Here is the list of industries that are seeing growth during this pandemic. Read further to know about the industries that are outperforming in Covid-19.
Industries that are outperforming in Covid-19
With the business landscape radically changed in the past few weeks due to coronavirus, the majority of stories people are hearing concern businesses closing or laying off workers. However, some businesses are uniquely suited to the COVID-19 crisis and have seen an uptick in demand.
With most businesses creatively learning to adapt to coronavirus, it should come as no surprise that some traditional businesses have seen success in this new landscape as well. Businesses that help people “social distance” themselves from others and retailers that help people stock up for eating and drinking at home are primary examples.
1. E-commerce marketplaces
COVID-19 has massively led to the growth of e-commerce. Total online spending in May hit $82.5 billion, up 77% year-over-year. What people are buying is changing too, perhaps returning more to relatively normal consumption patterns. Even though demand is high, grocery prices were up 4% in May compared to 2019.
2. Education (Online Learning)
With institutes closed and regular classes on hold during the lockdown period. Online learning has emerged as the most viable tool for educators who are looking to ensure that the pandemic’s impact on their learners’ academic progress is minimized.
Multiple platforms like Udemy, Coursera are offering high discounts on various courses and many classes are even being conducted for free. As a result, virtual classes and online learning platforms have suddenly become the norm instead of a novelty. Even the conventional models are reshaping to make learning more personalized, engaging, and interactive.
While most Indian households still rely on their neighborhood stores for groceries, many staunch advocates of the old-fashioned model have lately been switching to online retail platforms like Grofers and BigBasket. The reason? To ensure compliance with social distancing. And players in these spaces are capitalizing on this trend to establish themselves as an integral part of the daily grocery fulfillment value chain. Huge discounts are currently being offered on various items while, to ensure that the needs of all are fulfilled, unit caps have been imposed on the purchase of essential goods.
4. Video conferencing
Social-distancing has also meant that people have had to move their social lives online. There has been an increase in the number of users that are installing video conferencing software to connect with friends and family as well as to attend virtual meetings from remote workplaces. The demand for video conferencing software solutions is increasing prominently as companies are opting for video conferences due to the current pandemic situation.
Video conferencing software and video chat applications have seen a huge surge in demand as a result of the COVID-19 pandemic. In March, video conferencing apps saw a record 62 million downloads. Much of the growth is due to the increasing adoption of platforms like Google Hangouts Meet, Microsoft Teams, and Zoom as businesses switched to remote working to limit the spread of the virus.
5. Entertainment, streaming, and gaming
The global video game industry is thriving, despite the widespread economic disruption caused by the coronavirus. With the practice of social distancing reducing consumer and business activity to a minimum, gaming offers an engaging distraction for people at home looking for social interaction, and there has been a huge growth since the lockdowns began.
The increasing change in customer’s social behavior shifting from traditional subscriptions to broadcasting services and over-the-top (OTT) on-demand video and music subscriptions every year. Various segments of the population have started using video streaming services instead of regular television for entertainment, due to added benefits such as on-demand services and ease of access. Hence they are one of the industries that are outperforming in Covid-19.
6. Companies that are hiring in this pandemic
Some industries — from shipping to online learning — are hiring to meet coronavirus-related demand. Here are some of the companies hiring right now. Here are some of the companies that are hiring in this pandemic.
- Amazon intends to hire 100,000 workers.
- CVS said it was hiring 50,000 to meet exploding demand at its stores.
- Pizza Hut announced plans to hire 30,000 permanent workers
- Walmart announced it will hire about 150,000 temporary workers by the end of May for their stores, clubs, distribution centers, and fulfillment centers.
- Dollar Tree, which also owns Family Dollar, plans to hire 25,000 workers.
- 7-Eleven expects to bring on 20,000 new store employees.
- Domino’s is hiring more than 10,000 workers.
- Grocery chains (including Kroger) are looking for workers, as are shipping businesses, online learning, and remote work firms.
While we don’t pretend to know the future, and we only know because of our own experiences and reflections of the past, it is in times of great distress where great opportunity abounds for sure. It is not just across the variety of the industries shared above, but also among others that we cannot even imagine that are bound to come. Our commitment at AviaHire is to continue to look with a sense of hope and curiosity towards change, strive to gain an understanding, and share our experience with the people and organizations that will strive to embrace and build the new future.
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