The coronavirus has been around for several months, and people’s behaviours and habits are rapidly changing as a result. These changes can affect consumers’ preferences and buying behaviours, either due to the scarcity of financial resources, or an increase in the demand for particular items in this period. The changes in in organisations and industries are in three categories, namely: The winners, the losers and the inbetweeners. The winners are the sectors that will benefit while the losers are the sectors that will suffer. Inbetweeners, on the other hand, are the sectors that can either win or lose depending on how they deal with the situation.
The Winners
The winners are the industries that are lucky to be dealing with the products that are in high demand in this period. These should take advantage of the situation and find ways to thrive as they are making higher profits than they did before. Some of these companies include:
Ecommerce Stores
The fear of crowded places due to the risk of coronavirus infections led to more people shifting from shopping from their local land-based stores to online shopping. Online shopping is safer as you reduce the chances of coming into contact with surfaces that other people have touched, such as the shopping baskets and trolleys in the stores. The orders for most of the online stores, especially grocery stores, have surged to levels that are even overwhelming their systems.
Stores like amazon are hiring new staff while others have turned into the use of new technologies like unmanned vehicles and robots to maintain their delivery efficiency.
Pharmaceuticals
Pharmaceutical companies are playing a significant role in fighting the virus by providing the medication needed to treat the symptoms of the virus as well as finding a virus. Some pharmaceutical companies are also benefitting from the sale of reagents and testing kits, which are on high demand. Countries are increasing their testing capacities as a way of fighting the virus.
Logistics
The lockdowns in some countries have created a boom for the door to door delivery business since people cannot leave their homes. People are shopping for groceries and medication online, and the stores are hiring local logistics companies to do the deliveries. Hotels are also trying to stay afloat by providing door-to-door food deliveries through partnerships with logistics companies.
Online Betting
Online betting was on the loser’s side up to the time when most of the games started resuming. People now have a variety of games to place their bets on as they enjoy the matches at home. The return of major football leagues like the premier league is a huge relief for most bettors in the UK, given that it is the most popular sporting activity in the country. Most bettors place their bets when following the games, and now maybe the best time as they have enough time at home.
You can go to the punters page to find the best betting sites in the UK listed and compared with each other. It is always recommended to research which bookmaker fits your needs best. Most of them offer different odds, bonuses and also the leagues and matches they offer are not the same. Sites like Thepunterspage are a great help by sparing you the effort doing said research yourself.
The Losers
Airlines
International travel is the most hit sector as a result of the coronavirus. The rapid spread of the virus forced countries to close their borders and cancelled international flights to avoid the importation of the virus. According to IATA, the global airline industry now needs up to US$200 billion to survive the effects of the coronavirus pandemic. Most of the airlines have sent their staff on unpaid leaves, while others have opted to do massive layoffs. Some of the airlines may also not get back into business if they don’t get the needed financial assistance.
Tourism
Both local and international tourisms are in a halt as a result of the coronavirus related travel restrictions. According to Statista, the global travel and tourism market is predicted to experience a loss of 100.8 million jobs as a result of coronavirus. The Asia Pacific region is the biggest loser with 63.4 million job losses followed by Europe with a forecasted employment drop of 13 million.
Traditional Retail
With most people preferring to stay at home and do their shopping online, traditional retail stores are experiencing a drop in their daily footfall numbers. Some traditional stores, especially those dealing with non-essential items, are closing while others have adopted e-commerce to stay in business.