The outbreak of COVID-19 and its rapid spread across the globe has had serious implications over health casualties and economic crises. And has brought most businesses to a standstill. But it has majorly affected the global stock markets and industries such as travel, hospitality and retail. However, despite these huge crises, there are industries that may have found an opportunity among the rising crises.
In this article, we have listed down some Industries that are thriving in this pandemic and they may keep thriving in the coming months. How certain industries will not only escape the negative impacts of the pandemic but also potentially stand to gain from it.
5 Industry Thriving During COVID-19
On rare occasions, people go shopping on these days of lockdown and social distancing. They started to think they can order this product online and get the service at their door. The COVID-19 pandemic has disrupted and impacted the daily lives of the citizens in an unprecedented manner. And at this time, the role of e-commerce in both wholesale and retail trade is something worth taking a closer look at.
Websites like Amazon and Flipkart who are providing door to door services of groceries, medicines and other essential commodities to the consumer, while upholding the rule of social distancing is coming into the force. Meanwhile, the same essential product is not available at the local Kirana store.
Health Care Industry
It is no longer a piece of news that this is a boom period for business in the healthcare industry. A lot of medical products and services are in high demand, such as Surgical masks, hand sanitizers, disinfectants, vitamins and supplements, home healthcare and medical supplies, with many health care companies struggling to meet the demand. Though saving lives are supreme in times like this.
Entertainment and Streaming Websites
Show Streaming Websites like Netflix, Amazon Prime and Hot Star are now the most profitable industries and all credit goes to this Pandemic. Although they can’t produce new shows or movies, they have their old content which people binge-watch while they are on lockdown. All streaming websites might be running out of fresh movies and TV episodes, but the engagement of daily users is increasing
Netflix has recently announced an extension for Google Chrome Knows as Netflix party, allowing people to host virtual movie nights and watch shows and films remotely with friends.
In order to contain the virus and prevent its spread, individuals across the world have been advised to practice social distancing and self-isolation. As people are forced to stay at home, they are consuming a lot of content from the social media application. Social networking apps such as Facebook, Instagram and Skype are predicted by an analyst to rise in popularity as they allow people to keep in touch across the globe.
The closing of public spaces, including gyms has also increased the demand for fitness apps, allowing people to workout at home.
The COVID-19 has resulted in schools shut all across the world. Globally, over 1.2 billion children are out of the classroom. As a result, education has changed dramatically, with the distinctive rise of e-learning webinar teaching is undertaken remotely on the digital platform. Also websites like Khan Academy, Udemy and Byju’s are seeing an increase in their subscription. People using this lockdown period to improve their skills and that the reason these websites are experiencing a sudden burst of profit in their Bank
There are other Industries as well who are thriving, but not in the rate of above-given industries. Such as The restaurant industry, Delivery services and many more. Businesses that are thriving during this time are taking a second look at how they’re positioning themselves in the market and how their current oppression can be improved upon to ensure the safety of their employees, customers and anyone else who may come in contact with their product or services.