COVID-19 has brought a whole lot of changes in the current business world also. As majority of the world population is spending more time in their homes, the economic conditions are also falling off a cliff. But there are also some peaks and spikes in some of the businesses. People have become absolutely dependent on mobile phones for survival because it has become the only way for most to communicate, to shop, to order food and also for entertainment. Here we show you some peaks and valleys in terms of business in some of the industries in the recent times:
It is obvious that when people stay home and there is a pause in work, entertainment sector such as gaming will see a surge and there is, indeed, a rush in the gaming industry. Gaming companies are seeing a peak in their revenue.
With most national governments restricting people from going outside of their homes and enforcing quarantine, people are forced to buy online especially essential goods such as grocery and vegetables. This is the time when brick-and-mortar retailers are facing crisis. It is expected that this trend of people buying online will eventually become a habit or lifestyle.
No more social gatherings and partying means more time on social media. Also social media is extensively used for business purposes and remote working. This category is expected to witness a continuous growth.
Hotels, air travels and hotel and travel booking sites are ones who took a major toll due to the covid-19 outbreak. In short tourism industry is perishing, and its future also appears very dim.
News and information
The time spent by people on news and information companies is more than ten times from early January to the third week of April. Surprisingly, people are not just interested to know about Coronavirus, their quest for knowledge and information is going manifold.
Online learning portals
Business wise online learning portals are having their best time during this pandemic. This is the time people want to spend time and money on learning new and updating themselves. Students are left with no options but to learn online.
Digital marketers need to make their decisions faster by getting a clear and quick insights about the trends in the current businesses. With the right marketing analytics, companies should carefully spend on the ads and make the right decisions in order to increase their ROI. The crisis caused by the pandemic is a huge hit to the human kind. The pre and post pandemic worlds will be significantly different to us.