade war with China was likely to intensify further, this new era of prosperity would usher in a long-lasting season of full employment.
Then, the coronavirus changed everything!
No one ever imagined that a disruption at such a global scale could happen. Who would have known that the news about a flu-like malady that kept the rumor mill churning in China clandestinely in January would eventually bring the world to a standstill two months later in March?
In the ensuing months, we saw so much loss. Millions of Americans unexpectedly lost their jobs while prematurely saying goodbye to loved ones, while many more had to work from home for the first time! 2020 was truly memorable if only to teach us how to be resilient and pivot quickly to a changing world.
Related: The Best Resilience Framework To Crush Any Crisis.
Now that 2021 is here, this blog has pulled the lessons that you, Dear Readers, need to build a post-pandemic world worth living.
The best way for the travel industry to overcome COVID-19 disruptions is to adopt a subscription model.
If you are in these industries, Dear Readers, you have had a tough year! And we all know it! As local governments restricted movement in and out of every state, we’ve had to cancel a vacation plan with a heavy heart. We couldn’t even partake in any of our favorite pastimes to take our minds off any coronavirus related worries!
Dear Readers, if you are in these industries, recovery will take time. However, there is a promising trend of subscription that you should not ignore. Indeed, travel subscriptions that offer access to exclusive deals or discounts, such as Tripadvisor Plus for $99) could be an effective way to woo back travelers who might be too frightened to fly. While preparing for this end-of-the-year series, the JMS team has learned that airlines are also exploring the idea of travel subscriptions as a viable option to bring in a reliable source of revenue, albeit at a much lower price point than regular pre-pandemic transactions.
Hotels should also consider adopting a model that relies more on the guarantee of volume instead of the probability of single-use higher-priced items such as fixed room rates.
However, this model works best when you put a premium on flexibility. In the same way that hotels rent out conference rooms, they could offer urbanites who live in tighter quarters or miss going to the office rooms at a reduced daily rate. How else can urban dwellers fathom having enough energy to wrestle the nauseating smell of cabin fever they already feel so far this winter as we are deep into a lengthy lockdown 2.0. Of course, this subscription “workation” is a temporary measure as hotels are likely to terminate it by next summer as the economic activity across the nation could heat up if vaccines can successfully curb the reach of the new more contagious COVID-19 variant.
Some industry experts believe that this work from a hotel package could compete with co-working spaces. However, the JMS team does not agree. Indeed, co-working spaces are more valuable to small business owners who need to establish a legal address for tax purposes. Their long-term demands are vastly different from the needs of urbanites. Indeed, city dwellers are only temporarily working from home. They will eventually return to the office later in 2021.
Final thoughts.
There you have it, Dear Readers! Thank you so much for stopping by the blog today to read the JMS year-end wrap-up part one! What are your thoughts? Do you agree, or do you think we’ve missed anything? Let us know by email at jms@branding24seven.com or by mail at
JMStrategy LLC
21 S. 11th Street, 2nd Floor, Philadelphia, PA, 19107.
Come back this week for the next part, Dear Readers, and stay safe!
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