The COVID-19 pandemic is drastically reshaping the global business environment and, as a result of the pandemic and its economic implications, opportunities are arising for specific industries. For some sectors, this means dramatic shifts in company priorities, whereas others are experiencing rapid growth.
Online retail/e-commerce
It has never been a better time to shop from home. Lockdowns across the globe are helping e-commerce giants boom, as Amazon has reportedly added 100,000 new jobs in order to accommodate the increased demand. As mobile ordering and customer loyalty apps tied to on-premise eating/drinking establishments experience significant declines, the continued growth of online supermarkets seems inevitable. Restaurants and other food establishments are making the switch to online-based delivery services where they are able to compete with other online businesses.
Video conferencing
With companies forced to send employees home to work, face-to-face meetings are no longer possible. Video-teleconferencing tech companies are bridging the distance between colleagues and are facilitating online meetings. The biggest winner here is start-up Zoom, reporting incredible growth as it demonstrates positive Q4 figures. Other videoconferencing technology companies, including Webex and Skype, have also reported increased sales and share prices. Zoom has also seen an influx in users as it is now being used by schools and universities that have made the shift to e-learning and online lectures.
Streaming media
Streaming platforms including Netflix and Amazon Prime have experienced a huge surge in viewers, so much so that it has been announced that Netflix will be forced to limit its services in Europe, specifically by reducing its video quality. It is no surprise that many people are consuming much more entertainment media due to lockdown. Entertainment sectors in general, including online gaming, are experiencing much higher demand.
Leisure and working out at home
For those trying to self-isolate, the gym is no longer an option. As such, there is a growing interest in home workouts. Last month, exercise bike company Pelaton saw its stock rise in value. There is an impossibly vast sea of fitness apps at the moment, all promising to keep you in shape during this period of lockdown. Many make their money offering personalised fitness programmes, subscription fees or virtual classes. As many people are making home workouts a part of their daily routine, this is one of the sectors that could continue to experience a boom even after the lockdown.
Cyber security
As more businesses make the shift to online services, the need for proper cyber security is becoming emboldened. Web security companies like ImmuniWeb, are and will continue to become much more relevant as the pandemic unfolds. Also IT services firms like CyberGuard Technologies are helping more SMEs manage and secure their remote workforces.
