The sudden outbreak of the Covid-19 pandemic has left no industries and sectors unscathed, worldwide. And many parts of the economy have taken a hit because of it.
While the pandemic has created global economic uncertainty, it has also proved to be lucrative for some industries and created new markets and opportunities. In fact, some of them are seeing more business than they ever have. The world has changed, for now, and so has the needs and wants of consumers.
These are the companies that are thriving even in these unprecedented times.
Online Training & Education Services
The coronavirus pandemic has led to the shutting down of schools, colleges, and other educational institutions. This has given rise to online home-based learning, using digital platforms. This has led to the acceleration in the integration of information technology in education, where online education has become an integral component of school education.
The increase in demand for the online training and education sector can lead to aggressive hiring. Even for those without any teaching qualifications, apart from tutoring, there are a plethora of jobs in this sector, like designing, communicating, software engineering, etc.
While people are forced to stay in homes due to the inescapable lockdown, they are now spending more time and money on redecorating and refurnishing their houses. They want to decorate every corner that seemed imperfect to them earlier but couldn't buy time to take care of it.
Now that people spend every day, all day staring at their home, they are finally purchasing home decor products like potted plants, wall art, accent pillows among others.
The lockdown in various countries have severely diminished global production capacities and disrupted global supply chains. Food agencies over the world are planning to have the majority of the food produced locally by harnessing technology, increasing the amount of space dedicated to farming, and supporting local agriculture.
To scale up operations and meet the surge in demand for locally-produced crops, job opportunities in this sector are fast-growing. These jobs include horticulture technician, farm engineer (specializing in robotics and automation), an events executive for the marketing side of things, and the like.
Health has become a priority more than ever. With deaths due to the coronavirus all around the corner, people are threatened and so they are prioritizing health issues above all. Pharmaceutical companies have added a surge of openings in the lockdown.
Home Fitness Equipment
Lockdown has enabled people to fulfill their long-forgotten or neglected fitness goals. While others want to maintain their form just like before the pandemic. But the closure of all gyms led them to boost the sales of home fitness equipment. As a result, many fitness enthusiasts and newbies are spending not just on yoga mats and small weights, they now want professional-quality home gym equipment, so their workouts don’t suffer during this quarantine.
Courier Pick-Up and Delivery Services
The delivery and pick-up industry is the most profitable in the coronavirus pandemic. Not only are people ordering food online, but they are also increasingly ordering essential groceries and other food items. Because of the fear of catching corona, people nowadays do not want to step out of their houses, especially in metropolitan cities. Hence, the delivery service is the need of the hour.
There are so many relevant employment opportunities included in this industry apart from being a delivery driver. From data analysts to UX designers to account management staff, there are plenty of well-paying choices for qualified jobseekers within the industry.
With physical call centers and operation centers closing down, companies are left with the need for agents to still take customer and technical support calls. Especially with the increase in remote work, more people than ever need support with setting up and pairing devices or troubleshooting errors.
Self-Care is trending nowadays. In response to the emotional stress of this time, many people are putting in a little extra effort with pampering themselves with skincare products. Many people also want to make sure they still look just as young and vibrant as they did entering this pandemic when they exit it. As a result, the skincare industry is on the rise.
Telecommunication has been on a steady incline for the last 5 years. As more states try to practice safety at home and maintain social distancing, companies have transitioned almost fully to remote work. In order to successfully enforce a work remote culture, employees need a broader reach through video conferences, online meetings, chat, and mobile collaboration services. This implies that telecommunication has been on a steep and sudden incline with teleworking software as the foundation for this new workplace model.
Augmented Reality Software
The retailers who are surviving this pandemic must adapt, and for many, that means turning to augmented reality (or virtual reality) software. Due to social distancing, everything has drifted online. Furniture companies are now creating apps to allow customers see how a chair might look in their living room. Realtors are offering clients apps that allow for 3D tours of homes. And of course, bored individuals at home are buying VR equipment for entertainment purposes.
The shopping markets have quickly transformed from the inevitable errand people used to have on their to-do lists to the only outing allowed throughout the quarantine. This leads to an increase in the business of grocery stores.
Supermarkets are also looking for support from stocking shelves all the way to managing supply chain logistics, handling public relations, and software development engineering.
In times of such great uncertainty, people’s routines and purchasing habits go out the window, which opens up the opportunity for businesses who can pivot operations and invest in new technologies to adapt to the changing climate. Now, more than ever, it’s important for companies to understand the environment we’re living in and adapt to it. These are the companies that will not only survive during the pandemic but also move ahead of their competition.