The pandemic has hurt the global economy very badly. It has hit small and budding enterprises and businesses severely. Many of the small businesses have called it quits owing to the ongoing pandemic. Be it the restaurant industry or the fashion industry, everyone is going through a lean patch. Many are forced to go for huge layoffs. Many people have also lost their jobs. This is bound to continue until there is a solid solution in place. A few of the businesses were able to survive this big storm and did better business than others. Mainly the businesses like grocery stores, the food delivery businesses, healthcare consultation, online education apps, etc., have seen a ray of hope and opportunity during these testing times.
Lockdown Has Affected World Economy
The strict lockdown rules imposed by almost all countries in the world following the widespread coronavirus dented the world economy very badly. The pandemic impact on the economy has already been compared to the Great Depression. The impact is so much that it would take many years for the economy to recover and flourish. The strict lockdown means that industries and many enterprises have to be shut completely. Some countries had to do this for over 2 to 3 months. The exempted businesses from this strict lockdown were the pharmacies, grocery stores, pickup and delivery services and food delivery services.
The following are the services and businesses that thrived during the pandemic.
With the physical distancing and stay-at-home orders prevalent during the pandemic, people used the grocery delivery services to get all the household essentials. No one was allowed to shop for items physically during troubled times. When buying food from outside was the norm before the pandemic, it made a complete U-turn during the crisis. People started to cook food at home due to the non-availability of restaurants. Grocery shopping online hit its peak during the lockdown months, and looks like it would be the same for some more time. The delivery services came to the rescue of the people locked down in their homes. They delivered all the goods that people bought from their favourite stores online, and this business did make good profits during the lockdown period.
The closure of brick and mortar casinos meant that the online gambling websites were in greater demand than before. Already the gaming sites were having a good time before the pandemic. With its onset, their business doubled as people started gambling to spend their time sitting at homes. The demo slots for fun were in great demand in these casinos as people took a closer look at the games before placing real money bets. All the online casinos saw a good boom in their business during the lockdown period on the mobiles and desktops. Check whether desktop and mobile slots differ. The iGaming industry was one of the businesses that flourished during the period. Apart from slots, table titles, and even live dealer games saw great patronage from novice and seasoned punters.
The fitness centres and gyms were closed during the lockdown periods. Those avid gym freaks and even people who took regular walks outside had to stay indoors during the lockdown. The fitness and wellness applications were the best options available to get the body in shape and to shed off the excess fat gained when staying at home. All kinds of apps for all kinds of target area workouts are available on the Android and iOS stores. Many individuals who only did morning walks also have benefited from these apps. They were able to learn other cardio exercises and even yoga to get back in shape and to relax their mind. These apps are in great demand during the period.
Online Shopping Marketplace
The dependence on eCommerce stores was high before the pandemic breakout. With the full closure of retail stores and shopping malls, their demand increased manifold. The climate was not conducive for the brick and mortar outlets to open shop. It turned out to be a big boon for the eCommerce stores. Many retail stores also tagged this online line and started an app to reach out to their regular customers. With more and more people shopping on the internet, the popular e-sellers saw a growth in their business.
Online Streaming Services
With movie halls shut, people had to depend on popular streaming platforms like Netflix, Amazon Prime Video, Apple TV, etc., for movie and web series content. The OTT platforms and streaming services saw a big rise in their membership during these hard times. All the services also did their best to add new and varied content to improve their membership and offer more for their regular customers. This industry might see this growth to continue even after the current situation ends. The convenience and the low cost of movie streaming might have an effect on the public. People might prefer to stream movies at their convenience at an affordable monthly rate than go and watch movies at the cinemas.
Online Medicine Delivery
The pharmaceutical industry is in great demand during the time of the pandemic. The pharmacies are allowed to open in most countries, but people are afraid of visiting the pharmacist to buy medicines. This is where online medicine delivery services come to the help of the people. They offer easy and quick transportation of medicines without the need for people to step out of their homes. The crisis time increased the demand for medicine logistics, and a few companies took advantage of this demand to offer their services.
The world is going to see many changes once the pandemic settles down. It will not be the same again. The businesses that have taken advantage of the present situation will thrive and have a good run in the marketplace even after the pandemic.