The coronavirus has reshaped our entire life; it had a large impact on global businesses and finance, which would be felt for the years to come. It has obliged people to spend most of their time with their families, forcing them to work and clean for themselves. It has closed all the malls, shopping complexes, hotels, bars, casinos, and everything where people used to gather. The pandemic has undoubtedly disrupted the entire world.
The COVID-19 pandemic has led to an unusual situation, with incalculable health, social, and economic consequences. At the start of the outbreak, the financial markets collapsed, although not all sectors suffered equally. Let us look at the top 5 businesses that boomed despite the economic downfall during the Covid-19 pandemic.
1. Drugstore and Pharmacies
The Pharmacies played an essential role in the fight against novel coronavirus. Medical stores were open during the pandemic as they were a part of essential service so that patients who require medicines could purchase them on time. Also, the online pharmacy business provided an option for home delivery so that people wouldn’t have to go out of their houses.
2. Grocery stores
Another business that thrived during the pandemic is the grocery business. The restrictions and closing of all the pubs, restaurants, hotels, and local eateries led to people making food for themselves and their families. This led to the growth of large and local grocery stores as well as vegetable and fruit vendors. People could also buy groceries from the comfort of their homes through online grocers like JioMart and Grofers.
3. Gaming and Esports
Due to the Quarantine, millions of people locked up at home, bored, distressed, and torment took up gaming and Esports. It is one of the sectors that wasn’t affected by the pandemic and grew tremendously during the quarantine. It came to the rescue of people and helped them in staying engaged and positive during this time. People who were completely isolated from their family members felt less depressed while playing games online
4. Digital Media industry
As we all know, Covid-19 pandemic has been disastrous for films and entertainment shows as all the halls, theatres, stage shows, live concerts were prohibited during the pandemic. However, this led to a boost in digital media. As people spent most of their time indoors, they found a way to entertain themselves through online content. People started binding shows and bought the membership of online media platforms like Netflix and Amazon.
5. Educational Technology
As schools and colleges were shut down during the lockdown. Ed-tech has been the saviour for teachers, students, and parents as well. On-the-spot doubt clearance, and practice papers are offering a fulfilling learning experience for students. Teachers had to make use of online platforms like Zoom, Microsoft Teams, Google Meet, etc for teaching students. Teachers had to change their traditional teaching methods and adapt interactive and innovative teaching methods.