The coronavirus has spread across 157 countries all over the world resulting in pandemic. Coronavirus cases have reached 197,000 globally. For now, the number of coronavirus cases in India is 147 out of which three persons have died. The coronavirus outbreak or COVID-19 has affected many sectors all over the world. The fast-spreading Coronavirus not only hit the world's second-largest economy China but also rattled other countries as well. Many companies have taken initiative to contain the spread of coronavirus globally.
Apple had shut down its stores in China & other nearby countries for the employee’s safety. The world's second-biggest fashion retailer H&M has also closed all stores in biggest markets Germany and the United States. It also closed all its stores in Canada, Portugal and Belgium as well. In India, aviation and railway sector are also affected due to coronavirus spread recently. Many airlines in India are unable to find passengers which has made them lower the ticket prices. At the same time, railways has also cancelled 76 trains as precaution and due to low occupancy, which is consequently resulting into loss. This is directly affecting tourism industry worldwide. Nevertheless, many food chains and restaurants are struggling to make profit as people are avoiding going out as precaution unless it’s emergency. Not only this, even many start-ups are facing difficulties due to lockdown situation. This is all coming down to overall economy slowdown.
On the other hand, coronavirus outbreak is also helping many countries. As the Chinese government gradually shut down public services, schools and several manufacturing plants since the mid of January, it is opportunity for the other countries. China is the largest consumer and supplier of many products in the world, such as spare parts, chemical, toys, lighting, base metals or oil, etc. Many countries including the US and European Union import these goods from China. Now they have reached out to other countries to fulfil the rising demand. India is one such country which has received the high demand for its product in the wake of Coronavirus. Due to China's temporary lockdown, the chemical sector will be the biggest beneficiary along with other sectors which include textiles, ceramics, sanitary ware, homeware and engineering goods & so on.
Although outbreak of the novel Coronavirus is crashing global markets and affecting everything from air travel to the film industry to local businesses, still some companies stand to benefit somehow from this outbreak. They include firms that sell deep-cleaning products, remote services like Peloton, Zoho and Zoom and Purell, the brand of a popular hand sanitizer.
According to a report, sellers of some lesser-known products also view the coronavirus as a unique business opportunity. These benefiting companies include companies that sell gadgets like air purifiers, robots and even spit-shielding hats as such products help in combating the virus. Now, some of these vendors are actively promoting the link between their products and Covid-19 which is actually helping their companies making a good business. Not only this, the demand for face masks has also taken a boom as it is advised by many experts and doctors to wear face masks while going out. Because of this, the sale of the face masks has increased to a great extent.
As people are more worried about infection & germs, they are running towards disinfectant products like hand sanitizer, hand wash, cleaning wipes, etc. People are turning to many brands such as Purell, Lysol, Clorox, Lifebuoy and Dettol & so on. Consumer demand for Hand sanitizer has grown by 1,400 percent from December to January. This demand is so much that many Walmarts, pharmacies and Bath & Body Works are sold out and packs of Purell bottles on Amazon are either unavailable or marked for hundreds of dollar. Meanwhile, many other small companies selling such products are also making a good profit. Hard to believe but the shares for Clorox alongside two other drugmakers were also on the rise in late February even in such economic slowdown according to a report.
Phone & Video Conference Software
Coming to technology companies’ benefit, many phone & video conference software and tools are in a high demand because of many companies’ decision to make their work from home. Famous work from home softwares & tools include-
Zoom - Team video conference tool
Skype - Online video calling tool
Slack - Team Communication and collaboration
Zoho - The whole
GSuite - Emailing and team Communication
and many other chatting & conference platforms. Due to massive demand, these companies are also providing many features at lower rates. As most of the companies are relying on these tools, it is a good opportunity for them to stand out in market.
Apart from this, to no surprise, the demand & traffic on many online streaming platforms like Netflix, Amazon Prime, Disney Plus, HBO Max, Hulu, etc. has increased stupendously. As many employees are working from home & kids have got holidays for weeks, these streaming platforms have become a good pastime for them.
As it is said “Every coin has two sides”, in this coronavirus outbreak, though majority of the companies are suffering, it is still good opportunity for other companies to make profit.