Who made the best out of Quarantine?
The worldwide lockdown has had major industrial disruptions, but for some divisions, it's proving profitable. A study conducted in February 2020 exhibits that many startups had prioritised the growth over profit policy, however, once COVID-19 flattens its curves, this approach for markets may vary. But even after such havoc, a few emerged out of the blue and progressed on an unexpected level. Although startups that focused on the below industries were given the benefit of the doubt kind of situation for their accessibility and innovation like-
The truest and toughest surviving industry of all time that will never go out of business. May it be your day to day drugs or the usual pandemic essentials, the pharma companies have boosted their business the most during this time. From staying open during the severe lockdown timings to selling out of most immunity boosters, the virus has served well to the medical industry. The prominent demand for ventilator machines, testing kits, N95 Masks, resistance drugs like hydroxychloroquine has been purchased in millions and transported to international countries that included Italy, Iran, and also the USA. This humongous global crisis has also benefited investors who had purchased shares in pharma firms, as the onwards and upwards stock graph won't be going down anytime soon.
The New Normal came with many restrictions but also with a window filled with opportunities that gave wings to the online learning portals. This didn't just include your mainstream online education courses but the entirety of this method reached a boatload of industries like- culinary, arts, fitness, baking workshops, smart classes for preschool kids, to homemade experts guiding people throughout any session. For example, A university from London can now charge a certain amount of fee and teach a business management course along with official certification. Apart from being safe, this industry has given many amateurs the ultimate platform to showcase their talent online while also contributing a positive growth in their self esteems as well.
When people were sitting hours bored at home, the gaming companies boosted growth that benefited millions. It was not about general data consumption or Time Pass, but more of a wave that took many over. People started indulging in hours of adventure level gaming during the lockdown, and the demand-supply chain quickly shifted from mediocre to trending. From mysteries, wars, battles, 3d Adventures, online multiplayer games, became your everyday breakfast pancake within months.
Organic farming or the so-called local resourcing has been a true saviour when major stores shut down. People were obliged to cook at home with takeouts/deliveries being completely closed for months helped the agriculture combine with technology for easier reach to metro cities. Many applications that were earlier used for just food deliveries or general services collaborated with local farmers and Kirana stores to reach more customers and keep their business stable.
An obvious yet somehow overlooked industry that has assisted millions during the Pandemic. Social media content not only gave a talent platform but also kept the mood going with numerous current affairs 2020 related jokes, funny memes, and constant live news coverage. These portals have had their stocks hiked up in billions as numerous people became religious users of digital media content.
A generally relevant concept and followed only in hospitals became a part of your life like a daily skincare routine. Liquid-based sanitisers, gels, disinfectants, began to see demand rise in billions where a small bottle of sanitiser used to cost around a dollar or Rs. 65 for 50 ml suddenly became Rs. 200 for 500 ml with way more alcohol content to keep every surface sterilised. From small shops, local markets, startup pharmaceuticals to companies that sold just paint colours; everybody became a part and parcel of this industry. A business that came like a last option quickly became a priority for all ages since the arrival of Pandemic.
Stock/Shares Trading & Insurance
Investment companies saw many ups and downs during this phase where markets that functioned live were put on the back pedestal while firms that went virtual flourished on another level. Property rates came down, MNC shares dropped and the need to secure their futures dawned on many. Hence, insurance policies came into the picture. The pandemic has made people realise how expensive those hospital bills are during any distress or accident along with the dread that very little or low financial security would be left behind for the family. From healthcare to term life insurance, every policy was referred, crosschecked, and purchased massively during April to July 2020.
A boon to the world 100's of e-commerce websites and applications kept on operating with dedicated delivery resources throughout the country. This industry has not only progressed but has become a new favourite for many a common man, local store vendors are going online and maintaining accounts paperless with apps like OkCredit. From essential goods to household items, every item that wasn't available during the pandemic were delivered by these international/national commerce chains.
From releasing movies online to binging old tv series on a constant loop, this quarantine has made it do us all. Spending quality time with your loved ones at home became easier with numerous online streaming services. Those subscription numbers haven't dropped since months and people being slowly addicted to their childhood shows, latest web series, and many more options to choose from will keep the viewers coming for more even after the Pandemic.
Since the lockdown started the demand for food and grocery items has been off the charts for weeks. Multiple international and local online FMCG companies have adjusted up their workforces as everyone stays home and avoided going out for shopping day to day essentials. Every online grocery business is stocking up its supplies from favoured brands and assembling associates to fulfil customers' demands. With general marketing tactics like low pricing, discounted rates, and extra-safe packaging anything delivered door-to-door will continue to remain as the best profitable business this Pandemic.
Summing it Up
Apart from these, many emerging startups in India are coming up with unique and upgraded versions of commodities like clothing, cutlery, hotel chains, household articles, rural handicrafts, and cottage industries that will help in further increasing local consumerism.