There is a general mood of melancholy across the world around COVID-19 pandemic. Many lives have been disrupted, some with no way out. A sense of doom prevails for many and many are struggling to make ends meet.
However, there are a few bright spots that seem to be thriving in the current scenario. Despite the gloom, they are doing well and are facing spikes in demand for their products and services in these testing times.
Thriving businesses in the current scenario
These interpretations and conclusions are based on research by leading market research companies.
Consumers continue to do bulk purchases for their essentials, leading to empty shelves in stores at a faster rate. Sales are driving up and retailers are multiplying profits. Groceries in turn are responding to the need of the hour and have measures like home delivery, social distance rules in the shop and such, in place.
Stay at home scenario had led to more online shopping, especially for essentials, health products, sporting equipment, art and craft and so on. Not just now, online retail could be the more popular shopping option for some time to come. Without the discomfort of moving around in caution, consumers can shop at their ease and convenience, picking from the array of options available to them.
Consumer health products are likely to have more demand in the times to come. Companies that are into manufacturing, marketing, selling of consumer health items like cough, cold, flu etc. and also immunity boosting supplements will have increasing demand.
Medical gloves have become crucial and may be facing shortage currently. Also in demand are all sorts of sanitizing products like hand sanitisers.
Remote patient monitoring has gained momentum with the onset of covid-19. It’s becoming an essential service since people want to stay indoor and minimize exposure. Although telemedicine was a developing trend, it had been difficult to convince people about its benefits, until now. However, with social distancing becoming the norm now, its critical necessity is being realized.
Researchers and companies all over the world are trying to make an effective vaccine for the deadly corona virus. Due to the demand for the same, the market is expected to see a substantial spike in the immediate years ahead.
Video calls have become a part of life, with remote work and online education being conducted over these. Also, social activities like book groups and religious groups have taken to online video platforms.
In order to get company and also for kids, more people are adopting cats and dogs for their homes. New owners are key buyers of products for their pets, thus leading to spike in sales of pet foods and treats, a major boost for the industry.