COVID-19 has had a very negative effect on the economies of almost all the countries of the world. It practically destroyed small businesses and even large ones like the restaurant industry. However, it has also helped a few companies. Unfortunately, several companies (43%, to be precise) were closed due to COVID-19.
Some people were able to survive this pandemic better than others. Businesses like UberEats, FedEx, Samsung, Zoom, Spotify, etc., were able to sustain better in these challenging times. In this article, we have decided to look at the businesses that were most successful during the pandemic and which earned benefits from such cruel crises.
Seven businesses/industries which benefitted from COVID-19
Professional delivery services
When the pandemic was at its peak, people were advised to stay indoors and observe the social distance. Due to this, people couldn’t go out to dine or shop. This is where the Delivery services came in. when people didn’t go out. They got their food, clothes, accessories, groceries, and other things delivered to themselves. Companies like UberEats, GrubHub, Walmart, Amazon, etc., saw a surge in business because of the large number of orders they received.
For the first time in history, the pandemic made people bored of their phones. People got tired of spending time on phones and wanted some other activity. The families who were quarantining together had to entertain themselves so, they turned to board games and puzzles. The Puzzle Warehouse, the largest puzzle company, reported a 2000% increase in sales compared to the same time frame of 2019. Apart from this, Video game makers also Earn Good Profits in the pandemic. Nintendo reported a 41% surge in their profit, the highest in the last nine years.
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Home improvement industries
People stuck at home realized that they didn’t pay much attention to their busy routines. But now that they had time on their hands, they adorned their house. As a result, home improvement stores like Home Depot and Ikea saw a rise in sales. The increase was around 4.21%. Even the searches related to home improvement increased about 140% during the pandemic.
Movies were one of the consolations that helped people cope with the pandemic. While the traditional closed-room cinemas were shut down for obvious reasons, many cinema companies started drive-in theatres, which helped keep COVID-19 at bay and provided sustainable entertainment to people. In addition, drive-in theatres generated great revenue by providing an opportunity to escape from the quarantine in a safe environment.
Since people could not physically meet their loved ones, they turned towards apps. Apps helped people in socializing. But, that is not all they helped people with. As the pandemic proceeded, the app developers created apps befitting the world’s situation. They completed games, socializing apps, and even educational apps so that people may not miss out on much while they were stuck at home. They developed some new apps and some reestablished old apps that gained popularity during COVID-19. Apps like Zoom, Twitch, Plague Inc., TikTok, Google Classroom, Starve, etc., gained so much popularity that app developers got great sustenance via them.
The pandemic affected people’s health. It made countries realize how backward and cruel their healthcare systems are because all that the big pharma firms wanted was to make money from such a painful time in history. So, the health care industry, including pharmacies, laboratories, hospitals, clinics, etc., is one of those industries sustained during COVID-19. Even when they should have provided free services to people because of the condition everyone was going through. Both physical and virtual healthcare services earned greatly during the pandemic except https://aceassignment.co.uk/ that presented flat discounts to students in these tough times.
COVID-19 made the gig economy and contract services more popular among people, which boosted the freelancing business. Many people started working individually on their brands whose ideas were at the back of their minds (ideas that were not getting an outlet because of the people’s busy schedules). As a result, freelancing companies like Upwork, Fiverr, Remote.com, Medium, etc., started receiving more gigs from freelancers than ever.
This also prompted the governments and hospitals’ ‘contactless services’ initiative. As a result, people could earn money from their homes without meeting with anyone personally.
Every crisis has a silver lining, and in this case (of a pandemic), the silver lining was the benefits that companies gained from the pandemic. However, it is true that pandemics changed the way we live our life and every day that it continues to stay in life, we change our practices.
The companies are seizing every opportunity they get to sustain their businesses. And even when many industries are suffering from the pandemic, there are many which are taking as much advantage as possible from the pandemic.