Coronavirus has now spread to more than 157 countries all over the world and has been declared a pandemic. The number of coronavirus cases have crossed more than 3 million globally. In India, more than 30,000 cases have been registered with 1000+ fatalities. The coronavirus outbreak or COVID-19 has affected various sectors and industries, and many companies have taken the initiative to contain the spread of the pandemic.
Apple shut down its stores in China and other nearby countries for implementing safety measures. The world's second-biggest fashion retailer H&M has also closed stores Germany and the United States, the biggest markets. It also shuttered stores in Canada, Portugal, and Belgium. In India, the aviation and railway sectors are severely strained under the pandemic with revenues plummeting to record lows. Many airlines in India are unable to generate revenue in spite of lowering ticket prices.
At the same time, the Indian railways has cancelled more than 70 trains for precaution and due to low occupancy. The consequent losses are mind-numbing and severe enough to cause heart attacks. The tourism industry worldwide has taken a severe hit. Many food chains and restaurants are struggling to sustain themselves as people are avoiding going out until and unless it’s an emergency. Not only this, several start-ups are bearing the brunt of the lockdown which is in place. In all, the economy has come to a halt and everything else to a standstill.
On the other hand, the coronavirus outbreak is aiding several countries. The Chinese government gradually shut down public services, schools and several manufacturing plants since the mid of January, giving other countries an opportunity to step up their game in segments like manufacturing . China is the largest consumer and supplier of many products in the world which include spare parts, chemical, toys, lighting, base metals, oil, etc. Many countries, including the US and European Union, import these goods from China.
Economic superpowers and behemoths are now reaching out to other countries to fulfill increasing demand. India is one such country which has seen a surge in exports in the wake of the coronavirus outbreak. Due to China's temporary lockdown, the chemical sector will be amongst the biggest beneficiaries alongside other sectors like textiles, ceramics, sanitary ware, homeware, and engineering goods.
These companies will benefit tremendously during the pandemic
Although the novel coronavirus outbreak is crashing global markets and affecting everything from air travel and the film industry to local businesses, some companies will benefit from this situation. These include firms that sell deep-cleaning products, remote services like Peloton, Zoho, video conferencing tools like Zoom, and Purell, a popular hand sanitizer brand.
According to a report, sellers of some lesser-known products also view the coronavirus as a unique business opportunity. These companies sell gadgets like air purifiers, robots, and even products like spit-shielding hats that help in combating the virus.
Now, some of these vendors are actively promoting the link between their products and Covid-19. The result is strong brand value, publicity, and booming business. Not only this, the demand for face masks has increased significantly since governments, medical experts, and doctors are advocating the use of face masks to protect oneself from getting exposed to the virus.
With people more worried about infection and germs, they are running towards disinfectant products such as hand sanitizers, hand wash, cleaning wipes, etc. People are turning to brands like Purell, Lysol, Clorox, Lifebuoy, and Dettol like never before. Consumer demand for hand sanitizers has grown by 1,400 percent from December to January.
The demand is so high that Walmart stores, retailers, and pharmacies are short on stock, e-commerce platforms such as Amazon and Flipkart are also low on supply, and products are being sold at more than double their market rates. In fact, the black market for sanitizers, disinfectant wipes, gloves, masks, and PPEs is crazy! Manufacturers aren't shying away from making the most out of the shortage of supplies. Meanwhile, even small firms selling such products are making considerable profits. It's hard to believe but the shares of Clorox and other drug makers were on the rise in late February despite the economic slowdown.
Phone and video conference software
Even technology companies are reaping massive benefits in these trying times. Many phone and video conference software and tools are in high demand because organizations have chosen to implement work from home across offices and geographies. Famous work from home software & tools include:
Webex - Web conferencing and video conferencing tool.
Zoom - Team video conference tool.
Skype - Online video calling tool.
Slack - Team Communication and collaboration app.
Zoho - Web-based business tools.
GSuite - Emailing and team communication applications.
There are several other chatting & conference platforms in the fray as well. Due to massive demand, these companies are providing additional features at lower prices. Since a large number of companies are relying on these tools at the moment, this is a golden window for the providers of these tools and software to capitalize on the demand and stand out in the market.
To no one's surprise, the demand and traffic on many online streaming platforms like Netflix, Amazon Prime, Disney Plus, HBO Max, Hulu, etc. have blown through the roof. With strict lockdown measures in place and nothing to pass time, these streaming platforms have become a necessity. Without them, spending the day becomes arduous!
Every coin has two sides and the coronavirus outbreak is no exception. While a number of organizations and companies are reeling from decline in revenues and market value, others are profiting big time and witnessing a windfall hitherto unseen.