Since the lockdown in March, a majority of businesses have come to a standstill or have reached a record low. While the pandemic has been the cause of shutting many businesses, it is also skyrocketed numerous opportunities. Here are some of the businesses that did not only survive, but are flourishing during the pandemic:
- Healthcare – The pandemic has made individuals more aware of the importance of personal hygiene. Repeated announcements from the government and healthcare professionals have caused people to invest more in personal hygiene and health. Since the commencement of lockdown, the sales of the sanitizers have multiplied fourfold, leaping from 100 million users to 430 million users in March itself. This has led to the state suffering a nationwide shortage in the supply of sanitizers. A total of 152 manufacturers have stepped into the sanitizer-making industry to deliver to the demand. The market for masks, too, continues to grow. In fact, it is predicted that a minimum of 5-6 billion more masks are to be sold in near future. Such exponential increase in sales has driven many large corporations, including Amazon, Flipkart, Myntra and Reliance, to invest in the manufacturing of masks. This sudden boom has caused mass hiring from these organizations across the country.
- Online Shopping – After the restrictions were relaxed, there has been a splurge in online purchases, shipments and deliveries. Many platforms like Flipkart and Amazon have seen their sales shoot up to 50%. This has caused both the corporations to go on a hiring spree, with Amazon taking in 20,000 and Flipkart hiring 70,000 new employees. These mass recruitments have been a blessing to many during the lockdown.
- Online Portals – Since the lockdown has been implemented, most of the professional as well as personal gatherings have taken place online. This has brought applications like Zoom, Teams and Meet in the spotlight. The usage of these apps has increased substantially during the past few months. Zoom grew from 10 million users a day to 300 million within 12 weeks in India. Google Meet, likewise, has witnessed a 30-fold growth in its market with up to 3 million new users’ every day around the world. On the other end, Microsoft Teams has seen a 1000% surge in March itself. Such pressure has compelled these corporations to start investing and hiring more people in the country. MS teams had announced that they will be hiring, and making fresh financial investments in data centers in India. Zoom, too, announced a hiring spree to keep up with the growing requirements.
- Health and Wellness Industry- With the pandemic forcing most individuals to stay home, a big chunk of the population is unable to hit the gym. This has led to many people purchasing home-equipments for working out. There has been a significant upsurge in sales of fitness equipment. The growth rate of online-bought fitness equipment from February to March was of 535%. There is no other explanation to this sudden shift as anything other than a reaction to COVID-19. The pandemic has given people enough time to reflect on their lifestyles, and this steep rise could be due to more and more people being careful about their health.
These businesses along with others have become a major source of employment in the pandemic. Contrary to popular belief, they continue to grow providing more and more people a source of stable income and lifestyle at such uncertain times.
There has been a general estimation regarding the change in the norm globally. Even when the pandemic is over, it is possible that we will all be very prone to this new form of normal. So much so that we may even continue functioning with it. Thus, there is a high probability that the pandemic has altered our way of living forever by introducing ways that are, in all likeness, here to stay for long term.