4 Industries that Benefit from the Pandemic
The global pandemic has seen business closures on a massive scale. Industries such as hospitality, construction, and high street retail are among the worst impacted sectors. However, recovery is upon us, and various industries benefit from the pandemic as we emerge from one of the worst virus incidents in living memory.
Supply Chains and Logistics
Throughout the pandemic, more and more people have become dependent on delivery services such as. Online retailers like Amazon have made record profits as people took to ordering goods over the internet. The global supply chain of national and international interests is a significant part of the system that brings items from a manufacturer to fulfillment and eventually to your door.
All industries involved are seeing record profits. Far from the current HGV crisis in the UK, the American trucking industry is performing well. As of January 2021, container imports were up 13% over last year. Companies like Knight Transportation are currently holding recruitment drives to meet growing consumer demand in response to phenomenal growth.
Ghost Kitchens
Of course, even though there is a pandemic, people need to eat. So Covid-19 forced hotels, café, restaurants, and bars to close during the worst lockdown restrictions. In the UK alone, 30 of the nation’s famous pubs permanently closed each day at the height of the pandemic. Yet foodservice companies began to thrive once more as they adapted to a changing and uncertain situation.
Thus began the industry of the Ghost Kitchen. Using platforms like Just Eat, local and corporate restaurants alike have started delivering food to hungry customers with food from kitchen-only establishments. One of the major players is Wendys, who has plans for 700 ghost kitchens in the US, Canada, and the UK. As a result, the industry value has grown significantly to around $43 billion. Moreover, it is expected to almost double over the next five years.
Holiday Retail
Most retailers look forward to the Christmas period as consumer spending over this period is enough to sustain a retail establishment for the year. Without it, some retailers cannot stay open. The average American spends almost $1,000 on holiday period gifting. This year is no different, despite the current boom in online retail and spending.
And the fun could start sooner than expected for many retailers. Year on year, consumers look to begin their holiday shopping earlier and earlier. It is believed that many begin early to take advantage of sales and events such as Black Friday. As it stands, 49% of holiday shoppers start their holiday spending spree before November.
Home Entertainment
Millions of people had to stay at home because of workplace restrictions or no work to go to throughout the pandemic. As a result, most people enjoy a wide variety of entertainment at home. Video games, virtual reality, and streaming platforms are top among the myriad of home entertainment options with increased sales because of Cold-19.
Netflix subscriptions have increased substantially in some of the worst affected areas, such as South Korea, Italy, and Hong Kong. Additionally, the social media platform TikTok has emerged victorious with over 2 billion new installs from the past year. Over the past 12 months, TikTok has outperformed social media giants like Facebook, Twitter, and Instagram.
