The Coronavirus has mostly stopped the economy, and the situation increasingly looks bleak. Despite the stimulus packages in various countries, businesses – primarily those dependent on tourists - are folding up rapidly.
So, is there any business that has managed to escape the clutches of the pandemic? It turns out – yes, some have managed to cope with the situation and those few industries are doing extremely well.
10 Businesses That are Flourishing During the Pandemic
Almost all businesses have been impacted by the COVID-19, negatively, or positively. In the present context, those businesses or industries that have adopted the digital blend are not only surviving but they are doing pretty good.
But there is something more than the digital and technological side too. People need to eat and stay entertained in their homes. So, the grocery stores, wine shops, indoor game manufacturers, and delivery services are generating huge revenues even at this time.
This is a phase of global emergency, so survival has become the prime thing now. All the medical people need to stay safe from the virus and cure the people containing the virus at the same time. So, there has been a huge production and sales of Personal Protective Equipments (PPEs).
We can see all kinds of businesses creatively dealing to tackle this situation, but the traditional businesses have not faded off either. Following the social distancing rule, these 10 businesses have been reaching their audience and are doing quite well even during this situation of the pandemic.
1. Streaming Platforms
Netflix, Hulu, Disney+ have posted significant increments in their subscriber base. Over the last 5 weeks, Disney+ saw its subscriber base grow by 62%, quite a remarkable achievement. Netflix has been posting mind-boggling numbers as well. According to Recurly Inc, early returns showed that paid subscriptions for streaming TV and video jumped 32% the week of March 16.
With such a huge worldwide market, a number of different streaming services can co-exist together. The current situation has been a dream come true for all the streaming services.
People just need more content these days, so these streaming platforms have really helped people stay inside for this long time.
2. Online Education & Training Services
Khan Academy, Unacademy, edX, Alison, Coursera, and other digital education services have ramped up their user base during the crisis. Yes, some of them offer free services but a few pay for certificates. Not bad at all.
Khan Academy experienced a growth of 250% of users and the users of Unacademy also tripled. According to the UNESCO Institute for Statistics, a total of 1,576,021,818 learners have been affected because of this pandemic as 192 country-wide school closures had to be made.
Source: UNESCO
This data shows that the classrooms should go online to help students learn every day. So, online education and training services have grown a lot lately. This number could even grow in the future.
3. Communication Services
Zoom has posted big numbers recently. Zoom has now revealed that it has crossed 300 million daily Zoom meeting participants. That is up 50 percent from the 200 million the company reported, and a huge jump from the 10 million back in December.
People are increasingly turning to video conferences and video calls; schools have taken up online classes and online evaluation services. Moodle, Meet, Skype, Cisco Webex also have become increasingly popular.
Because of this pandemic, everyone is now using enterprise applications and software for communication purposes, either it is to communicate in a group or it is an individual one.
4. Video Games
A no-brainer. Video games are always popular, no matter what happens. However, with people confined in their homes, a lot of people – who didn’t play video games earlier – are trying them out.
Nintendo’s latest installment to its Animal Crossing franchise sold more than 1.8 million copies in its first three days in Japan, according to figures released by video game publication Famitsu.
Also, Activision Blizzard’s first-person shooter Call of Duty: Warzone, which was launched on March 10, noticed 30 million players in 10 days.
Although the sales of video games have been very high lately and sound okay-ish until now, something serious is going on with the production of video games and it seems like the production has almost been halted for now.
5. Publishing Companies
E-books are being bought in huge numbers, and publishers are reaping the benefits. Although the physical bookstores have been closed because of coronavirus, the ebook sales are undergoing a revival in 2020.
The education sector McGraw-Hill said that digital textbook and ebook sales were up 18% in the first three months of the year 2020. And many other ebook publishing companies have reported that the sales of ebooks have grown because of the pandemic.
6. Delivery Services
Due to strict social-distancing measures, people are increasingly shopping online. From groceries to medicines, online delivery services are having a field day right now. Even local brick and mortar businesses are offering delivery services. Delivery businesses are here to stay for the foreseeable future.
And the restaurants and food delivery services are having a golden time these days. The following graph shows the increase in the use of the food delivery service in Britain because of coronavirus.
7. Health-Equipment Manufacturer
Companies making masks, personal protective equipments (PPEs), thermometers, etc. have been finding it hard to keep up with the demand. The World Health Organization had also warned about the potential shortage of PPEs. And the result can be seen right now.
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PPE Manufacturers like Medicom are boosting production globally in response to tackle Coronavirus.
8. Grocery Stores & Supermarkets
Most people are just spending on the bare essentials – groceries, hygiene products, etc. Weforum claims that time spent indoors, however, has caused us to spend more on home entertainment and groceries.
We can not deny the claim Weforum has made. Everyone can be seen piling up stuff in their shopping carts in the stores. People have started spending on unnecessary things because of the fear of the coronavirus.
9. Liquor Stores
Liquors have been another obvious choice that people would consume a lot during the pandemic. This is the time to make merry and enjoy family time despite what is happening outside. However, with supply chains being disrupted at the moment, many companies are facing a rapidly dwindling stock.
As many bars had to be closed during this situation, the sales have increased in the local liquor and wine stores. JD Phelps, the store manager at New York City’s Vintage Grape Wines & Spirits, told Bloomberg that it had been really difficult to keep up with demand in the past few weeks with people wanting to stock up at home.
10. Indoor Game Equipment Manufacturers
Table tennis boards, pool boards, and other games children can play with are having huge sales recently. More and more people are increasingly turning to them to beat their confinement-induced boredom.
Not only adults but children also want to go out and play, so they have their own set of indoor game kits. So, the indoor game equipment manufacturers are reaping more benefits now more than ever.
In Conclusion
These 10 businesses have been doing really well even during this pandemic. So, not only the digital business is flourishing but the traditional business is doing good as well.
If you also want to develop a web app or a website or any software during this pandemic, we can be of your help. Please, feel free to contact us. We will be glad to help you.