The threat of COVID-19 for millions of individuals and businesses across various industries is financial ruin.
Several businesses have practically closed, while some are still floating with just a fraction of what they have due to the restrictions of movement around the world. However, there are some industries that have benefited greatly from this, at least temporally if not permanently;
While stock markets and shares of travel and logistics companies like Taxify are plummeting, the valuations of telecommuting platforms like zoom, Skype for video calls have skyrocketed.
The telecommuting platforms have had a huge impact on the way the society functions today. Since organizations including government agencies, religious bodies and businesses now have to modify the way they operate in order to ensure that their operations continue without grinding to a halt. Almost everyone works from home, thereby elevating the telecommuting platforms to an extremely important part of work setting.
This should not come as a surprise, since we are aware of the wide use of medical products this period. Medical products like surgical mask, gloves, sanitizers, disinfectants and all other medical supplies are in high demand, so much that many healthcare companies are struggling to keep up. It is a boom season for the industry and its value chain.
The consumption of social media has increased exponentially since the start of this pandemic. There was a survey by London-based research firm, Kantar, between March 14 and 24 in which it was stated that WhatsApp saw an increase of 40% in its usage and 37% increase in Facebook usage since the crisis started.
Streaming and Gaming
All streaming platforms like Netflix, would benefit greatly this period because of the constant need to entertain ourselves or keep the children busy while staying at home. The likes of Microsoft box, PlayStation etc. are cashing out as well
With people refusing to accept physical cash, and the increase in investments or generally online payments, the likes of Visa, MasterCard and any other e-payment platforms are benefiting greatly. This could even have a long term effect on people as they would now see the ease and convenience of digital transactions.
E – Learning
The use of e-learning platforms has increased. This is because many see this period as an opportunity to improve themselves. Therefore, they have seized this opportunity to develop and expand their knowledge and skill set by taking various online courses in their area of interest. Students have also enrolled in most of these online academic programs pending the reopening of schools.