Potential Millennial Business Models for the Next Normal in Dubai

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The COVID-19 pandemic has changed the world in more ways than one. As global trade and commerce came to a sudden standstill, adapting to the new normal was a tough task both in personal as well as professional life. A fast-pacing, multicultural city like Dubai was not any different as many business sectors faced an unexpected fall and many companies feared dissolution. New models and methods had to be adapted for various professional sectors in the mainland so as to stay relevant and afloat in these changing times. These novel models have thus become the new normal in Dubai, effectively replacing the traditional methods of doing business.

E-Commerce

One of the most important transformations is in the field of trade and commerce as the traditional systems of marketing, buying, transporting, and selling ceased in Dubai during the course of the COVID–19 pandemic. Various business enterprises in the mainland sought the help of digital platforms to carry out their dealings, thus making website development and E-Commerce the most relevant systems of doing business. Moreover, the E-Commerce platforms not only help marketing goods and services but also makes the system of trade and transactions easy and remote.

Online marketplaces

Online marketplaces are considered to be one of the most profitable service models in a pandemic-affected world. Big brands in Dubai have established their stores online, enabling the goods are services to be cheaper and easily accessible. Local stores, as well as SMEs in the city, are now able to carry out their services with ease, especially when transportation of goods and services is at a standstill.

Online advertising and marketing

Online marketing is definitely the new normal of doing business in Dubai. Through website ads, Email Marketing, and Search Engine Marketing, and so on, brands are able to reach their products and services to more people without investing in banners, flyers, or brochures.

Virtual Platforms 

The advent of streaming platforms and virtual networks has enabled people to collect and share information from the comfort of their homes. Virtual communication platforms enable face-to-face interaction between people, whatever the crowd size be. Moreover, these platforms could be used to conduct events and other interactive sessions.

Read more on: What is next for business in Dubai?

Digital Ecosystem

Digital ecosystems are a group of interconnected service platforms offered by brands and companies catering to the diverse needs of their target audience. These systems include trading, marketing, and advertising goods and services through various digitals systems and network providers.

Subscription and On-Demand services

Subscription models are millennial business models where the users are charged a regular fee for the services provided, often automated by connecting directly to customer’s bank accounts.

As the world transforms itself to accept the new normal, trade and commerce are also subjected to changes so as to stay relevant with their customers. Novel models and approaches are very important whilst starting a new business so to stay on top amidst the competition. For the past 17 years, Flying Colour Business Setup has been helping clients set up their businesses in an easy and hassle-free manner. Please feel free to mail your queries at info@flyingcolour.com or contact us at +971 4 4542366.