Corona is widespread all over the world bringing recession to many sectors. Many industries are badly affected due to this pandemic and their sales have got down to nearly zero. Demand and supply plummeting for various sectors are a global issue and many people will be losing their jobs in this crucial time.
However, some industries, services, and platforms are still thriving during the Coronavirus outbreak due to the increasing demand. Their sales and revenue are increasing amid the global lockdown. Today, we will have a look at these thriving industries between Corona and know about it in detail in this post. Pitango venture capital which is the largest VC company of Israel says that these industries and platforms will be having a good time during this outbreak increasing their revenue.
Let us check them out now.
Online Education Platforms
Due to lockdown, people can’t go outside of their house and so there is no chance of students going to school or college for their studies currently. But they can study at home via online education portals for sure.
Websites and applications featuring remote learning have an increasing demand these days. Parents are not wishing that the studies of their children get affected due to this pandemic and so want to take full advantage of the online learning websites and apps which is good.
Students can access the online materials, videos, lecture series, and tutorials and can continue their studies at their home itself. These websites and applications majorly run on a subscription model and they are benefitting a lot due to the increasing demand these days.
In China, TAL Education is booming currently and its owner (Zhang Bangxin) has a current net worth of $10 billion. He is currently coming in the list of the top 25 wealthy people of China. The company has partnered with many public schools in China and is providing tutoring sessions.
In this crucial time, Edtech companies are becoming a good source for students to continue their studies and ultimately it is benefitting the teachers as they can earn their livelihood by recording the video sessions and preparing the course materials.
Pharma industry is proliferating these days as the demand for medicines, drugs and clinical items is not going to decrease. Doctors and hospitals are requiring even more clinical items and medicines to treat Corona patients. The demand for sanitizers and masks is not going to cut down any soon. Wellness apps are also preferred by people currently.
Midcap companies are doing good at this time and the stocks are moving up. Torrent Pharma, Alkem laboratories, and Natco are some of the names that are doing pretty well. However, the large caps are down and giving negative returns to the investors.
Grocery Delivery Apps
There are so many people currently locked down at home all over the world. They need food, groceries and other essential items for their survival.
Though there are local shops open for people to buy the grocery items, there are grocery delivery apps too using which people are ordering online and the ordered items are delivered at their home. This is increasing the sales and revenue for the grocery delivery apps at this point in time due to huge demand.
There is an increase in the downloads of mobile applications to order groceries. For example, Alibaba’s grocery app got nearly 100,000 downloads in a single day which is huge. Not only in China, but the demand for online grocery delivery apps is increasing all over the world during this crucial time.
People are avoiding going outside of their house to stay safe from Corona and the business for these apps and delivery service is going to get increase till Corona lasts. It is good that people want to avoid any contact and so the contactless deliveries are widely popular these days too.
Food delivery apps are having contactless delivery service where the delivery boy leaves the food packet outside your house and then you can collect it at your convenient time. In this way, you won’t have any contact with the delivery boy and so there is no chance of infection.
Another industry that is booming in current times is the gaming industry. Youngsters are spending their time playing games amidst the time of lockdown so the number of downloads seen in the gaming industry is increasing currently.
People who didn’t play games that much earlier are also playing them currently with their friends and this takes this industry to new heights.
Nearly 222 million downloads of various games have been recorded in China from the App Store since the month of February. Esports have been canceled during this time and the game streaming platforms are having a great time these days. Many games have got increased popularity like PUBG, Honor of Kings, and many more.
Many entertainment apps are in demand these days as people need to have some source of entertainment at home and they can’t just sit idle all the time. Tiktok is used very much in China and in other parts as well. The user base for YouTube, music streaming platforms, movie and web series streaming platforms and news apps is increasing at this time.
So, these were the thriving industries amongst the pandemic of Coronavirus. These sectors will be doing good in the next few months and will be having significant demand for sure. Stay safe at home to protect yourself and your family from Corona! For more information, visit Financeshed.