The coronavirus has caused the world to stand still; with strict compliance to safety protocols of staying away from crowds, no necessary trip outdoors, and avoiding close physical contact to name some, many of our everyday activities have come to a stop. With no customers, many industries have collapsed and caused mass unemployment. This can be categorized then as an economic crisis and the shock of this can not be easily mitigated.
While on the other hand many companies have flourished too because of the circumstances of staying at home. Insider Monkey has published a detailed article on these companies that benefited the most during the pandemic.
The companies that have benefited the most are the ones supporting the people during the pandemic in terms of work & leisure. The adjustment of staying at home indefinitely has made people antsy and companies have found a way to help in the transition.
The tech sector has also been doing double the work during supply chain analysis, manufacturing, B2C marketing, and the digitalization of almost everything to avoid physical contact.
There are 15 companies that have benefitted the most during the pandemic according to Insider Moneky, they will be categorized into their sectors:
Technology Sector
Various tech companies that helped in remote schooling, work from home, and overall work productively.
The most noticeable could be the application Zoom. In the beginning no one was using video conference platforms because there seems to be no need for it. Before the most common one was Skype but during March 2020 Zoo now became the buzzword so to say. Schools, businesses, various enterprises now have scrambled to get licensing to get the premium features that will help in distance learning and important work meetings.
Other companies such as Microsoft, Nvidia, and Apple boomed in creating productivity applications, rolling out laptops, tablets, and phones with good graphics quality and performance for work heavy sectors. A Chinese company Alphabet Inc has significantly helped people connect online, increase productivity, and even created a contract tracing application. T-Mobile has also had an increase of sales for easier communication and productivity.
E-Commerce
Lockdown has forced many shops and malls to be closed as it has been deemed non-essential. Businesses have found a way to promote their store and sell their products without having to have a physical website.
By creating accounts on e-commerce websites and online shopping have flourished. The notable companies are: the Canadian-based company Shopify Inc., the Chinese company Meituan, a newcomer in the sector Pinduoduo Inc, and the most famous among all of them will be Amazon.
Cashless payments have been prefered to avoid physical contact and Paypal Holdings Inc. have been in partnership with these e-commerce websites. The benefit of having a Paypal account and using it to make payments is becauses it is direct, avoids physical contact, and very easy to connect to one’s personal bank account and credit cards.
Entertainment
Staying at home means finding something to entertain ourselves. Virtual movie nights, having a watch party with friends is what keeps friendships alive during this crisis.
Many have been using Netflix to stream series and movies, and the addition to a watch party feature has made Netflix the go to website. Facebook has been known to stream online concerts, webinars, and fundraising activities virtually, and the Chinese media company Tencent has been pouring out various animated material and series to help entertain people through the world.
Automotive
One thing that seems to be weirdly in the list would be Tesla. During the pandemic there was a boost in the sales of their electronic vehicles. As new competition emerges (Ford’s electric Mustang Mach-E) Tesla has to step up so as to not lose their traction.
You can read the more detailed analysis of each company, their revenue, and other important statistics on Insider Monkey’s article 15 Companies That Benefitted The Most From The Pandemic.
