Coronavirus Economy – is any company Pandemic Proof?
In the strange times in which we find ourselves most of us are prioritising safety above all else but, in the background, is the looming concern regarding the economic impact of lockdown. Globally, stock markets have dipped, unemployment has risen and oil prices have crashed but, despite this, some companies have actually seen a huge upturn in popularity and profitability. We take a look at some of the sectors who are weathering the Coronavirus storm.
- Video Conferencing – applications such as Zoom, Skype for Business, MS Teams and Slack have all reported unprecedented numbers of new subscriptions. Working from home and social distancing has meant millions of people are increasingly looking at new ways to stay in touch with friends, family and colleagues.
- Entertainment – everyone’s favourite on-demand streaming platform Netflix has found itself becoming more popular than ever as those trapped at home binge-watch their favourite shows. Reports confirm more than 16 million people have signed up for new accounts since the beginning of the year!
- Groceries – although the initial panic buying is over, many still feel the need, in uncertain times, to keep their food cupboards very well stocked. There has also been a large increase in the amount of people ordering their weekly shopping online meaning many supermarkets are recruiting heavily across the board.
- Online Shopping – with fears around social distancing and limited physical shops open, online retailers such as Amazon have seen a massive increase in orders. Latest figures suggest more than 200,000 extra workers have been recruited to cope with the demand as retailers strive to get goods packed, shipped and delivered on time.
- Healthcare/ Pharmaceuticals - with the huge increased demand for antiseptic wipes, gels, face masks and gloves many medical companies have seen a massive surge in sales - boosting profits and leading them to take on additional staff to deal with demand.
Right now, the future is uncertain but it is heartening to know that many businesses are not just surviving but thriving within the current economic climate and we think it gives hope, to us all, of brighter days ahead.