The coronavirus pandemic is a crisis which is involving millions of individuals and affecting the global economy as a direct result of soc
ial distancing and lockdown. As the stock market goes free while hundreds of thousands become jobless, a few businesses observe the power of having the right goods for the current situation. Below are ten industries that are witnessing promising opportunities to sustain and grow during this current state of crisis.
i. MEDICAL SUPPLIES & SERVICES For the treatment of COVID-19, medical supplies and service companies are obviously playing a major role and also driving the economy globally as the need for Pharmaceutical Material is multiplying day by day. The need for medicines, diagnostic kits, ventilators is increasing globally because of which they’re also employing many more people for production and reversing some of the unemployment stats. Other players are coming in to the market such as Dyson and Virgin Galactic to produce ventilators to match demand.
ii. TECHNOLOGY Concerning the COVID-19 outbreak, several more tech companies are winning the economy as they are driving the whole social system through their technology and helping other companies and institutions to work remotely by bringing out different resources. Zoom and Microsoft Teams are just a couple of the BIG examples. We are witnessing the accelerating use of technology, be it the video-based conferencing tools or telehealth where the doctors can diagnose the patient virtually or remote learning for schools, socialising on video conferencing and of course working - technology is serving everyone all over the World.
iii. E-COMMERCE MARKETPLACE People are moving online to do their shopping owing to lockdown. Amazon, Walmart and the other big online retail giants, as well as their smaller counterparts are all seeing a huge increase in online sales. Of course, you can just about order anything from Amazon these days and customers are browsing longer on the site. Other e-commerce companies are forecast to see a dramatic increase in their sales because of the rise in purchasing traffic. Also, analysts claim that there will be a further increase as more consumers will shift online to purchase much of the materials even after the pandemic as consumers will change their long term behaviours.
iv. HEALTH & PERSONAL CARE Health and personal care items are the biggest beneficiaries of the coronavirus epidemic. Because people are driven by societal behaviour to influence how to care for themselves and their houses and public bodies are pushing sanitisation, we are observing a massive increase in the purchase of different health and personal care items, such as hand sanitizers and disinfectant. Thus, these companies are actively working towards producing more and selling more. We also claim that these are sectors that are pushing the state’s economy through this pandemic. Sadly there are many exploiting this need and fear too.
v. STREAMING SERVICES The live streaming industry is another industry that might take advantage of the spread of the virus because more people are at home. This means that there would be a significant increase in demand for content and video services.
App download and smartphone pop-up advertising rates now show considerable effects on live broadcasting sites. The number of streaming services, such as Netflix, have experienced a massive spike in streaming as more people have streamed all the time. It could be argued that Disney took a look into it’s Evil Queen’s crystal ball as it launched it’s streaming service, Disney+ in the USA at the end of last year and Europe and parts of the rest of the world at the start of April - what good timing!
vi. GROCERY MARTS Grocery marts are experiencing the advantages and disadvantage of global lockdown, at the same time. For supermarkets, online sales have been gradually increasing over recent years but this pandemic has caused huge surges in online sales with some reporting as much as 1000% which is just as well because there physical footfall has decreased dramatically.
vii. FOOD PROCESSING - RESTAURANT DELIVERY Food processing companies such as Domino’s, Pizza Hut and Papa John’s as well as delivery companies serving these restaurants such as Deliveroo and Uber Eats are also thriving as they continue to serve the public with multiple resources in a lock-down situation. These companies aim to hire a significant number of individuals to act as a pizza maker, delivery staff, and customer service officers. Also, they are now trying to employ more workers in the supply chain and management business.
viii. ONLINE GAMING Online gaming is another sector that is exploding because of the spread of coronavirus. Online games such as Fortnite, Overwatch are likely to grow during this time as they are a source of entertainment for the Public. As more students and employees switch to remote service, they’re likely to invest a lot of time on these apps.