How Coronavirus is Giving Rise to New Business Growth

The coronavirus has certainly changed the way we do business, as it has shifted most of our lives online. And while the prevalent topics of the day are certainly health-related, the business world is focusing on all the ways you can stay open and operational in these uncertain times, with small and large businesses alike keeping their brick-and-mortar doors closed for the time being.

In certain industries, layoffs and bankruptcies are becoming more common than ever, while others are (perhaps more or less surprisingly) thriving. Let’s take a look at some of the businesses that have seen a rise during the pandemic.

Online workouts

Once lockdown was set in most countries, we have all been robbed of the luxury of a gym workout.

However, gyms, personal trainers, and fitness influencers have found a way to circumvent the problem. They have taken to their blogs, YouTube channels, and websites, and started posting daily or weekly workout routines.

Instagram is also full of live workouts, and it seems that the globe has never been working out as much as it is today, as even those who have never had a gym membership in their life are ready to do some yoga at home.

Meal planning and meal prepping

Paired with the exercise health kick we all seem to be on, meal planning and cooking, in general, has also been on the rise, and many businesses are taking advantage of the trend.

As it is undoubtedly much more difficult to cook and prepare food ahead in these uncertain times, sticking to a specific diet and knowing what to make when you’re not used to cooking is the challenge of the day.

However, it doesn’t need to be a problem – a lot of meal planning services are offering clearly defined meal plans, like what Ultimate Meal Plans has done. With the aid of a similar plan, you don’t need to spend too much time figuring out your next meal.

Social connections

While we are all social distancing, it’s no wonder that we have taken to all kinds of digital apps to stay in touch with our friends and family, as well as to get all of our work done from the comfort of our homes.

In such a climate, can we wonder that Zoom, an online video call app, has seen more users than ever before? Apps like FaceTime, Skype, and a whole variety of chat and video apps are also being downloaded more than ever before.

We’re also much more into playing games, and Animal Crossing seems to be a clear favorite, while all streaming services have also seen a steady rise in users (specifically Netflix and Disney+).

What remains to be seen is whether these services will experience a drop in users once the pandemic is over, and how that will impact their Q4 goals.

Toilet paper and other amenities

Naturally, any pandemic will see a rise in deliveries of all kinds. But companies that have seen the most profit deal in everyday essentials: groceries, toiletries, medicine, and perhaps surprisingly, toilet paper.

One drawback that has arisen from all of the orders that are now virtually going out all over the world are the long waiting lists that sometimes stretch over weeks. Companies are rushing to fulfill orders, looking to hire even more delivery drivers and make their online stores even better stocked.

This is another trend that might continue once the world goes back to normal – after all, who would want to lug a shopping bag home, if you can have everything delivered.

And then there’s Amazon.

Of course, perhaps unsurprisingly, the one company that has so far probably benefited the most is Amazon. With their fast delivery, the incredible variety of their offerings, and their premium services readily available even when everything else is not, the ecommerce giant has seen a rapid rise in sales.

However, some of its actions remain controversial, as news has surfaced of the way its workers are being treated in these uncertain times, when they have suddenly become as essential as medical staff.

Final thoughts

While the global economy is certain to take a hit during these difficult times, certain companies have either been creative enough – or lucky enough – to place themselves well, and can hope to weather this storm better than others.

This article does not necessarily reflect the opinions of the editors or management of EconoTimes