Industries Benefiting from Coronavirus
Industries that are gaining from the Coronavirus pandemic include the digital media industry, the eCommerce industry, and the delivery services industry. Postmates, Grubhub, DoorDash, FreshDrirect, and Instacart are some companies in the delivery service industry.
Digital Media Industry
- Due to the Coronavirus pandemic, digital media consumption has increased in the United States as people are spending more time at home. In-person communications have declined. Digital media consumption has increased across social media, in on-line gaming, and video streaming services.
- According to eMarketer, adults aged 18 years and above in the United States spend 54.56 minutes per day on social networks in 2020.
- People are seeking out news content and more entertainment content online, which will boost streaming video services. Platforms that offer video on demand services like Roku Channel and Pluto TV which are ad-supported are expected to experience increased usage and streaming hours.
- Marketers are shifting their focus to using virtual events. V-Ex, a virtual exhibition platform has reported that over 50,000 people have accessed its online digital trade shows recently. Organizations like Facebook, Adobe, YouTube, and Google are planning to host virtual conferences.
- Some companies in the digital media industry offering streaming services include Netflix, Hulu, and Amazon Prime Video. Facebook and TikTok are platforms in the digital media industry that will also grow and could witness add some subscriber additions.
- The eCommerce industry is expected to grow as people are avoiding shopping in physical stores. In the United States, 28% of internet users are already avoiding travel and crowded places. Around 58% are planning to avoid gatherings if the Coronavirus continues to spread, according to Coresight Research data.
- Around 74.6% of internet users in the United States are likely to avoid malls and shopping centers if the Coronavirus in the country worsens, and over 50% will avoid shops altogether.
- A majority of the people in the United States will resort to online shopping, and the sales in the industry will grow as consumers will continue shopping online after the outbreak subsides.
- Some companies in the eCommerce industry include Walmart, Amazon, Macy's, Best Buys, Target, and eBay.
Delivery Services industry
- As the Coronavirus continues to spread globally, people are forced to spend most of their time at home, avoiding public places. People are looking for digital services which include home delivery services for food and on-demand goods, according to Marketwatch. This has increased business for delivery organizations.
- Delivery companies are expected to offer "contactless" delivery options and demonstrate good health to minimize the spread of Coronavirus. Instacart and Postmates have already begun to implement contactless delivery option.
- Amazon is hiring 100,000 new staff in the United States to facilitate the delivery of goods from their online store as more people are opting to shop online.
- Some companies in the delivery services industry include Postmates, Grubhub, DoorDash, FreshDrirect, Instacart.
Your research team scoured through credible databases and websites like eMarketer and CNBC to find information on the industries that are growing/benefiting or expecting to grow from the corona virus pandemic. We were able to establish that among others, the delivery services industry, the digital media services, and the eCormmerce industry are likely to benefit from the Coronavirus crisis as presented above.