{"id":1807,"date":"2020-06-05T16:35:28","date_gmt":"2020-06-05T11:05:28","guid":{"rendered":"https:\/\/www.colive.in\/blog\/?p=1807"},"modified":"2020-06-25T12:11:35","modified_gmt":"2020-06-25T06:41:35","slug":"digital-the-future-of-coliving-industry","status":"publish","type":"post","link":"https:\/\/www.colive.com\/blog\/digital-the-future-of-coliving-industry\/","title":{"rendered":"Is Going Digital the Future of Coliving Industry in 2020?"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Coliving Industry is one of such industries that have suffered the losses harshly amid the ongoing COVID-19 pandemic. The Coronavirus or the COVID-19 had its origin in China\u2019s Wuhan but it still continues to make waves and negatively disrupt the various economies across the globe. The pandemic has been declared a global health emergency that has not only affected the lifestyles worldwide but has forced many businesses worldwide to change their strategies.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Though a new concept of community living of like-minded individuals, living together in a shared space, the coliving industry still has a long way to go. But a worldwide health emergency that started back in December 2019 in China too has the potential to become a major obstacle, coming in the way of all major businesses either in <a href=\"https:\/\/www.consultancy.in\/news\/3091\/tough-times-ahead-for-indias-real-estate-sector\">the real estate sector<\/a> or in the niche of the Coliving Industry. Though the growth of the industry has been lopsided for a couple of months, yet it has the potential to get back on track quickly and mitigate the losses suffered in the wake of the COVID-19 crisis. The Coliving Industry in India will benefit post the phase of lockdown because of reasons like,<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Home seekers looking out for a clean and hygienic place to stay instead of a cheap place to stay, lacking enough safety and hygiene post lockdown.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Landlords and PG owners unable to provide tenants with adequate means to live in a hygienic home.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Especially the millennials will now put more focus on homes with facilities to work from home effectively and will consider them their obvious choice.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Millennials will now want to stay close to their workplaces as commuting to far distances wouldn\u2019t be considered safe.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Other businesses will look forward to partnering up with players in the Coliving Industry, considering them a business continuity plan.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Real Estate agents and developers will now consider converting their inventories into Coliving spaces in order to bring in more revenue.\u00a0<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Read More: <\/span><a href=\"https:\/\/www.colive.in\/blog\/2020\/05\/04\/10-things-favouring-coliving-industry-post-lockdown\/\"><span style=\"font-weight: 400;\">10 Things Favouring Coliving Industry Post Lockdown<\/span><\/a><\/p>\n<p><span style=\"font-weight: 400;\">So these were the top things favoring the Coliving Industry to get back on track post the phase of lockdown. Talking about the ways in which the health crisis and lockdown the nation suffered for two months, changed our lifestyle, there are many.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Firstly, most of us, as customers, have now become comfortable enough to online transactions, easily communicating over online video interaction platforms, and have adapted these in our lifestyles. Though this may fuel up the ineptness especially among the introverts, this is actually an opportunity for the Coliving Industry to progress past the phase of lockdown.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Secondly, with customers now being used to digital interaction, industries like the Coliving Industry can easily leverage this for enhancing the interaction on digital platforms and generate more revenue.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Despite the many benefits that the Coliving Industry has from the potential to gain from the new trend of digital, the biggest question that remains unanswered now is whether the key players in the industry should adapt to the new trend or settle back to the older one, post the lockdown? What we mean to say here is should the Coliving Industry adapt to the newer trend of digital innovation or should settle back to the older means of bringing in revenue? Let\u2019s try to answer these queries down below by comparing the two strategies.\u00a0<\/span><\/p>\n<h4><span style=\"font-weight: 400;\">The Older Strategy<\/span><\/h4>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-1808\" src=\"https:\/\/www.colive.in\/blog\/wp-content\/uploads\/2020\/06\/5-1024x682.png\" alt=\"Visiting Property in Coliving Industry\" width=\"696\" height=\"464\" srcset=\"https:\/\/www.colive.com\/blog\/wp-content\/uploads\/2020\/06\/5-1024x682.png 1024w, https:\/\/www.colive.com\/blog\/wp-content\/uploads\/2020\/06\/5-600x400.png 600w, https:\/\/www.colive.com\/blog\/wp-content\/uploads\/2020\/06\/5-300x200.png 300w, https:\/\/www.colive.com\/blog\/wp-content\/uploads\/2020\/06\/5-768x512.png 768w, https:\/\/www.colive.com\/blog\/wp-content\/uploads\/2020\/06\/5-696x464.png 696w, https:\/\/www.colive.com\/blog\/wp-content\/uploads\/2020\/06\/5-1068x712.png 1068w, https:\/\/www.colive.com\/blog\/wp-content\/uploads\/2020\/06\/5-630x420.png 630w, https:\/\/www.colive.com\/blog\/wp-content\/uploads\/2020\/06\/5.png 1280w\" sizes=\"auto, (max-width: 696px) 100vw, 696px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">Initially, most rental industries like the Coliving Industry used to bring customers using either online platforms like websites or mobile apps or via offline campaigns like posters, leaflets, and banners. The process was simple too first engaging the customers via the means above and then inviting them for a property visit, where they could actually the amenities and other necessary things like ventilation and sunlight through their own eyes. This would be followed by the potential customer either converting or leaving the property. But the advent of COVID-19 and the lockdown following it negatively disrupted this conventional act. With consumer safety being of the utmost importance in the ongoing health crisis, the players in the Coliving Industry now face the unique, ubiquitous challenge of either adapting to the new means in a highly competitive market or face the harsh reality of bearing heavy losses.\u00a0\u00a0<\/span><\/p>\n<h4><span style=\"font-weight: 400;\">What\u2019s New for the Coliving Industry?<\/span><\/h4>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-1809\" src=\"https:\/\/www.colive.in\/blog\/wp-content\/uploads\/2020\/06\/4-1024x682.png\" alt=\"Innovative Measures Coliving Industry Should Take\" width=\"696\" height=\"464\" srcset=\"https:\/\/www.colive.com\/blog\/wp-content\/uploads\/2020\/06\/4-1024x682.png 1024w, https:\/\/www.colive.com\/blog\/wp-content\/uploads\/2020\/06\/4-600x400.png 600w, https:\/\/www.colive.com\/blog\/wp-content\/uploads\/2020\/06\/4-300x200.png 300w, https:\/\/www.colive.com\/blog\/wp-content\/uploads\/2020\/06\/4-768x512.png 768w, https:\/\/www.colive.com\/blog\/wp-content\/uploads\/2020\/06\/4-696x464.png 696w, https:\/\/www.colive.com\/blog\/wp-content\/uploads\/2020\/06\/4-1068x712.png 1068w, https:\/\/www.colive.com\/blog\/wp-content\/uploads\/2020\/06\/4-630x420.png 630w, https:\/\/www.colive.com\/blog\/wp-content\/uploads\/2020\/06\/4.png 1280w\" sizes=\"auto, (max-width: 696px) 100vw, 696px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">There are many who talk about the negative impact of COVID-19 and lockdown like less conversion of customers as most of them stay at home. But like we discussed above, staying home at all the time has actually helped the Coliving Industry gain a number of customers whom they can deal with online easily. These customers now are used to making online transactions and players in the industry can now easily interact digitally with them. This has now become a golden opportunity for the Coliving Industry post the lockdown despite facing a lopsided growth for the past couple of months.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">New ways to bring in more customer interaction can now be developed especially for the rental industry like a video walkthrough of the property, app walkthrough, 3D walkthrough, and 360 degrees view of the property. This will be beneficial both for the industry players as well as the customers. The industry players can now easily interact with their customers and give them a view of the property within the comforts of their home. And, the customers can now easily look for a feasible property either on the website and app and wouldn\u2019t need to step out of their homes while the outbreak of COVID-19 continues.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The players can now harness deeper engagement with video calls and giving their potential customers a virtual tour of their properties. Today\u2019s customers are truly keen observers and will look into all key prospects and amenities your property provides like cupboards, the number of drawers, the kind of flooring, proper ventilation and even the most minute details which couldn\u2019t be covered through the older strategy but adapting to the newer prospects, you can actually hook-in happy and contented customers.\u00a0 Moreover, talking about engagement, the Coliving Industry can easily make it better with their targeted customers virtually. It won\u2019t require only require the potential customers moving out of their homes to visit the property physically and would thus keep them safe from the ongoing health crisis, generating revenue for the industry players at the same time. Lastly, much-like the media industry, Coliving Industry can also interact with multiple users, bringing engagement via video calling, 360-degree walkthrough, and 3D Walkthrough, via app or website.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This won\u2019t only be a revolution for the Coliving Industry, who were earlier facing a lopsided growth amid the COVID-19 crisis and lockdown but will also prove fruitful to their potential customers with a better experience within the comforts of their home. Earlier where the process of engaging customers, showing them the property physically through agents and waiting for the customer to book an appointment via token money \u2014\u00a0 everything was a complex process both for the industry players and the customers, the advent of technology has changed the full experience. The COVID-19 pandemic and the ongoing lockdown were not less than a nightmare for the Coliving Industry which seemed to be facing severe losses as a result of less customer engagement with them staying at their homes. But with customers now adapting to the recent trends of online engagement, transactions, and interaction, the industry is all set to rise up post the lockdown, stronger and mightier than ever before!\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Such is the belief of Colive too, which is a key player in the Coliving Industry. It has sustained through the ongoing health crisis and looks at the positive key points and a bright future ahead. The app and website of Colive help home seekers with an interactive experience by deploying a 360-degree walkthrough of Colive properties across Hyderabad, Bangalore and Chennai. They can evade all their woes of a clean, hygienic, and well-maintained spaces in the ongoing crisis and find the best homes, matching their expectations and needs.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">We at Colive have never compromised with the services offered to our residents even during harsh times like the pandemic of Coronavirus. In the wake of COVID-19, where once it was reported that most PGs and apartments were asking employees to vacate their rooms for safety, Colive still cares for its residents and doesn\u2019t want them to stay unsafe during the ongoing health crisis. We have taken a number of steps to maintain hygiene at all our properties with dedicated ground staffs and delegated a 24&#215;7 Emergency Response Team (ERT) to help the residents in case of any health emergency across Bengaluru, Hyderabad, and Chennai. Moreover, to facilitate our residents in working from home, we are offering them a high-speed internet and coworking spaces for an efficient WFH experience. Visit <\/span><a href=\"https:\/\/www.colive.in\/Bangalore\"><span style=\"font-weight: 400;\">the website of Colive<\/span><\/a><span style=\"font-weight: 400;\"> to know more!<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Coliving Industry is one of such industries that have suffered the losses harshly amid the ongoing COVID-19 pandemic. The Coronavirus or the COVID-19 had its origin in China\u2019s Wuhan but it still continues to make waves and negatively disrupt the various economies across the globe. The pandemic has been declared a global health emergency that [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1810,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"tdm_status":"","tdm_grid_status":"","two_page_speed":[],"footnotes":""},"categories":[27],"tags":[414,401,416],"class_list":{"0":"post-1807","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-coliving","8":"tag-coliving-industry","9":"tag-coronavirus","10":"tag-lockdown"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\r\n<title>Is Going Digital the Future of Coliving Industry in 2020? - Blog - Colive<\/title>\r\n<meta name=\"description\" content=\"Amid the COVID-19 crisis and lockdown, the real estate sector suffers widely. 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