With global recession looming on the horizon, industries across all fields are gearing up for the worst as they expect the full impact of the coronavirus pandemic. However, there are a few winners in the game who have managed to stay afloat. Obvious ones like on-demand logistics, health care, and entertainment are expected to flourish. There are also the more subtle ones—industries like venture capital and content marketing are waiting to recognize their full market potential as people start to adopt this idea of a new normal.
Below is an alphabetical list of industries that might be seeing unprecedented growth over the next few months.
A – Alternative energy
With the economy at a standstill, one way for society to get back up and recover after the pandemic is by harnessing the full potential of what alternative energy can offer. Since more companies have bandwagoned to voluntarily commit to clean energy, a possible push towards a transition to a greener future might be easier to implement with a clean slate.
B – Banking
Because of the restricted movement of cash among households and businesses, banks are providing loans to companies who want to bounce back stronger. As one of the few industries keeping the economy together, banks serve as temporary stabilizers holding off financial collapse at this time of crisis.
C – Content marketing
Contrary to what is believed, marketing a business has turned easier now that everyone is constantly online. Research has found that 43% of consumers are comforted to hear from brands they “know and trust” at this time of uncertainty. If a company is looking into digital presence, perhaps now is the best time to do so.
D – Digital collaboration tools
Market for digital collaboration tools has never been more in demand. In just a span of a few months, the likes of Google Hangouts and Zoom have become crucial to keep in touch with others. In fact, the latter has already reported a 50% increase in its share price since the pandemic began.
E – Entertainment
For most, the normalcy of daily living has halted, especially after the call to work and school has been suspended. This growing need for entertainment is reflected in the surge of social media use such as Facebook, which saw a 37% increase in usage since the outbreak began. The anxiety brought about by the pandemic beckons people to keep their mind off of the current state of reality.
F – Food delivery
Since the implementation of social distancing, food take-out and delivery has spiked. Although Foodpanda and Order by Zomato have been dominating the food delivery market, the logistic likes of Grab, Angkas, and Lalamove have halted normal operations and switched to put primary focus on providing food delivery services (GrabFood, Angkas Food, and LalaFood respectively).
With restaurants and malls closed, only pharmacies and grocery stores are left open during the enhanced community quarantine period. Hoarding is not only an all too common occurrence, but people have begun stocking up on canned goods and easy-to-cook meals in case the lockdown is extended for a few more months.
H – Healthcare
The demand for doctors and nurses is at an all-time high. After the dust has settled, there is now a sense of newfound awareness to prepare in the future and invest in better hospitals and professionals should another health crisis happen again.
I – International trading platforms
Although it can be argued that the stock market engagement has decreased thanks to investors panic-selling stocks out of fear, aspiring investors have started to engage with short-term strategies like day trading, swing trading, and shorting to bet over market fluctuation. In eToro, there have been significant shifts in trading preference among Southeast Asian users. People are looking at opportunities outside of local markets as they eye the larger potential of tech sectors in international markets.
J – Job platforms
In a fight against unemployment, job platforms like LinkedIn, Indeed, Glassdoor, and JobStreet offer listings of remote work. The good news? A significant number of companies are still hiring during the pandemic.
K – Knowledge base software
As companies practice working from home, work efficiency is often sacrificed. Knowledge base software is the solution to efficient collaboration and management, where collective company knowledge is stored in a central database. Companies are looking into software like these for business continuity done in the confines of home.
L – Logistics
As they encourage the public to stay at home, logistic services are here to stay. Going beyond the bounds of traditional logistics couriers, logistics has been redefined in this era with the arrival of Lalamove and Transportify. As soon as the pandemic is over, many will have grown to become accustomed to these on-demand logistic services and might just be unable to let the convenience go.
M – Medical device manufacturing
For obvious reasons, purchases on medical devices are skyrocketing. This includes basic protective supplies like face masks, hand sanitizers, and disinfectants. As hospitals are overrun with patients, there is a necessity to provide and expand current facilities and equipment to accommodate those at risk of coronavirus.
N – Non-store retailing
Due to the quarantine, many are unable to physically purchase the goods they need in store locations, creating the demand for more accessible avenues. Simply put, nonstore retailing is just another term for e-commerce that accounts for both direct sellers and resellers.
O – Online education
Since schools nationwide have cancelled on-site classes, universities have resorted to online learning. Additionally, it has become an opportunity for self-improvement. Adults with spare time on their hands have also navigated their way into online courses with the option of becoming either the learner or the teacher in a class.
P – Productivity applications
With so much time in our hands, there is always that lingering question of productivity. However, due to the anxiety brought about by the pandemic, many have found it difficult to do things that would normally be considered valuable or efficient. Thus, they resort to apps that organize tasks, increase focus, and set reminders to boost productivity. Most importantly, it reminders users to take a step back whenever feelings start becoming overwhelming.
Q – Queuing services
Nobody likes queues. With social distancing in place, line queues for supermarkets and bill payment counters can take up hours at a time. Most have turned to queuing services like Skiplino and MyKuya in order to save themselves the hassle of lost time and effort.
R – Remote work platforms
For nearly two months now, working from home has become the new norm. It’s not just a fad—in fact, 99% of the 2,500 remote workers surveyed said they wanted to work remotely for the rest of their career. Like productivity applications, companies would need to track employee progress in order to truly move forward. Having a separate platform solely for work purposes like Slack and Hubstaff often does the job.
S – Streaming services
Similar to the entertainment industry, streaming services is one of the many ways people choose to pass time during this period of slow down. Netflix has almost become a household necessity, so much so that they reported their highest viewing traffic of all time. It got to a point where they had to reduce bandwidth consumption in Europe just to meet demands.
T – Telecommunications
Without telecommunication, there would be no telephone, television, and the internet—services that continue to connect people to the outside world. Since everyone is in the practice of self-isolation, the increasing role of telecommunications in daily life is reflected in statistics, especially to those who are working from home.
U – Utilities
Even at a time where everything is abnormal, necessities remain as necessities. Utilities like water and electricity are expected to spike given that everyone is staying at home and consuming more of these. Fortunately, some utility companies decided to practice compassion by continuing service even for late fees and non-payment.
V – Venture capital for coronavirus-related startups
Even in the midst of a global pandemic, venture capitalists cannot be stopped. With new industries emerging, there is a need for investors to pave the way for company growth. For instance, Antler has offered to fund startups that propose solutions to problems brought about by the coronavirus.
W – Wellness
After coronavirus has been reported to be fatal to those with weak immune systems, we will be likely to engage in physical activities, especially after being sedentary during the quarantine. Aside from physical wellness, it could also point to psychological services that cater to proper coping mechanisms in line with the pandemic.
X – X-ray medical diagnosis
Patients who are suspected to be infected with the coronavirus undergo chest x-ray in the case when CT scans are not available—however results are not as accurate as hospitals hoped it to be. Currently, medical research is in the works to identify signs of the virus solely based on chest x-rays, which is expected to boost in usage once approved.
Y – Yield management software
The circumstances in which this pandemic has left the economy is unpredictable—there’s no doubt about that. In an effort to sustain growth, yield management software will be used frequently by companies to accurately forecast demand and maximize profits based on current consumer practice.
Z – Zoology
Much criticism has been drawn to the wet markets in Wuhan, China for causing the coronavirus outbreak. With vague assumptions of its origin comes international attention on how these viruses came to be in the first place. The lack of research capacity can lead to future pandemics, propelling the need for advanced research on wildlife populations.
Although there are still questions as to whether surges among these industries are temporary or for the long run, one thing is for sure. In the end, there are silver linings to everything—even in the midst of a pandemic. In this case, the cards are drawn by pure luck.