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Industries that are Thriving Amidst COVID-19

While the majority of the industries are facing a setback, some have been thriving now more than ever. Here are some of the sectors that haven’t been negatively affected by COVID-19.

Electronic payments and Ecommerce

Cash transactions were already becoming old-fashioned in many countries but now due to social distancing rules and no contact transactions, electronic payment gateways and payments through debit cards have become normal. Many shops are only accepting digital payments.

This symbolises that in the long-term customers will probably adopt digital payments. This is not likely to be a permanent change for all, but it might be for some, example: consumers who choose digital payments and the shops who will now only accept digital payments.

The more people are at home bored, the more likely fingers are going to venture towards the eCommerce apps to spend the money which has been saved. People are moving online to do their shopping. Amazon has been providing new jobs to manage the extra demand. Combining e-commerce and digital payments, shopping is now as comfortable as it can be.

Pharmaceuticals and Health Industry

Pharmaceutical companies and Medical Industries are inevitably playing a large role in the crisis. All the people in the Health Department are working towards finding a vaccine/cure or supporting people in need.

In the face of the pandemic, immunisation is the biggest need. Government authorities have asked the public to steer clear of crowded places and resort to home exercise which has also led to fitness equipment to be sold in large volumes.

People with a lot of background anxieties are not easily reassured. Therefore, it is no surprise that since the start of the coronavirus outbreak, millions of people were worried. They have now eventually turned to online health platforms to seek consultation. The need for safety and immunity has led these industries to be at their peak.

Logistics and Delivery Services

As people around the world are blocked from leaving their homes, products and services are needed to be home delivered. UK food delivery app Deliveroo launched a “no-contact drop-off service”. This provides restaurants with additional packaging and seals for orders to be left on customers’ doorsteps.

With millions worldwide in quarantine or on lockdown, there are growing opportunities and pitfalls for food delivery companies. Grocery delivery and recipe apps also outperformed after the government told the public to stay home. For obvious reasons, people have turned to contactless delivery service.

Video Conferencing

Video conferencing start-up Zoom has profited massively. The company’s sales and share price are rising exponentially in 2020. Webex from Cisco and Skype and Teams from Microsoft are also seeing a major rise in sales.

Most are offering special deals for their conferencing services during the outbreak. Although there is no substitute for a face-to-face meeting to progress and complete complicated projects, alternatives have to be found today.

Many businesses are encouraging more meetings to be conducted via video links rather than email to not only ensure effective communication but ensure the well-being of employees. Contact with co-workers via video link is not perfect by any stretch, but it might assist some who are feeling the loneliness of remote working.

Streaming Services and Gaming

Platforms like Netflix, Amazon Prime Video, and Disney+ all report increased viewership.

Netflix is already immensely popular, but with more people stuck at home, it has become more so. This benefit is not limited to Netflix as other streaming platforms have benefited.

In terms of video platforms outside of streaming, YouTube is enjoying remarkable success. Not only are there those who are trying to entertain themselves but there are also people who want to learn new things every day.

The gaming industry has been experiencing a great rise in terms of downloads. With the usual entertainment venues shut down, consumers will need to be entertained. The likes of Microsoft Xbox, Google Stadia and PlayStation are likely securing additional subscriptions as well as in-game purchases.

The Telecommunications Industry

The Telecommunications Industry is important to today’s society functioning seamlessly. Consumers have simply expected the internet to function without understanding the value of the telecommunications industry. Due to the number of people attempting to entertain themselves, work from home or access educational resources this industry has been thrust into the limelight.

Authorities are putting in measures to protect the industry, not only to ensure consumers can continue their daily lives but so that emergency services can continue to function, or research labs can collaborate.

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