Businesses That Are Thriving Despite Covid-19

Listen to this article

Image by StockSnap from Pixabay

The current pandemic has proved to be an extremely difficult period for many business owners, but while some are feeling the negative repercussions of the associated economic downturn, others have seen sales figures head in the right direction.

The World Bank predicts that the global economy will shrink by 5.2% during 2020 and this is having a huge knock-on effect on many industries.

Sectors such as tourism are struggling to see the light at the end of the tunnel as travel restrictions the world over are hitting the pockets of hotels and airline companies alike. Many have seen some financial help from their respective central governments but it may be years before they are able to get back on their feet.

As with every recession, there are always areas that are able to remain buoyant even in the wake of a drop in per capita incomes. While many look to other sources of income to ride out the storm, a picture begins to emerge of the businesses that are set to thrive in the current climate.

Here’s a rundown of some of the industries that are enjoying success in these difficult times.

Grocery stores

While medical supplies received an obvious boost following the US government’s report of growing Covid-19 figures in March, other associated sanitizing products also saw a big jump in sales figures. According to a Nielsen consumer behavior survey, sales of disinfectant wipes increased by 59.6% and multi-purpose cleaners were up by nearly 30%. As most of the world settled into lockdown, people rapidly began to stock their shelves with essentials during uncertain times. Products that haven’t been bought in such huge quantities for many years began to feel a resurgence, with powdered milk products, for example, experiencing a boost in sales up to 84.4%.

Cleaning services

As the general public began to understand that Covid-19 could be spread through droplets that stayed on surfaces with the potential of infecting others, demand for cleaning services went into a frenzy. High traffic areas began contracting cleansing and abatement crews to enter two or three times a day with many firms struggling to keep up with demand. In some areas, it was even reported that pest control companies were drafted in to assist. The two industries share many of the same techniques and equipment so it was possible to simply swap out the products being used.

Online gambling

As millions of people were confined to their houses, there was only so much day-time TV they could take. It’s no surprise that many individuals began seeking alternative entertainment, and with all the tech available at their fingertips, it didn’t take long before online casinos and virtual sports betting started to see a sharp increase in activity. Some reports have estimated that growth during Q2 of 2020 could have peaked at nearly 70%, pushing an already thriving industry to new heights. Card games such as poker and blackjack are some of the most in-demand, with slots and roulette also proving to be incredibly popular. If you enjoy a flutter, try out the casino portal Gamble for some great reviews and guides to online casinos you can try today.

Delivery companies

Home delivery firms felt the positive effects of a rise in internet shopping and were already on the up before Covid hit. Everything from food and clothes to tech supplies and face masks were being ordered at unprecedented rates, and it fell on the shoulders of the delivery services to get the job done. With Amazon seeing revenues of nearly 100 billion USD in Q3, it’s little surprise that home delivery services are riding the wave and will continue to do so with the holiday season upon us.

Home tutors

With children being told to stay at home, fear of the resulting impact on their education began to rise. Many schools and colleges provided online classes to bridge the gap, but for many the experience didn’t provide a viable solution in a large group environment. Teachers attempting to control 30+ students who could hide at will found it difficult to maintain the level of learning that would usually be achieved in the classroom. Many parents turned to private tutors to reinforce class material to ensure that time out of school didn’t mean a fall in their child’s education. With challenging times ahead and exams on the horizon, it’s more than likely that this industry will continue to see growth for the foreseeable.

Covid-19 has changed the business landscape forever, and for some industries it has been a very fortuitous period. Adapting to change has always been the key to survival during challenging times and over the next few months it will become apparent who has managed to do so effectively.