COVID-19 continues to shift business sectors, and it’s evident that companies across various industries had to make significant adjustments. There were industries in demand pre-pandemic that weren’t as fruitful, encouraging businesses to either change their overall business strategy or halt their operations. Several sectors have been more inclined to adapt to newer technology. This doesn’t go for today’s thriving business sectors; digital transformation and technological integration have long been underway.
Here are just some of the current businesses that have thrived during such uncertain times:
Gaming and eSports
The gaming industry has always been one of the most prominent, and it’s only grown bigger worldwide due to the pandemic. You’ll see this by how more and more pro players begin to compete in significant games like Valorant all over the world. The gaming industry doesn’t just consist of pro players, but this includes gaming organizations, streamers, and businesses that sell different gaming-related merchandise.
With most people staying within their homes along with the trend of building your own gaming setup, it’s not surprising that the gaming industry continues to be in demand. In fact, in just less than a year during 2020, sales of video games surpassed $29.4 billion in the United States.
Research suggests that the gaming industry is one of the industries that will maintain its success even after the pandemic is over. It’s evident that the gaming industry left a significant mark on gaming enthusiasts even as we transition into the new normal.
According to a 2021 report in Upwork, freelance workers have contributed at least $1.3 trillion to the economy. With this being said, the demand for outsourcing work has been on the rise since the pandemic. While freelancing has always existed, it’s often an industry looked over throughout the years. However, with the economy crashing and markets fluctuating, the freelance industry is something millions of individuals have taken advantage of.
In fact, people are gradually switching from a 9 to 5 job to a freelance one to have more control over their time during this new normal. For instance, a company could choose to hire freelance graphic designers to cut back their costs and get the output they need. Freelance accountants and financial services are also on the rise for many small businesses.
Writers have also gained more traction in the freelance space during the pandemic. Whether it’s copywriters specializing in advertising copy or even creative writers who come up with clean comedy for entertainment, the current freelance landscape is buzzing with new talent.
In August 2020, revenue from the e-commerce industry has made approximately $63 billion in the United States. This statistic was 40% more than the previous year. As businesses and customers adapt to the new normal, online shopping is now more popular than ever. Since customers can’t just conveniently go to physical stores to buy products, this is where e-commerce comes into play.
With online shopping, you can continue growing your favorite items and check them out with a press of a button. This is also why businesses are investing in e-commerce websites after realizing just how in-demand this industry has been since COVID-19. With e-commerce, companies are able to maintain their current product or service offerings without making big changes to the manufacturing lineup.
E-commerce platforms and other online shopping apps have bridged the pandemic gap between businesses and consumers. It’s the best alternative to shopping with physical stores, and with e-commerce, you can take your time before checking out a particular item.
Like other industries in this list, there has been a rampant rise in home improvement businesses since the pandemic began. As homeowners are spending more time at home, they’re revamping their space in a way that feels comfortable and relaxing for them. Especially with the several home improvement trends today like office spaces and gaming rooms, home improvement businesses are more in demand than ever.
We can see this with homeowners continuing to engage in landscaping and renovation services despite the new normal state. The importance of beautiful and functional home spaces has never been more in demand.
Other examples like the medical field and the cleaning industry have seen a sizable jump in demand because of the pandemic. This, however, was to be expected during the pandemic for apparent reasons. A combination of technological integration and convenience has proved to propel the other examples above to thrive despite the pandemic’s adverse effects. While many of these businesses were around prior to the pandemic, their modern and effective strategies aided them in navigating the pandemic’s rocky business landscape.