Top 5 industries benefiting from coronavirus
It’s been more than a year since the pandemic started. We have seen drastic changes in the policies of every country around the globe. Global pandemic and massive lockdowns will have a long-lasting effect on many industries. There are only industries benefiting from coronavirus. Pandemic is very bad for the world economy in general, but there are few industries benefiting from coronavirus. In today’s post, we will focus on those companies thriving during covid.
Table of Contents
Ecommerce
Selling online has been since 1994. We have seen the rise and fall of many digital brands that solely focused on digital marketplaces. Amazon, Ebay and Walmart are the biggest brands that thrived back in the final decade of the 20th century. Ecommerce is one of the industries benefiting from coronavirus, definitely the biggest one.
Market capitalization of Amazon
ECommerce is the first industry that got the biggest boost during the pandemic. Platforms like Amazon, Ebay and Shopify have seen massive rise in traffic (daily users that spend money on products) and sales. Amazon market capitalization has gained more than $600 billion in just a few minutes after the pandemic started. It’s just a pick of the iceberg if we take a look at other stats from Amazon. Experts have seen explosive growth of Amazon, Ebay and other digital commerce platforms during the first lockdown. Financial advisors from Forbes suggest that the ecommerce trend will stay relevant for upcoming years. Lockdown and Pandemic have shown the true potential of ecommerce.
$108 billion in sales in first quarter of 2021
Amazon posted another update in 2021. With the latest date, NYTimes wrote a comprehensive guide on how ecommerce will go far this decade. Amazon made $108 billion in sales in just the first quarter of 2021. Experts suggest that Amazon can reach another height in the fourth quarter of the year. According to Bloomberg, Jeff Bezos’ net worth increased by $80 billion in just one year. Amazons’ stocks and market capitalization increased, therefore Jeff had a perfect year. It’s visible that Ecommerce is the future and pandemic just expedited the results.
Watch CNBC Business experts opinion about Amazon's success during pandemic
Shopify and other ecommerce start-ups are coming for domination
Not only Amazon, but other ecommerce platforms have seen a rise in sales and revenue. Shopify is a platform that allows any person around the globe to create an online shop. You have everything in hand – payment processing system, design, beautiful templates, plug-ins and psychological add-ons to start selling/increase sales online. Shopify has seen 110% growth in revenue in 2020.
Remote working softwares and applications
During the global pandemic and lockdowns, companies were struggling with adequate working space. 99% of the companies decided to stay away from office. After 15 months of global pandemic, remote working is a new normal. Applications and platforms that allow companies to track remote workers had a big success from the start of the pandemic. The world of business was slowly walking towards the remote (or hybrid) style of work for the last couple years. Start of the pandemic was a catalyst and now it’s a new normal. Along with e-commerce, remote software was one of the industries benefiting from coronavirus.
Rise of Microsoft Teams
Teams is the application (and online platform) that allows companies to work track and see what workers are doing remotely. Online calls, conferences, chats and other options are perfect for remote or hybrid work. According to the official sources, Microsoft Teams has 140 million daily users around the globe. It’s a massive rise for the company that has only 10 million active daily users by the end of 2019.
Watch Pete Matheson's video comparison of the biggest remote working and learning apps
Rise of Zoom
Zoom is another company that got a ‘spotlight’ during the pandemic. By the end of 2020, owners of the company mentioned that they have 300 million active users daily. It means that Microsoft’s main rival had twice more active users since pandemic started. Not only companies but also many universities and schools use Zoom’s services for online schooling. Zoom was very steady throughout the pandemic year (2020). There were some technical issues from Microsoft Teams, so Zoom became the new trend in the e-working and e-learning space.
The founder of Zoom talks about the success of Zoom and how lockdown was blessing in disguise for the company
E-learning industry
There are many platforms and applications for making e-learning more addictive for the students and professors. Governments of top-tier countries closed schools and universities as a first threat. Thousands of students together could be the catalyst for the spread of the virus. That’s why e-learning platforms were very important for these kinds of organizations. Along with Zoom, Teams and Slack other e-learning apps became more popular. Latest studies show that people spend more time at home. So, they try to learn something new every day. For instance, language learning applications have a massive rise in usage and sales since 2020.
Movie streaming platforms
Netflix broke all possible records in 2020. The founders of the company say that it was unbelievable to see how far the start-up has come. It was just a start-up 10 years ago with no trust from the public. Nowadays Netflix is the biggest movie streaming platform around the globe. Netflix broke another record in 2020. Company gained 37 million subscribers in just a 1 year period. The previous record was 20 million paid subscribers back in 2018. In 2020, Netflix surpassed 200 million paid and active subscribers around the globe. Disney+ is following the same steps as Netflix.
Watch short and interesting video about Netflix Rise during pandemic
Pharmaceutical and medical devices
Pandemic and viruses in general are the biggest threat to humanity. Especially in 2020, we have seen a massive rise of pharmaceutical companies. Big companies that started working on vaccines successfully, they got billions of dollars in funds and contracts. Pfizer was one of the most successful Pharmaceutical companies in 2020.