Text by Zahaan Sabuwala
The recent pandemic which started in late 2019 has spread at an exceptional rate. Even though it has shut down numerous small businesses and has affected the global economy, it has benefited some industries. These industries are mainly from the Healthcare sector, Internet service providers, Internet calling/ meeting facilities, bakery goods and household appliances. These industries are currently excelling by coming to our help especially during this vulnerable time.
Firstly, the pandemic has majorly benefited the healthcare industry as when people are exposed to the virus, they require immediate medical aid in order to combat the virus. In fact, according to the Economic Times, Policybazaar.com has shared that in terms of the sales of health insurance policies, they witnessed a growth of 20 to 30 per cent in a span of 25 days in March 2020 (from March 6th to March 31st to be precise) as compared to February 2020. As a precautionary measure, the purchase of vitamin supplements has also increased by consumers who want to boost their immunity and prevent acquiring the infection. This has also proved beneficial to the healthcare industry.
2. Internet Service Providers
Furthermore, the internet and network industry is excelling too. Owing to the lockdown, the demand for a reliable and stable internet connection has gone up. This is mainly because schooling has shifted to digital/e-learning and the corporate has shifted to Work From Home until the situation settles down. As people are consuming more internet bandwidth, they are spending more money on the firms/companies that are a part of the industry. As a matter of fact, between January 2020 and late March 2020, internet traffic increased by around a quarter in multiple major cities, according to Cloudflare, a US company that provides the network infrastructure to businesses around the world.
3. Online Meeting Platforms
In connection with the network and internet industry, online platforms have also been excelling at a speedy rate. With the aid of the internet, people are able to communicate and work through these online platforms, such as Skype, Google Meet and Zoom. Video and audio calls have replaced face-to-face interaction with colleagues, family, and friends too. In fact, Skype’s video and audio calling service now has 40 million users, and calling minutes are up 220 per cent.
4. Bakery Industry
Moreover, at least in India, the biscuit industry, and other bakery products available in the industry, has taken off due to many food items’ production being halted due to lack of labour. Parle-G’s sales, for example, has gained a market share of around five per cent in the highly competitive biscuit segment. Biscuits are being consumed in a majority of households due to the unavailability of fast foods and street foods. In addition, biscuits are satisfying, ready-made, and are affordable. Frontline workers, too, are relying on ready-made and affordable goods such as biscuits, in order to survive during this difficult time.
5. Household appliances
Finally, the major appliances industry has also benefited from the pandemic as due to the unavailability of labour and domestic staff, consumers have resorted to purchasing major appliances such as dishwashers, washing machines, and clothes dryers to be able to aid them in their daily household chores, shares Businesswire.com. These appliances are proving to be a boon in decreasing the household work and stress consumers bare on a daily basis.
These industries are excelling around the world; however, the article mainly focuses on the industries excelling in India. These five sectors are benefiting from the pandemic due to the increase in the number of sales and consumption of the goods and services that are helping people continue with their professional commitments while staying healthy and safe at home.
About our Writing Program Student:
Zahaan Sabuwala (15) is a Xth Grader studying at Oberoi International School in Mumbai. He’s fond of playing the guitar and is a national-level lawn tennis player. During his spare time, he loves spending time with pets!
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