Which industries were the most successful through the pandemic?

The year 2020 was an unprecedented year to all business across the board. The COVID-19 pandemic brought with it challenges that continue to ripple through many industries as national and international restrictions were being put in place across the globe. However, even in this most challenges of times there were some industries that managed to perform well and provide a hope for the economy. Let’s look at some of these industries and how they managed to thrive in spite of repeated lockdowns.

1. e-Commerce 

The pandemic completely transformed the retail world. Lockdowns meant that the retail shops could not stay open, and restrictions introduced social distancing and anxieties due to the pandemic reduced the number of shoppers walking through doors. As physical stores continued to suffer, an increase in e-commerce shoppers was realised as more people moved to online shopping. The introduction of online gambling services has also seen the increase of online betting as traditional casinos have remained closed or restricted due to social distancing measures.

2. Pharmaceuticals

Moderna, Pfizer, AstraZeneca – names many of us had never heard of prior to the pandemic but are now as recognisable to many of us as Nike and Netflix due to their central role at fighting COVID-19. These companies have shown us the importance of infectious disease prevention and their market share is predicted to continue to increase in the foreseeable future. 

3. Game companies

To help people stay busy during restrictions, companies have had to bring entertainment home. Demand has been high from puzzles and video games to mobile gaming. An increase in mobile sports betting and casinos has also been realised as betting shops and casinos were closed. You can find some here, which show some examples of platforms that have proven successful throughout the lockdowns.

4. IT and digital services

The challenge many businesses faced was for their staff to continue being productive as well as staying safe and adhering to government restrictions. Virtual communication enabled this to happen. Employees who could continue work remotely could do so with the use of technology for social interaction through virtual reality. It appears that this realisation of our ability to continue being productive remotely is likely to permanently change the way we work as we gradually move back to “normality.” Therefore, the demand for high-speed digital and IT services will continue rising.

What we have seen with many companies that have survived during this challenging time, is their ability to adapt to change.