- 10 industries that are booming due to coronavirus.
Now, there's no doubt coronavirus
is affecting many, many, many businesses around the world,
and most businesses are suffering,
but there are a number of industries that are booming
due to the coronavirus.
Now, why do you want to be aware of these industries?
Perhaps this video will give you some perspectives
and some insights on how you need
to modify your business model, how you want to pivot,
or maybe you want to start a business after this is over
or you wanna start a business during the crisis
because you see an opportunity.
You could do that as well.
So here are the 10 industries that are still booming
due to the coronavirus.
Industry number one, e-learning.
So many people are stuck at home
and a lot of people now, they're starting to think about,
okay, the jobs that that I used to have,
they're no longer there.
What do I need to do?
What new skills, what new knowledge do I need to acquire
in order to equip myself in order to find a job
because most of those jobs may not be available anymore.
Business owners, entrepreneurs, we are also thinking about,
okay, what new insights do I need?
What help do I need to modify or pivot my business model?
I need to do something so people are seeking
learning opportunities, especially learning opportunities
from home that they don't have to go somewhere,
they don't have to go to an event necessarily.
That they could learn just from their computers.
So e-learning is huge, and a lot of students
are learning from home.
A lot of them are learning just virtually.
This will create a new behavior.
After this a lot of students, a lot of people will question,
do I actually need to go to school?
Will going to school, getting that degree,
will that even prepare me for the future?
And now the world has changed so dramatically
in a short period of time.
Industry number two, medical products.
Anything that is related to curing
or preventing the coronavirus.
We're talking about hand sanitizer, mask, right,
anything at all that could help people to do that.
Now of course there's still a huge shortage
of this in the world, but thinking about this
in the future, when this is over, when there's a vaccine,
when there's a cure and everything's back to normal
this will not be the last time we see a virus like this.
I hope it is, but we also have to be a realist.
So understanding that this might come back
and there might be other virus in the future.
So being in the medical supplies business
not only it is a great business to be in
not just to make a profit, but it's a business
that could save a lot of people's lives.
Industry number three, delivery services
as now we are stuck at home and the government
advise us to stay at home that we are ordering takeouts,
we're ordering delivery, we're buying more things online.
Delivery services are huge.
Even logistic companies in the right sector
could be booming as well.
Industry number four, in-home entertainment industry.
Of course we're talking about Netflix.
Of course we're talking about Disney streaming.
Of course we're talking about YouTube.
Now although on YouTube you can see a lot of creators,
content creators, their AdSense revenue is down
simply because there are fewer advertisers
advertising on the platform.
However, more people are tuning in,
more people are watching their content.
They are now building a base.
So it depends on the audience that you are serving,
but in-home entertainment is booming as well.
Now it is a good time especially if you are an entertainer,
you are a creator, now entertain.
People need entertainment, they need that escape.
Keep creating content, build that customer base.
Don't slow down, grab a phone, grab a camera.
Now is the time to connect and serve your audience.
Now is the time to really expand the reach.
Industry number five, online gaming.
People are bored out of their minds.
They want some kind of entertainment.
Again, they want some kind of escape.
It could be online gaming like casinos,
people now cannot go to the physical casinos
but they still like to gamble
or online gaming in terms of just playing games online.
That is huge as well, and it will get bigger and bigger
especially later on when VR is more popular.
This industry will be booming for many, many years.
Industry number six, online dating industry
as now people are more isolated
people are more lonely than ever.
We crave that human connection, right.
More people will be single.
Now if more people are working from home
there are fewer opportunities to even go
to a coffee shop and meet somebody.
Online dating will be huge, it's already huge
so it doesn't even have to be a dating website
but anything that serves that particular industry
will be booming as well.
Industry number seven, software, especially software
that helps people to connect or work remotely.
Skype, you have Slack, you have Zoom.
Anything that helps other people to connect
and communicate better, that kind of software
will always be booming.
Any software that helps people to start online business.
Those business would also be booming as well
so don't overlook, think about how you can serve
that particular market because people's buying behaviors
are changing, they are developing new habits.
Things won't be the same after the coronavirus is over.
Industry number eight, supplement industry.
The supplement industry's always big,
but now with the coronavirus
people are more health-conscious.
People are living more fearful.
They want to make sure
that they have a strong immune system.
They want to take care of their body,
wanna take care of their own health.
So people are taking more vitamins.
People are taking more supplements, right,
to make sure that they are strong
that they could protect themselves.
And now not just they are buying supplements for themselves
but also buying supplements for their family.
So the supplement industry is also booming as well.
Industry number nine, supermarkets.
Now, this is very, very obvious
as people are stocking, right, overbuying a lot of food.
Groceries, supermarket is absolutely booming.
They're getting more sales.
In fact, they are running out of stocks.
People are buying more than what is needed
because out of fear, so supermarket also booming industry.
Industry number 10, now this may not be
a very glamorous industry but that is the cleaning industry.
Offices, hospitals, homes.
Now people are, again, living more fear-driven.
They want to have a cleaner place.
They want a sanitized place so they make sure
that they want to hire a higher quality group
of professionals to help them clean their places.
So cleaning industry is also booming.
So these are the industries that are booming
due to the coronavirus.
What we have to understand is this.
Either you want to be in these industries or you want
to think about how you can serve these industries.
Or you wanna think about how you could change
your business model because one thing that we do know
is that things are never going to be the same.
People will buy differently, people will shop differently,
people will spend their money differently.
Their priorities will change.
As an entrepreneur it is your job to see
what are some of the problems in the marketplace
that you can solve and only you could solve.
Don't get too hung up on your existing business model.
We all have to pivot and protect and preserve what we have.