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What does the word “Pandemic Covid-19” mean? Deaths, Unemployment, Economic Crisis, Poverty, and whatnot. What other depressing thing that you can think of would come here. In 2020, we were hardly able to hear any good news. Mostly, we have been fed negative information.
This Pandemic Covid-19 has proved to be a Time of Crisis for all of us, regardless; of which part of the world you are sitting in right now. But one thing that we ignored is “Businesses Benefiting from Covid-19”. Yes, there are indeed some industries that boomed during this period. Due to the depressing news, we were unable to look at this side of opportunity.
Today, here I will drive you through 5 startups that crossed their past earnings just because of this Novel Covid-19.
List of the Businesses that Benefited from this Covid-19
1. Tele-Health Services
One of 5 businesses that were prominent and got Boom, I mean “LITERAL BOOM OF SALES,” were Tele health Service Providers.
Due to COVID-19, everyone was trying to sit at their homes, escaping the Virus and following SOPs given by the Government. In that period, there was a surge seen in Telehealth Services. If we do a systematic analysis of Tele health Visits, 50% nationwide throughout the Pandemic was observed.
As we know, there is nothing that happens without reason – the same goes with Tele health Services. Because these services allow us to consult these doctors just by sitting at home through a laptop, tablet, etc., this is thought to be the best option available for individuals who may be at a higher risk for contracting COVID-19 if they become exposed to it in a medical facility.
Those who were not health conscious rather than lazy, those who didn’t see this time as a golden opportunity to hone their skills and acquire new ones, saw this time as being heavy-eyed by just slumping on their sofas and watching television. This was when Online streaming came to the rescue – and Netflix saw a massive surge in their subscribers just in 2020.
Nearly 16 million people created accounts in the first quarter of the year, as Netflix said.
Despite the firm’s popularity and profitability, it offers exclusive access to hit TV series and movies that people want to watch. However, still, this Pandemic Coronavirus was strong enough to handicap its progress. And its ability to come up with new programming was affected due to shooting closures. However, entertainment industry experts do not see that as a significant issue.
According to marketer analyst, Eric Haggstrom “Netflix is and will continue to be the media company least impacted by Covid-19”. “Its business is a near-perfect fit to a population that is suddenly housebound.”
In a nutshell, The home entertainment sector was the beneficiary of all the travel bans, mandated self-quarantines for returning travelers. Sports venues and movie theaters were almost banned due to social distancing Online streaming came for the rescue mission.
This period affected almost all the businesses worldwide; Education was the area that wasn’t safe from the Virus’s attack. This wicked Pandemic was indeed a Blood-Thirsty that even didn’t think for a moment before stabbing Students’ lives. To cope with that, nearly every School, College, and University went online.
There is a famous saying that Crisis is a period that gives life to the most Creative Ideas. By following this, educational institutions opted for E-learning software. This was a period that is credited for providing a boost to Ed tech.
Zoom a Video Conferencing Software, which was launched way before this Pandemic, saw an actual surge of users in this Bleak Period. This Video Conferencing Software Became a video conferencing leader during COVID-19 and became a Go-To Choice of Users. Zoom’s adoption rate surpassed previous industry frontrunners GoToWebinar and Cisco during the past three months when companies scheduled virtual meetings when it became impossible to host in-person gatherings.
4. Online Shopping
There would be no one who isn’t crazy about Shopping. Everyone, including Boys and Girls, gets stirred up when it’s about Going to Big Shopping Malls and feeling every single bit of that moment. Where this was already a Bleak Period also came with Icing on the Cake in terms of sad news for Shopping Freaks “There would be no more Physical Until Pandemic Corona is Over.”
As said earlier, Crisis is a period that gives birth to the most Innovative Ideas. Subsequently, E-commerce, an alternative to Physical Shopping, took over this Conventional Shopping because it’s an alternative and the safest option.
E-commerce surpassed levels not expected until 2025 due to the COVID-19 Pandemic, expected to bring in over $843 billion in sales this year. More consumers are shopping for groceries online than ever before, with 58% of consumers now comfortable using digital tools to assist with online grocery shopping. That number includes 71% of Gen Z and Millennial shoppers and 44% of Baby Boomers. In 2015, just 35% of shoppers were comfortable with online grocery shopping. What’s more, a significant 68% of new digital grocery shoppers say they will continue to shop online for groceries in the future.
5. Online Payment
In this period of Covid-19, we were told, “Virus is spread through Currencies as well like Notes and Coins” because you exchange them during a transaction and come in touch with another person.
To follow SOPs laid by Government and keep transactions going simultaneously, many financial institutes came with a bang and introduced innovative solutions of Online Payment.
And that’s all for the day, exploring exciting businesses that were raised massively after the Covid-19 Symptoms! I hope you enjoyed reading the overall article and would love to endorse your feedback about this article in the comment sections. Good luck with the reading!