The pandemic brings many positive domino effects. Habit formation will become an important part of the economic story of COVID-19. Four to five months is long enough to get into a new routine, and it is likely that WFH (working from home), outdoor exercise, more home cooking, and many other COVID-related types of behavior will persist beyond the direct pandemic period: habits once adopted tend to stick.
It’s too early to tell in a granular fashion how these will impact the wellness industry, but more likely than not, they will provide general impetus and a multitude of new and varied opportunities.
Take just one example: cycling. Since the pandemic erupted, changing consumer habits have driven much higher demand for bicycles so much so that it has provoked a scarcity of supply in many countries around the world (and led to a reorganization of global supply chains). This change in behavior is, in turn, being boosted through a feedback loop by governments and local authorities offering subsidies for buyers of bicycles and planning thousands of miles of cycle lanes.
A virtuous wellness circle is in the making on two wheels!