Since it was first detected at the end of 2019 in the Chinese metropolis of Wuhan, the novel coronavirus has long left its mark on all continents. A circumstance that causes headaches for small and medium-sized companies as well as multinational corporations. The entire market environment in many industries has changed rapidly in the Corona crisis. This applies in particular to day-to-day business and is also clearly noticeable in the event of a company’s planned sale – especially when deciding whether the sale should take place now or at a later point in time.
In contrast to the Corona crisis, the financial crisis, including the Lehmann bankruptcy in 2008, was self-made due to a too lax use of the financing instruments. In the end, the credit bubble burst and sparked a global economic crisis. At that time, however, the economy quickly picked up again in the following years, which should give hope to the various industries in the current Corona crisis – especially since there are already some positive signals to be reported.
But while on the one hand, the entire industry is being brought to its knees, on the other hand, some industries are benefiting significantly from the crisis. This includes, in particular, the systemically essential professions that work tirelessly in the current situation and continue to provide the country with everything necessary for life. We’ll show you which industries will benefit most from the crisis.
Supermarkets and drugstores are still open because they supply us with groceries and hygiene items. But although operations in this industry continue unchanged, the Covid-19 pandemic has created uncertainty for many people. The result: hamster purchases. Although politicians repeatedly emphasize that the supply is secure, in many places, one is constantly faced with shelves that have been bought empty. This has caused sales in these industries to skyrocket. Sales are currently even higher than those of the Christmas business.
While much of the business is closed, online sales continue. Although consumers can feel unsettled here, the Internet is currently the only source of supply for many products. Food and meal delivery services also benefit from the current crisis and are seeing a significant increase in demand.
The increased online trade also has an impact on logistics companies and especially on parcel services. The high volume of parcels also ensures growing sales for them. But the increased demand for food and hygiene products is also causing business for logistics companies to grow.
The Covid-19 pandemic has led to an increased demand for medicines and hygiene products. In particular, disinfectants, respiratory masks and protective clothing are in demand like never before, so manufacturers can hardly keep up with production. As a result, even companies in other industries have switched production to meet demand and prevent the price of their essential products from rising. The same applies to medical technology companies. The global increase in intensive care beds is also causing a real boom here. In particular, the production of ventilators was ramped up massively.
The contact block has posed significant challenges for many companies. Most of the employees were sent to the home office in a short time. But to keep the business going, many companies had to acquire new software solutions. Office communication software providers are the clear winners here. You have seen enormous growth in user numbers in the past few weeks.
At the same time, there is a boom in the iGaming industry because numerous casino operators offer lucrative promotions to the newbie and existing players. Free-Spins.net is one such online casino that offers enticing deals in the form of free spins and jackpot offers on popular slots and other games.
Since many office jobs are switching to the home office, video and chat programs are more indispensable than ever for many. Microsoft speaks of 37 percent more users of the office communication software teams within a week. “We see an upward trend in use,” said the CFO of the video conferencing software Zoom. But a lot of that would go through the free version. “That is why it is far too early to say whether we will get more paying customers in the long term.”
The crisis shows that job seekers are ready to change industries. Studies by the IAB show that they have increasingly been satisfied with worse jobs under the pressure of the crisis. “This is something critical because our job market should ensure that people get ahead and not that they lag,” said IAB researcher Weber.
There is another development to watch: The pandemic ensures that the economy and the labour market change even faster and that digitization advances even faster. “This poses clear challenges, especially for qualification policy,” emphasizes Weber. “The further development of qualifications is the decisive means to meet such a transformation process.” Otherwise, people will be left behind in the labour market – in the worst case permanently.