The ravaging COVID 19 pandemic has not impacted us all equally. There are certain industries, communities, and populations that have been hit harder than the rest forcing operations to pause or come to a halt entirely. Most of the businesses affected the most were those that rely on in-person interactions such as bars, theaters, educational services, and restaurants. For entrepreneurs who had a plan, they have had to evolve their businesses to fit into the new order.
All the same, some industries, including the online gaming industry like the betbigdollar.com, have experienced immense growth during these tough times because their business model happens to uphold the current COVID 19 protection measures. Given their current success rate, these businesses are bound to remain popular because they have also changed customer behaviors. Among them are:
eCommerce industries
The history of the inception of giant companies like Alibaba in the market tells you that eCommerce stays strong amidst adversity. With the current indefinite closure of some physical stores at the start of the pandemic, more people are shopping online more than ever. Data from Adobe reveals that there was a 63% increase in eCommerce sales in the United States in August 2020. This growth is evident in other countries where there are more stringent containment measures like Italy and its environs. The main driver for this shift is the need for entrepreneurs to conform to the new normal for them to stay in business. Customers have also experienced an evolution in their shopping habits and payment behaviors which might be long-lasting. Their preference for online shopping seems to imply the structural change of doing business as it contributes to the immense expansion of the digital economy.
Cannabis industries
The marijuana industry is home to a ton of other businesses such as cannabis real estate which is one of the franchises that has experienced significant growth since the pandemic struck. It seems that people who were initially intimidated by this business due to its legality issues are now starting to keep an open mind about it. With the legalization of cannabis in numerous states in the US, the legal system has eased up its laws enabling people to set up their businesses swiftly. Customers also continue to stock up on recreational loads and prescriptions to make it easy for them to survive the pandemic further contributing to the growth of the cannabis industry.
Telemedicine
This is a practice where physicians care for their patients remotely. With telemedicine, you can get a broad range of medical services such as pediatric, dermatological, mental health, and sexual health consultations. Modern technology tools such as video-conferencing through platforms such as Zoom, Skype, and GoogleMeet have enabled patients to consult their doctors on the various health issues that they have. This industry continues to thrive during the pandemic because patients opt to use it to avoid overcrowding in the hospital’s waiting bay where there is a high chance of contracting or transmitting COVID 19. Some of the companies that pioneer in the provision of telemedicine services such as iCliniq, Amwell, Teladoc, MeMD, and LiveHealth Online continue to report client (doctors and patients) uptake of their virtual services.
Virtual events
When physical gatherings were banned to practice social distancing, events such as workshops, conferences, training, weddings, and birthday parties moved virtually. The beauty of virtual events is that participant attendance has increased immensely given people do not have to incur costs of transportation and accommodation to show up on an occasion. Despite eliminating the thrill of face-to-face interactions, virtual engagements seem like they are going to be here to stay even after the pandemic. In fact, with the way the world has changed a hybrid model of virtual events is going to emerge when things resume back to normal where events would be partially virtual and face to face.
Conclusion
The pandemic has impacted industries and businesses differently such that some continue to prosper like the ones described above. One of the common things that are making these industries thrive is the advancement in technology which has made it convenient for people to transact with ease. In the future when the pandemic is over, some of the trends that you observe today will remain because they have become part of our lives now!
