COVID-19 has put the entire world and global economy into an immense pressure. Many countries are expected to enter into an unprecedented recession.
Businesses are going to get affected very badly and only a few are going to survive this pandemic. It will force many industries or businesses to restructure themselves and would bring change in their strategies.
As more and more people are working from home and socializing remotely various companies are coming up with ideas that can help them sustain in the longer run.
Based on our research and analysis, here we bring to you the businesses which will sustain and would grow post corona era.
The matter of the fact is many people are going to stay home and would avoid shopping in person. Some of them who are quarantined would be preferring to order their required stuff online.
Hence, the e-commerce industry will always be the best option. E-commerce industries dealing in consumer goods, groceries, staple items are already performing well.
This would also be an ideal time for these companies to understand their audience's buying behavior, their demographics.
It will help them dive and generate more insights which can further lead to an improvement in sales.
Research has indicated that people are already beginning to avoid shopping at malls, public places like they used to do earlier.
Many eCommerce giants are planning to expand their teams like Flipkart is planning to hire close to 12000 employees and some of them are even training their employees for installation and other purposes in consumer electronics, portals, and so on.
They are being trained so that they can explain and give a demo on the phone or online. For Example- For a product like Microwave- The team can give an online demo and explain its functioning.
If you have any business idea or you are a start-up then you can plan to showcase your products on any of these platforms.
Hence, the e-commerce industry is here to stay and flourish for long.
Digital marketing companies will grow no matter and it is estimated that they will do business worth 25000 crores and more.
You can either enhance your skills in any of the digital marketing skills to support them. These can include- Social media marketing, video marketing, SEO marketing, Google AdWords, and so on.
If you want to start your business then you can start with your agency or if you are seeking employment then you become a specialist in any of these marketing profiles and apply for jobs.
You can also become an influencer and become a brand in yourself on different social media platforms.
No matter what the situation may be people will never stop continuing education of their children as well as enhancing their skills for career development.
No doubt with the current pandemic many educational institutions and schools are closed. But online education has already become hit amongst the masses.
UGC has planned to make online education an important aspect and many courses would go online.
Many classes are already being conducted online where students are being provided with modules, syllabus, and study materials.
Research indicates that people have utilized online education the max in April. So if you are an expert you can take online classes or you can help someone to get themselves established online.
This is again another important area which we are sure people are never going to neglect. Now people are becoming more aware and conscious about their health.
They have already started implementing hygiene as much as possible. Therefore, the healthcare industry is the one that is going to be recession-proof no matter in whatever situation we are.
This sector has become even more important as people have become very particular about health, exercise, eating right and so on.
Earlier people rarely used to consult the doctors but now they are making it a practice to have regular check-ups done.
So if you are keen to start something of your own you can provide support to health care industries like hospitals and so on.
You can also become a professional or an expert offering Dietician tips, Physiotherapist, Yoga expert.
Hence, software like team management software, networking software are in great demand. Digital wallets are being used extensively like never before.
The technology sector won't get affected by the recession or pandemic.
So you can try putting in efforts in core techniques like web development, app development, software development, project management, and cybersecurity.
These are some of the fields which will continue to flourish and are going to get benefited. The current crisis will bring down a lot of outdated practices and implementation of new models.
So if you are interested to start something of your own or you want to apply for any position then these businesses or sectors could be best for you in this era.
Resilience is important but companies need to develop skills to be able to respond to the unexpected. And to achieve this, businesses will have to re-evaluate their strategies like where they must be strong and where they must be flexible.
This time shall pass too. We will emerge from this period even stronger, wiser, and more interconnected as a global community.
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