Top 7 Business That Unexpectedly Thrive During COVID 19 Pandemic
We all are aware of the COVID pandemic which forced us to get housebound in order to stay uninfected.
The lockdowns that were imposed amid the pandemic have brought a drastic change in the way people do business. Specially, the industries like travel, finance, retail, etc observed a drastic impact on their business. The movie theater has become a major missing these days. Bars, restaurants, and many other eateries.
For a few businesses, it was an opportunity to rock in the market while for others it was the time to shut their doors.
To the fact, the consequential calamities caused due to COVID 19 will haunt us for a longer period. Hence, it is time to go digital in order to safeguard your business as well as your health.
Most of the startup enablers and entrepreneurs are looking for a strategy that could make their business profitable in this pandemic situation, and can even survive with such deadly viruses in the future too. If you’re planning for a startup then you must check out the below-given businesses which ruled in the pandemic.
Let’s get started!
7 Businesses That Took Hold on Market Amid COVID
1. PPE/Mask and Sanitizer Demand Explodes
Unsurprisingly, the pandemic has led to the demand for personal protective equipment that includes masks, PPE kits, sanitizers, and more. The below-given graph will give you a better idea of this growth.
Masks have become mandatory in almost every part of the world. To curb the spread of COVID, it is essential to wear a mask whenever stepping out of the home. Similarly, PPE kits which were historically used by doctors have now become a part of their routine. While treating a patient there is a high chance to get infected with the deadly virus, therefore, everyday millions of PPE kits are used by the healthcare sector.
The research says, “Even with widespread use of reusable masks, demand for disposable masks is expected to reach levels more than five times larger than those seen in other global pandemics such as SARS or H1N1”
Besides that, when economics was shutting down, consumers made their way towards the online platform to fulfill their demands. Let’s get into the businesses that draw attention to the online industry.
2. Healthcare & Fitness Goes Online
Even in the effect of the COVID pandemic, fitness was a major concern for many people. Thanks to the virtual visits of physicians which was a new way to staying fit in the lockdowns. Be it about diet instruction or following gym steps, fitness apps have played a major role in the life of fitness freak people during the pandemic time.
Online telemedicine apps are letting the patients consult and book appointments online. There are so many online telemedicine solutions that ease the life of doctors as well as patients. A few of them are real-time medicine, remote patient monitoring, store-&-forward medicine, and so on.
If you’re already in this sector then going digital is quite important in order to draw the attention of the users.
3. E-Commerce Sales Spikes
eCommerce was already getting into the mind of people even before the COVID. Though, the pandemic has sped up the transition even further for eCommerce sales. In June 2020, the highest monthly global traffic was observed by retail eCommerce – i.e 22 billion visits.
Governments have shut down the traditional retailers thus customers are moving towards buying the essentials online. The retailers like Amazon, Instacart, eBay, etc have reported a massive sale during this pandemic time. The fact is even after the traditional retailers were reopened, online sales continued to rise.
Be it about food, beverages, clothing, electronics, or anything, online sales will keep on increasing day by day. So, if you’re planning for a startup or digitizing your already existing business then it is an ideal time to start.
4. Online Food/Grocery Delivery Service Is New Way For Dine
Due to social distancing and people stuck at home, there was a surge in the grocery and food delivery services. Further, restaurants being closed, people choose to order food online from their favorite restaurant.
It was quite risky to go out frequently for buying the daily essentials, therefore people shifted to the online grocery platforms. Many online food delivery apps also came up with a contactless delivery in order to safeguard from spreading the infection.
Overall, so many delivery services made a tie-up with the supermarket to fulfill the customer demands. Online delivery startup is one of the best ideas you can follow in the current situation. If the execution is done perfectly, then your startup will become popular among the people at the earliest.
5. Entertainment Made Quarantine Period Easy
A big void has been created in the entertainment industry due to the closure of theaters. Many blockbusters release is delayed due to this situation.
But to continue the entertainment of the people these blockbusters were released on some of the most popular video-streaming applications. As a result, platforms like Netflix, Amazon Prime, etc observed double rise in their subscribers.
Adding more to it, the demand for OTT apps for releasing the series and movies has become more popular these days. Hence, hitting the market with such an app proves to be a good startup idea that will even work on the long term.
Ergo, these were a few business categories that show a hike despite the COVID consequences. The pandemic has made these businesses the unexpected winners in the market and in the eyes of the consumers.
6. E-Learning Took Center Stage
As a safety measure, schools and colleges were ordered to shut down for a long period of time. This led them to start online classes for the students. It accelerated the use of digital learning platforms among the institutions.
The educational apps and websites got a huge boost in the traffic since the lockdowns. In fact, e-learning has become a new normal for institutes. Even today the schools and institutes are teaching and scheduling the exams online as most of the countries’ governments have ordered not to reopen schools and colleges.
Thus, if you’re interested in this sector then building an educational platform wherein the students and professors can interact is a lucrative idea.
7. Ascent In On-Demand Beauty Service
Going to a salon was one of the major risks for getting infected with the virus. According to Statista, approximately 66% of people are nervous to go for an offline beauty service.
Nevertheless, the online economy has shown so many new routes for salon owners and startup enablers. As a result, many salons build an on-demand beauty app in order to reach out to customers at their doorstep.
The customers have already started shifting to the on-demand beauty app as it is more hygienic, offers individual attention, saves time as well as money. To put it short, there are piles of benefits of starting with an on-demand beauty service app. You can either start a self-owned business or follow an aggregator model for your on-demand beauty service app.
Are You Ready With Your Business Idea?
The ashes of COVID is still hazardous in today’s scenario as we are going through the second wave of the pandemic. Businesses need to revamp the strategies in a way that is effective today and in the future to fight against such situations.
The new normals have come with new opportunities for startups and entrepreneurs. It’s time to think a bit differently to achieve the expected results. The future is still bleak for us, thus building a strategy that could handle every situation is a centerpiece in today’s time.
When the storm passes by, we gather knowledge on the same to recover and be ready to fight with such situations in the upcoming time. Similar is the situation we have been going through. It’s time to get back into the market with a strong and steady business that could tackle every situation.
Develop your digital platform by learning the current market trends of your business sector. This will help you to reach the maximum audience in a short span of time.
Tip: “Always build a business plan before starting the execution of your online platform development”
Wishing you all luck for your business!
Chris is the Writer and Journalist. He loves to deep dive into the ins and outs of the technologies. His aim is to share the knowledge by writing on the technicals about Business, eCommerce, Startup, Enterprise IoT, AR, VR, and other Smart Technologies. To describe him in one word, he is a writer focused on Tomorrow’s World.