Leaders all over the globe have enforced a number of pandemic policies detrimental to most businesses. Social isolation, quarantines, and lockdowns cause major disruptions in commerce. In fact, estimates suggest that over 75 percent of all businesses are negatively affected by current pandemic strategies. However, this figure is far from 100 percent, and many businesses are actually thriving amidst the coronavirus spread. And while these businesses are doing well in the crisis, they are likely to flourish long-term as well.
Notably, many of the businesses that are enjoying current pandemic policies are those that facilitate services at home. As work environments move to home environments, new services are needed. Likewise, entertainment companies that favor audience engagement at home also stand to benefit. And with the economic pressures created through various pandemic strategies, low-cost retailers are also in a strong position. Thus, while the pandemic has resulted in many casualties, some businesses are clearly doing rather well in the current climate.
“The world is not going to snap back to being exactly like it was before this crisis happened. We’re going to come out of this into a different world.” – Jamie Metzl, author of Hacking Darwin: Genetic Engineering and the Future of Humanity
Six Industries That Will Benefit from Pandemic Policies
In considering the lifestyle changes that have ensued with recent pandemic strategies, some businesses are well-positioned to succeed. With this in mind, the following 6 industries are among those most likely to do well during these trying times.
- Gaming and Entertainment Industries – It’s no secret that Americans enjoy their entertainment when they have the opportunity. Without restaurants, sports, and other events available, gaming and streaming offerings certainly stand to benefit from current pandemic policies. Netflix, of course, will enjoy a significant increase in viewership along with other network streaming services. Likewise, gaming platforms like Activision Blizzard and Take-Two Interactive will also thrive. Crisis pandemic strategies certainly favor these key businesses.
- Remote Videoconferencing Tools – As most businesses are attempting to shift their workforce to home environments, videoconferencing tools will be in high demand. In this regard, companies like Cisco Systems, Zoom, and others will find increased subscribers. Likewise, telemedicine platforms will also see a huge boost given the many benefits of telemedicine. Teledoc Health and several other businesses will be able to showcase their products as a result. And even personal videoconferencing will see a rise in use making Skype, Facetime and other platforms highly attractive.
- Cybersecurity Services – Hand in hand with the demand for videoconferencing tools, cybersecurity needs will also increase. While work environments are well protected in this regard, home environments are less likely to be so. With current pandemic policies driving workers to their homes, cybersecurity protections will therefore be needed. Thus, businesses like Okta and Zscaler, which provides such cybersecurity services, will see an increase in demand as well. With experts predicting hackers and data threats will rise with current pandemic strategies, cybersecurity will be critical.
- 5G Communication Services – With more people working from home and connecting with others via the Internet, 5G services will also boom. Broadband access and high-speed data transfers, including video streaming, will be essential with new pandemic policies. Therefore, it will be of little surprise that companies like Verizon and Qualcomm will similarly flourish with the new pandemic strategies. Once companies realize the advantages these provide in home settings, 5G communications are likely to become more common.
- Low-Cost and Online Retailers – Naturally, Amazon represents one of the biggest winners with current pandemic policies. Being both a low-cost retailer and having extensive online and delivery services makes Amazon a non-brainer. But likewise, other companies like Walmart and Costco will similarly benefit from current pandemic strategies. Economic pressures will drive consumers to not only buy online but to buy cheaper and in bulk. Therefore, these big-box retailers are also likely to reap the benefits in the present environment.
- Home Delivery Services – As online purchases increase with present-day pandemic policies, companies like FedEx and UPS will also thrive. But other delivery businesses will also see higher demand, especially those in the food delivery business. Domino’s Pizza, recognized for its recent company improvements, will be one such business. Likewise, Bite Squad, Deliveroo, and others will also benefit from global pandemic strategies. These businesses were already seeing increases in services. But this will dramatically increase with millions of people stuck at home.
“Think about how much time we normally lose every day commuting to work. Think about all the carbon emissions that spew into the atmosphere. Turns out that’s unnecessary for millions of people. That’s a huge lesson, and it won’t be unlearned.” – Jim Cramer, Host of Mad Money, MSNBC
Insights for Other Businesses
If the current coronavirus crisis and related pandemic strategies have shown, it is important to be well-prepared. In this regard, businesses need to have a crisis management plan in place that includes events like pandemic infections. Current pandemic policies favor companies that already have remote work platforms in place. Likewise, business strategies that can accommodate rapid shifts to evolving consumer needs is also important. Though this is easier for some business than it is for others, crisis strategies should be considered regardless. At a minimum, this can reduce the negative impacts that will be experienced in these types of environments.
In addition to these suggestions, businesses should also appreciate that the current pandemic will forever change a number of interactions. Many businesses will realize the advantages of having employees work from home. And as a result, new business and consumer needs will emerge well after current pandemic policies are revoked. Those businesses that can predict and address these needs will be best positioned for future success. This will be the case regardless of the industry in which a company finds itself.