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New York is getting back to business in the wake of the pandemic. It hasn’t been easy, but we have made it through the worst of it. With many lives lost, disruptions up and down the country, and career after career put to rest, New York has been through the wars these last 18 months.
New York is recovering, slowly yet surely, shaking off the bonds of COVID-19 and getting back to business as we know it. With this colossal shift in paradigm coming at us for the second year running, we thought it was high time we noted the up-and-coming business trends we may see in New York over the coming months.
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Business Trends Hitting New York in the Second Half of 2021
New York has its fair share of new and recovering businesses vying for a percentage of the market right now. Here’s what will be hot this year, at least in terms of office space.
1. Downsizing Is Standard
This isn’t just a New York thing. It’s a global thing. Many business leaders aim to downsize their operations due to the cuts, setbacks, disruptions, and closures brought on by the uncertainty of the last year and a half. With nobody able to securely trade, downsizing is the standard for 2021.
What do we mean by downsizing? Big offices are cutting out whole departments, laying off staff, and moving to smaller offices. Finding a co-working space New York city is the new normal since it shares overheads. Firms are scrambling to do what they can, and bricks and mortar are too. So that’s one of the most significant expenses ending.
2. Collaboration Is Free Advertising
This is referring to not just collaborating, but affiliate marketing, too. These are corporate ventures that see companies working in harmony on ad campaigns that feature them both. This halves the cost and doubles the reach. It’s simple but effective. So, be ready to see more collaborations around New York City. You might even see a rise in influencer marketing as more prominent firms ditch costly traditional advertising to switch to cheaper digital means.
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3. The Use of Independent Contractors Will Rise
More and more New York businesses are going to turn to independent contractors in the coming months. This results from the offices that are downsizing to save money. If you no longer have the space to provide an all-in-one office solution, you need to outsource some of that work. This could see local small businesses doing better after the pandemic than was previously predicted.
4. Online Is the New Marketplace
Last but not least, the businesses that can transition to be online-only and did so through the pandemic are not as likely to return to the high street as you might think. Online selling is here to stay and represents a cost-effective, easy way to reach your clients and customers. If you are mobile and travel to them, they will see this as just one more reason to stay loyal to you.
Make no mistake: New York has changed due to the pandemic, but it’s not ready to close up and stop trading just yet.
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