In this article we share five sectors that have grown during COVID-19
5 sectors that have grown during COVID-19
Six months into 2020, and it feels like COVID-19 was a bad storm that destroyed much of the world we knew from a societal perspective. Citizens indoors, wearing masks, no travel; to some extent it has felt like a bad dream. However there are some industries that have thrived during this period. These are the companies that have contributed to keeping us sane during the lockdown. Let’s take a look at some of these companies, sector by sector.
If customers weren’t shopping online already, COVID-19 would have been the final push to get them online, and such has been the case for millions of people around the globe who have been forced away from physical stores to online retailers.
Whilst several businesses already had online stores, their online shops were originally intended to compliment their physical stores. COVID-19 has changed that, making online stores the only option, and forcing several online retailers to up their game or lose business.
Companies like Amazon and digital stores alike have flourished during COVID-19.
Food and Beverage
When we think ‘digital’ we tend to think that food cannot be part of this matrix, but online delivery of food and beverages has exploded during COVID-19 and any food outlets, typically the larger takeout chains, that were able to jump into digitalisation have benefited accordingly.
With the demand of goods, quick and efficient door to door delivery has become an essential part of the distribution. Services by UPS and FedEx have increased in demand of course, but the last mile problem seems to now be a problem of the past as well.
Lower traffic on roads has enabled delivery people to get items to customers quicker. With companies like Deliveroo and Just Eat offering services of food, and taxi services like Bolt and Uber jumping in on the food distribution plan to cater for the increased home delivery demands following the limitations of eating out.
Being at home tends to mean more time to chill and relax indoors which has led to a massive increase in online streaming subscription services such as Netflix and Amazon Prime, along with free and paid services of YouTube and Twitch.
In line with the human need to communicate, the use of online communication tools has also grown in demand. Services like Skype, WhatsApp, Zoom have seen a huge influx of user subscriptions.
Companies have also turned to such solutions to enable teleworking and internal communication.
Online Payment gateways
To transact online customers need credit or debit cards and payment gateways.
Visa, Mastercard, Apple Pay, Google Pay, and Alipay in Asia, have also seen an increase in use during the pandemic. Such gateways have enabled seamless transactions for all the services mentioned above, which makes online payment gateways really stand out as enablers during the pandemic.
It is refreshing to know that not all sectors have been negatively impacted by COVID-19, and that digitalisation has helped several societies counter the pandemic and enable life to go on as usual, even if it is a ‘new normal’.