Coronavirus Impact: Is There Any Positive for Businesses?
As the respiratory illness COVID-19 spreads across the globe, a lot of social distancing measures such as work from home are being implemented to curb its spread.
Millions of businesses have forced their employees to quarantine so that they can protect themselves from the coronavirus by working from home.
On the one hand, with cities in lockdown and travel restrictions all over, industries like tourism, hotels, supply chain, trade, and cinemas are in disarray.
On the other hand, some industries are receiving a growth impetus because of the unprecedented crisis.
Sectors Positively Influenced by the Coronavirus Pandemic
Every industry, organization, and function is adjusting to the changes that have been caused due to the coronavirus. Some struggle, while others thrive!
Let’s have a look at the industries that have come out to be a winner during this pandemic:
1. E-commerce/Grocery
Consumers are moving online to fulfil their basic necessities. It is accelerating digital commerce with contactless delivery schemes.
Consumers have been making impulsive purchases, and stay-at-home offers have impacted the grocers around the globe with a rise in the delivery orders.
2. Logistics and Delivery
The greatest immediate impact has been seen in this sector since the pandemic. Businesses have also reconsidered their delivery strategies to give their customers more informed and transparent information about the products to be able to serve a broader audience at the earliest.
3. Video Conferencing
The pandemic is making individuals more tech-savvy today. A vast population attends virtual educational seminars and daily official meetings. This has resulted in a spike of the use of video conferencing applications such as Zoom, Slack, BigBlueButton, etc.
In fact, the Zoom video conferencing app has been leading the download charts around the globe since the lockdown began.
4. Data Security
The increase in the usage of online platforms has risen the need for secure accessibility. A lot of companies are relying upon their security procedures for the protection of their critical data that they’ve been uploading over the internet during meetings or while collaborating with clients and colleagues.
5. Entertainment Apps/ Games
Activity on websites/ applications with their niche in the entertainment sector has seen enormous growth in this quarter. However, a significant increase has been seen in mobile traffic, as people sitting in their homes prefer cell phones over laptops or desktops.
Stay-at-home companies like Netflix, YouTube, Facebook, to name a few, are benefiting from the outbreak. A recent survey from Statista has seen an increase of 21% in social media users globally. Other than that, internet gaming applications are also going popular at this time of the year.
6. Cloud Services
Cloud is playing an inevitably essential role during this crisis. A lot of businesses are closing their physical offices and opting for cloud-based services. While for others already using cloud services, it’s the right time to test their business’ continuity.
As it is said, one man’s loss is another man’s gain.
But, don’t get disheartened if this isn’t the best time for your business to flourish. Instead, individuals must utilize the most valuable resource: time, that we were all short of before the pandemic.
Here’s what you can to stay in the game:
1. Up Your Skills
Since we’ve all got the opportunity to sit back at our home, let’s not waste it by doing nothing. Encourage your colleagues to utilize this time to enrol for some skill development courses on online learning platforms.
Instead of binging on shows online, utilize that energy into something more productive that could benefit your career.
2. Mental Health
Don’t overstrain your nervous system by stressing about the future of your business. We’re all in this together and will get out of it together! Calm your mind by meditating regularly and exercise to stay fit even while at home.
Find a self-care routine that suits best and encourage your colleagues to follow one as well.
3. Global Pool of Talent
Working from home has given us the opportunity to hire talent without any limitation to the geographical locations. Organizations that offer remote working attract a larger bucket of expertise that is hungry for flexibility. Also, they save on hiring costs, such as relocation fees.
4. Individualized Environments
Don’t let ‘work from bed’ hamper your productivity and your personal health. Create your own office in the corner of your house away from distractions to produce more efficient results.
The ongoing coronavirus outbreak is affecting the way a lot of businesses work- for better or for worse. In the end, it all boils down to how an individual adapts to the environment. So, keep working hard and don’t lose hope. We’ll all come out of it stronger!
