Coronavirus Pandemic – Profitable Businesses
Being inquisitive by nature and a Marketer by profession, I have been someone who closely analyzes the market trends and fads. I have always been curious to learn that in these continuously evolving market dynamics which particular industries outperform the other. Moreover, the thought that particularly piques my interest is the different strategies a business undertakes to make the most out of the oncoming tide.
Let us consider one such example, which is the current scenario of the deadly Pandemic, Covid-19. I started out primarily to understand the implications of the current crisis on the various industries across the globe. While doing so, what intrigued me was that apart from the usual expectation of Pharmaceutical & Nursing industry, there are various other industries which are expected to do significantly well amidst this economic downfall. Let us discuss each one of them with a brief insight,
- Face Masks & Gloves: Undoubtedly, the most demanded product range across the globe, which plays a major role in protecting us from the transmission of COVID-19. Due to the surge of demand and shortage in supplies, we have seen an unprecedented increase in the prices by 400% across various markets.
- Drones: Surprisingly, the govt. of few countries are using drones to sanitize locations in the cities. Certain areas around Industrial Zones are being sanitized by spraying disinfectant through drones flying over. Drones are also being used to broadcast emergency news and to remotely capture current updates of certain quarantined locations.
- Online Educational Sites: Considering the crisis, lockdown is a situation most of us have gotten familiar with, however to adaptability of this new routine is a challenge. God bless the internet, that we have the provisions for schooling our children through online education portals. Additionally, a lot of young ambitious individuals have enrolled themselves into top-up courses which might help them speed track their courier. It is indeed a value addition technique that is being widely used in these times. Particularly, when College admissions or Lay off times are round the corner we all want to make the most of it. There’s has been an increase in sponsored advertisement for Online course Enrolment!
- Online Gaming: I was never a big fan of online gaming, but today I am amazed at myself having downloaded 5 games in 7 days of Quarantine. To my surprise I am good at it, and cant get enough of it. Gaming App developers ought to be on your toes, its now or never….!
- Media & Entertainment: NETFLIX! One word says it all… but yes we do have a lot of other media channels & apps wherein we have seen a surge of traffic on an hourly basis. People are catching up on their classical movies, favorite shows.
- Streaming Video & Music Sites: I always wanted to be a vlogger, did you too? Though, we never have time, now you have !! Not so surprising to know the number of people recording themselves has gone up in these video hosting & streaming sites. Recently a friend of mine doing WFH, has turned into a chef vlogger… and apparently he is good at it. I think I am going to try my hand at this too. You should as well…!
- Protection: It might come as a surprise that 70% of global Condoms are manufactured in India & South East Asia combined. Researches say that the sales in condoms have definitely risen, due to most people doing WFH. That’s the upside, however with India being under lockdown & South East Aisa being adversely affected through Mainland, there is a strong probability that condoms might go out of stock sooner than expected. East people… Easy!
- Toiletries: Toilet paper has been in news for all the reasons we know. For similar reasons, any brand that has positioned itself on the equity of “Germ Fighter” or “Anti-Bacterial” has been the Winner. Lifebouy, Dettol, Savlon, Harpic, Henkel and many other Soaps brands have been the king of this month for retailers? I’m sure their numbers must be sky high!!
- Remote Advisories / Telemedicine: I consulted a nutritionist after ages and a therapist too, to deal with stress of this lockdown plus to avoid getting fat & lethargic. They say what you eat is what you are. A lot of untapped market is open for this service, Grab On!
- Video Conferencing Companies: Work from home has enabled few countries to adapt video conferencing as a part of their culture, though they were previously not so welcomed. But this has been a great opportunity for companies like Zoom to stretch their wings on the global horizon and tap a massive unexplored market. This sweetly implies additional business!
- Telecom Industry: Internet plans have improved, call timings is high paced these days, and with the tera bytes of data flowing through, that’s a lot of money flowing through across businesses.
- Cleaning Services: Most Important and sustainable business which will continue its revenue at a top notch, as most of us still might be in the fear of germs and viruses even after all this is over!
These were a few of them which I could figure out, If you come across more such businesses who are making a good turn, Please mention in the comments below, would love to understand more about it!