2020 was a tough year for all, especially for those who have been running businesses. It is the first time in years that the whole world has seen a recession. According to reports, the financial turmoil we have experienced due to the COVID-19 pandemic was worse than during World War II.
This low blow is worse in countries that are reliant on industries like tourism and trade. No one knows when travel will be possible without restrictions. Some industries can shift their businesses online in the meantime.
Recovering from the effects of COVID-19 may take a while. Businesses like specialty restaurants, hotels, and airlines are not coming back anytime soon. Many of these businesses have shut down, causing many people to lose their jobs. Yet, some industries are overcoming the COVID-19 shocks. These industries may be able to sustain their position even after the pandemic. Here are some of the industries that saw growth despite a global crisis.
Pharmaceutical and medical supply companies
Most people believe that COVID-19 vaccines are the answer to stopping the spread of the virus. The pharmaceutical industry is undeniably resilient to the economic effects of the pandemic. This is because the world is watching what these companies have to offer that can help cure the virus. Aside from the vaccines, other medications help ease COVID-19 symptoms. Over-the-counter medicines are on-demand, especially with people planning lesser trips to the hospital. Even with physical restrictions, pharmaceutical companies are still relevant in the digital space.
Medical supply companies are also booming in this pandemic. With hospitals demanding personal protective equipment and other gear, they are far from being out of business. Even those who are not medical professionals buy masks and gloves for their personal use.
Cleaning and sanitizing supply companies
Part of being healthy during the pandemic is proper hygiene. As the virus can be transmitted through touch, it is important to be wary of what has come into contact with our bodies. Hand sanitizers, sanitizing mats, and other cleaning materials are a must these days.
Online shopping apps
As people stay indoors, online shopping malls have been a great help. Lockdowns have forced people to buy their supplies in the comfort of their homes. It only takes them a few clicks.
Online shopping works for both essential and non-essential goods. Many have stocked up on their groceries. Some buy supplies for the hobbies they found while in isolation.
As people now choose to shop from home, it has helped lessen the number of people outdoors. Even the biggest brands have migrated to digital platforms. And it also seems as if this kind of shopping is here to stay.
Delivery and courier services
Delivery and courier services are considered essential during the pandemic. People are now aware of USPS shipping rates when they send essential and non-essential goods. These delivery services also help online shopping malls fulfill their duties.
Without these services, it would be a challenge to move around in isolation. Moreover, there are still businesses that require sending physical documents to clients. They are also working at their normal pace despite border restrictions.
This is also the same for food delivery services. Apps like GrubHub, UberEats, and others come in handy, especially today. Some restaurants even have their own applications for order and delivery.
Entertainment streaming and social media applications
Entertainment is a must these days. Isolation has forced people to subscribe to different platforms. Social media and streaming applications are popular among the younger generation.
Social media helps people keep updated on the latest news. Entertainment streaming platforms help people get over boredom. While it seems that most people spend their time on their gadgets, it is still better than going outside.
Workplace productivity solutions
Most people are working from home. Solutions that keep the workplace moving even when everyone is remote are a must. These keep the business afloat during these trying times.
Apps for employee productivity, payroll, video conferencing, and collaborative working spaces are in-demand. These apps allow teams to work effectively even when they are not together. Even as people return to the office, these applications are here to stay.
Open universities and online training sites have seen growth even during the pandemic. These allow people to be productive despite being stuck at home. Moreover, these are convenient as students can learn new skills at their own pace.
Marketing has taken on a different form during the pandemic. Digital marketing companies have helped small businesses reach their target audience. They help with managing social media pages, especially now that everyone is on these platforms.
The pandemic may have affected several industries, but it only served to show the importance of specific goods and services. As it continues to rage on even with a vaccine rollout, businesses will keep on adjusting to address the people’s needs.