The COVID 19 Pandemic has not just affected the health and mental states of individuals but has caused a great loss to the business and industries as well. The shops and small & medium-scaled industries are closing down because of cash crunch and radical change of consumers’ demand.
While some business sectors are going bankrupt, the pandemic is a blessing in disguise for many industries as well. However, some business sectors that are finding ways to forge ahead are as follows:
1. Health Industry
The pandemic has shifted the demand for homecare medical supplies in the healthcare industry. The supply of hospital beds for home, face masks, gloves, sanitizers, ventilator machines are in high demand globally.
People are becoming dependent on ayurvedic medicines too. Companies like Patanjali, Dabur, Hamilton Medical AG, PPE, and Detmol manufacturers are in demand and booming. Not only this, but people have become more conscious about their health and have started consuming supplements of vitamins and immunity. Due to the lockdown, people feel anxious and depressed, and they consult a psychiatrist for healthy mental health.
2. Logistics
This courier and delivery sector is experiencing a boom too as more people are dependent on online shopping.
Most of the business related to medicines, clothes, grocery, and other department is keeping up with the e-commerce so that there is still a circulation of these goods and they do not run out of business.
3. E-learning
The schools and universities are all shut across the world due to COVID-19. Due to this reason, the education system has changed dramatically and all the teachings are undertaken remotely and on digital platforms. Not only are schools and universities have gone online but due to this lockdown people are trying to enhance their knowledge.
The current employees are worried about the layoff and the freshers want to secure a job soon, so they are learning things online to increase their knowledge in various fields. E-learning forums such as Udemy, Coursera, edX have tied up with top-class universities and also have started to provide courses and certification at a very low price or completely free.
4. Telecom
Telecommunications is very important in keeping business, governments, and societies connected, especially during this hard time the world is experiencing.
The economic and social disruption during the lockdown has made people highly reliable on technology. The number of internet facility users has also increased due to work from home and online classes.
5. Software
Software like Skype, Zoom, Google meet, and slack help people connect remotely during the pandemic. The software industries are experiencing a high demand not just to keep people connected but to help businesses operate online. Due to the change in demand of the customers, it is very necessary to have an up to date software and this industry is continuing to meet people’s demand.
6. Hygiene and sanitizing industry
With the spread of the virus, people have become more conscious about cleaning and maintaining hygiene. People have become more fear-driven and to have a safe environment, they are getting offices, hospitals, and homes clean and sanitized. They hire highly qualified professionals for the same and hence this industry is in profit too.
7. Online Gaming Industry
As people are bored out of their minds and online gaming is their escape and a new source of entertainment.
Physical casinos are now going virtual and seeing a lot of players participating. Not only adults but kids are into gaming for entertainment. Nintendo and other popular gaming sites are continuing to develop new games because of high demand.
8. Agriculture industry
The agriculture industry is one of the sectors which is least affected by the spread of the virus. People are stocking grains and pulses and are more dependent on organic food. This has increased the demand for food supplies and the industry is experiencing high profits.
9. Liquor
Home alcohol consumption has risen during the pandemic because people are worried about employment status, health, and finance to support their families. The consumption of alcohol also increased because people decided to socialize and party virtually.
10. Online Streaming Services
Netflix, YouTube, Disney, amazon prime, and all other entertainment apps have seen a tremendous increase in the number of users. Their number of content developers and bloggers are also increasing and are focusing on expanding the reach as people have started watching YouTube for entertainment and knowledge purpose.
Social media apps like Facebook, Instagram, Twitter, TikTok, and House-party have become the consumer’s choice of entertainment because of social distancing.
