The novel coronavirus, officially known as COVID-19, is a major unexpected catastrophe of 2020. It caused an abrupt wreaking havoc in both public health and economical terms.
Obviously job insecurities during a covid-19 pandemic come with a silver lining: Every truth has two sides; it is as well to look at both, before we commit ourselves to either. So it’s wise to predict a crash sooner than later, because then there won’t be anything left to do else than to lament. In fact, your chances of grappling in market are highest right now, at least in certain industries. Companies in some sectors are witnessing a sharp increase in business.
Here’s all what you need to know about the industries having boom at this time of Covid-19 lockdown.
Medical facilities
Despite of the best efforts from the healthcare authorities across the world, the coronavirus outbreak can even worsen in the days to come. In the midst of the coronavirus catastrophe the companies that provide health care facilities can have a tremendous growth due to increasing demands and stock piling of several drugs and prescriptions. What makes the impact of the virus especially difficult to estimate is that few seem to know the exact or even proximate number of cases in India. While the number of officially identified cases is still low—under 1000 at present, some experts have warned that the actual number could be higher simply because India hasn’t tested enough people.
Doctors are at high risk while dealing with the patients and the situation is getting worsen when hospitals & institutions are not able to provide them with PPE (personal protective equipments) and masks (N-95 & surgical masks). This is not only posing threat to the doctors but also increasing a risk of transmission of Covid-19 infection to the new patients coming in contact of those Doctors.
So, to meet the requirements of PPE’s and masks the government, hospitals and institutions are investing a major share of their disaster management funds in providing the doctors and the infected patients to break this vicious cycle of transmission. This is giving an additional boost in the arena of Drug development and pharmaceutical companies.
Grocery stores and Delivery services
Covid-19 is disrupting the world in an unprecedented manner in different genres of life. In phase 1 due to lockdown all the services including online and offline grocery were suspended. But with the growing demand of household items the online grocery companies were give permission to sell out the items in some part of the countries. Companies are also instructed to give hygiene top most priority. Grocery stores across the country are offering wage increase to employees, hiring temporary workers to keep up with the rising demands and reserving exclusive shopping hours for the most vulnerable members of the community. So there is a boost in online shopping of household products which gives booms to the online grocery companies in this time of high alert.
Instacart said Thursday that its sales this past week were 10 times higher than the prior week — and 20 times higher where the largest numbers of cases has been reported.
Online Learning Companies
In the midst of the ongoing covid-19 virus outbreak Educational technology companies are taking e-education to entirely next level, as schools, colleges and coaching centers close down. So as to keep oneself at same pace with peers in this competitive world, many students & professionals of various streams are registering themselves for online classes, for national entrance exams or for upskilling in their stream even during the ongoing lockdown and hence maintaining the social distancing. Several companies like byjus’s, unacademy, vedantu and many more, are offering free access to their live classes, content and their platforms, to continue learning from home. Outschool is appointing thousands of new teachers to meet rising demands of students.
Byju’s co-founder and Director, Divya Gokulnath, said, in a statement, “Since our announcement last week, we have witnessed a 60% increase in the number of new students using the app to learn from home daily.”
Gaurav Munjal, co-Founder and CEO at Unacademy said, “In the last three weeks, learners who are watching free live classes have increased by 3x. We are clocking 30 million minutes of watchtime on Unacademy every single day. Our educators have stepped up and started taking more live classes.”
So even at this point of time when there is a lockout in whole world the online world is alive and thriving manifold. Many people are buying courses to upgrade themselves and many companies are buying courses for their employees to upgrade them and get them ready for the competitive world after Covid-19 war.
Shipping and Delivery companies
With a massive lockdown in every corner of the world as a means of self-isolation to curb the spread of the Covid-19 outbreak Amazon & Flipkart is out of stock on a number of household staples and household items. You will also notice that only some of the items are available to be purchase. The site says. “During this time, customers are counting on e-commerce to support their social distancing and self-quarantine efforts. At every level of our company, we’re working to provide the products and services that our customers and communities need at this time.”
The Pay on Delivery payment method is “Temporarily suspended” from the list of various payment methods they accept for shopping on their websites. Till Covid-19 situation gets under control you can currently pay using credit/debit cards, UPI, net banking or e-wallets. Keeping in mind the seriousness of the requirement of household items the e-commerce platforms have been granted permission to deliver only essential products at doorstep.
So there is a great demand of edibles, household items and personal care items by every person. And thus the online shopping companies are hiring employees and other delivery services for the delivery of items to manage the growing demands of household staples, household items and personal care items, giving a boom to the delivery service companies.
Remote meeting and Communication companies
Remote meeting and communication companies are having a great boom during the lockdown. These companies who were having their remote meeting and communication products in place are experiencing a great rise in clients. Following social distancing practice every company is now following work from home culture so as to keep their employee safe and safeguarded from Covid-19 infection.
Many companies, for monitoring the online work have involved these online tools. All the meetings that were and used to be done offline are now conducted online. Not only the meetings but also the classes of students that used to be held in schools and coaching’s are now taken online. This is giving a great boom to these remote meeting and communication companies.
Freelancing Platforms
In mid of the corona outbreak when there is a lockdown and self-isolation, freelancing is one of the thriving part time career option. Apart from their regular company assignments and deliverables, employees are able to join the freelance workforce to make productive use of their free time. So, online freelancing platforms like Upwork, Fiverr, Freelancer and many more are experiencing a boom in the number of their active and new users.
Chris Dwyer, VP R&D for Ardent Partners said, “Freelance business is up; businesses are facing a “mini-crunch” not unlike a recession. But, work still needs to get done, and agile talent is replacing some percentage of permanent staffing in the short-term.”
ISPs and Telecom Services
Not only ISPs are experiencing increase in new customers for home broadband connections but also there is an abrupt rise in upgradation of plans by existing users. With the stringent lockdown orders imposed by government as a self-protective measure from Covid-19, the companies have instructed their employers to follow remote work culture. So there is a spike in data traffic demand for high-speed wireline broadband plans and telecom services as they seek more stable connections to run enterprise-grade applications, including video conferencing.
Covid-19 has proven to be a major catastrophe in the business at the very start of 2020 all over the world and has led to a total economic collapse. Yet certain business sectors have experienced an unexpected spike in their revenue growth. Apart from these above mentioned sectors many companies and startups are trying to save their business and shield their employees at this time of crises. Here we are with the tips that can help you protect your business in the midst of Coronavirus (Covid-19) Outbreak.
