These industries thrived during the pandemic

It’s clear how much of an impact the coronavirus pandemic has had on every aspect of our lives. As this new world begins to open its doors again, and the gears start moving on the economy in several countries and regions, some industries are thriving. A number of these industries have seen success by resorting to price gouging tactics, others by leaning into consumer needs during the crisis. Rather than defining “industries” in sweeping terms, like the World Economic Forum refers to its industry affiliations, let’s highlight the sectors in these industries that have been weathering the storm. Click through this gallery to see who is coming out on top.




Microsoft and partners may be compensated if you purchase something through recommended links in this article.


Microsoft and partners may be compensated if you purchase something through recommended links in this article.

Cleaning products and supplies

In line with the CDC’s guidelines for cleaning and disinfecting the home, sanitizing, wiping and bleaching has become a daily ritual. Companies like Clorox and Reckitt Benckiser rose to the challenge and were rewarded with record sales for some of their flagship products like Lysol and Dettol.




Microsoft and partners may be compensated if you purchase something through recommended links in this article.

Health and fitness products

The infamous Peloton ad had made its rounds at the top of 2020; however, when the pandemic hit, closing gyms and fitness centres across the globe, people relied on in-home fitness products to keep fit. Fitness is always a priority for people around the beginning of the year, but the need to relieve stress and keep active during COVID-19 saw more people creating home gyms.

Athleisure is also having a moment as working from home during the pandemic has prompted people to swap dress pants for yoga pants.




Microsoft and partners may be compensated if you purchase something through recommended links in this article.

Wellness

Fitness equipment isn’t the only thing people are relying on to keep their minds and bodies healthy. Amid the global health crisis and social unrest, many people, especially women, have turned to self-care rituals to cope during these difficult times. Influencers in the wellness space began providing virtual gratitude, meditation and self-care sessions to help their followers stay grounded.

Feelings of isolation and burnout have also caused people to rely more heavily on wellness and preventative measures like setting up buddy check-ins with colleagues and loved ones, building resilience, and other tactics to alleviate stress.




Microsoft and partners may be compensated if you purchase something through recommended links in this article.

Food and drink

Panic buying took off at the beginning of the pandemic as grocers were deemed essential services in many places. Now, grocers like Publix and Kroger are trying to keep the momentum.

Food producers are also benefiting from the time people have been spending in their kitchens. While waves of yeast, rice and flour shortages still continue, Beyond Meat, a plant-based producer of items like veggie burgers, is seeing the benefits of offering its products at Walmart and Whole Foods.




Microsoft and partners may be compensated if you purchase something through recommended links in this article.

Personal safety products

It’s no surprise that an industry that manufactures personal safety equipment and products would thrive during a global health crisis. Companies that produce supplies like gowns and the N95 respirator masks used by healthcare professionals, like 3M, rose to this demand.

Some tattoo shops that had to close due to COVID-19, like Chronic Ink Tattoos, pivoted to the production of personal safety materials like gloves and masks profiting frontline workers to help respond to this enormous demand on the consumer side.




Microsoft and partners may be compensated if you purchase something through recommended links in this article.

Home and garden

A trip to the store and retail therapy has been replaced with a whole lot of online shopping. Companies like Wayfair and Overstock are go-to e-commerce sites for those looking to refresh their living space, while office furniture sellers like Staples have helped people adjust to their new remote working situations.

Seed companies are rushing to keep up with the demand of green-thumbed consumers who have been eager to plant vegetable gardens and stay connected with nature for their mental health.




Microsoft and partners may be compensated if you purchase something through recommended links in this article.

Video communications

For work or pleasure, COVID-19 completely transformed the way we communicate with one another. Video chat platforms took the cake for their ability to effectively connect teams, families and communities. Phone calls, messaging threads, email communications and in-person events were replaced with video chat meetings via popular choices like Zoom, Google Meet and Microsoft Teams. This reliance on video chat has led to deeper, more meaningful connections.




Microsoft and partners may be compensated if you purchase something through recommended links in this article.

E-commerce sites

The pandemic saw many people get creative when celebrating Mother’s Day, birthdays, Ramadan, Easter and prom. With the hit to the economy, there was an instant shift toward supporting local businesses that were struggling. Consumers contributed to a surge in gift sales, purchased from local artisans and creators on Etsy or small businesses who set up digital storefronts on platforms like Shopify.




Microsoft and partners may be compensated if you purchase something through recommended links in this article.

Online education

E-learning platforms and educational apps have been the go-to for wary working parents on double-duty with homeschooling. Platforms like Khan Academy, Scholastic and Coursera joined the EdTech surge, followed closely by tutoring companies that were able to quickly pivot online.

Professionals looking to sharpen their skills or add new ones to their professional toolkit have been streaming lectures from leading universities and colleges. Furloughed or laid off workers are using these platforms to develop the skills necessary to generate income from one or more creative side hustles.




Microsoft and partners may be compensated if you purchase something through recommended links in this article.

Food and drink delivery

With restaurants and bars still closed in many places, people have been relying on food delivery platforms like SkipTheDishes and Uber Eats. These platforms not only saw an increase in use and sales, they provided a source of income for drivers.

With liquor sales up due to more virtual Happy Hours and “quarantini” gatherings, Drizly, North America’s largest e-commerce alcohol marketplace, took off.




Microsoft and partners may be compensated if you purchase something through recommended links in this article.

Technology and IT services

Online tools, platforms and services are in full bloom. The companies that run, manage and troubleshoot these systems, from IT to telecommunications, ramped up their hiring to respond both to consumer and corporate demand leading this fast-tracked digital transformation. IT and tech companies continue to thrive as they help keep remote teams working, online education platforms functioning, and e-commerce sites responding to their customers’ every need.




Microsoft and partners may be compensated if you purchase something through recommended links in this article.

Pet care

Fido the Dog and Mitzy the Cat have been getting a lot more face time with their owners than usual as a result of shelter-in-place orders. The pandemic has also led to an increase in pet adoptions and fostering, and a subsequent surge in orders for pet food, supplies and pet-health-related items.




Microsoft and partners may be compensated if you purchase something through recommended links in this article.

Stationery

There’s no turning back from the digital revolution that has picked up speed as of late. Or so some thought. “Everyone is experiencing digital fatigue—which is real—so we are turning to tangible things,” says Andrea Bell, who tracks consumer trends for a living. Bell says that recently, more people have switched back to paper products like stationery. She points to the 300% increase in online sales for stationery brands like Papier, and 180% increase in searches for “what to write in a ‘thinking of you’ card?”




Microsoft and partners may be compensated if you purchase something through recommended links in this article.

Streaming services

With the world in quarantine, and social unrest at its peak, users have been glued to their screens discovering more content, whether as a distraction or to educate themselves on important matters like Black history. With theatrical releases and filming still halted due to coronavirus, streaming services like Amazon Prime, Netflix, Hulu and Disney+, to name a few, are coming out on top with the addition of new users and an increase in time spent on their platforms.




Microsoft and partners may be compensated if you purchase something through recommended links in this article.

Telehealth

With hospitals and healthcare facilities continuing to dedicate their time and resources to managing the outbreak, the digital healthcare space has picked up speed and shows no signs of slowing down anytime soon. Access to telehealth is allowing the aging population in places like Canada and the U.S. to keep up with their care and check-ins, even during a pandemic. This also extends to patients with mental health needs, which is especially necessary during these uncertain times.




Microsoft and partners may be compensated if you purchase something through recommended links in this article.

Health care

Health care became the industry of heroes, and a leader in times like these. Hospital workers in every role were applauded for risking their lives each day to combat the virus. The demand for respiratory specialists, physicians, and paramedics has gone through the roof. The pandemic also reshaped the industry and many people are wondering what it will look like in a post-COVID world, especially in the U.S.




Microsoft and partners may be compensated if you purchase something through recommended links in this article.

Banking and insurance

While the volatility of financial markets persists and rolling layoffs dominate the news cycle, financial experts in the banking sector are in high demand as people seek advice and guidance in navigating this economic crisis.

However, some companies in the insurance sector took wins in less reputable and consumer-friendly ways. One restaurateur had to sue his insurance company for their breach of policy and reluctance to cover pandemic-related losses.




Microsoft and partners may be compensated if you purchase something through recommended links in this article.

News and publishing

People have been relying on a steady stream of COVID-19 updates and news, and this isn’t merely a fleeting trend. A heavier reliance on the rapid-fire news cycle is here to stay, and most people have been choosing to receive their news updates via their phones and digital devices over other media. Advertisers, who help keep news media and publishers afloat, have been following consumers by reallocating their dollars from out-of-home media like print and cinema to in-home media like mobile and digital platforms.




Microsoft and partners may be compensated if you purchase something through recommended links in this article.

Influencer marketing

The boom of a “creator economy” isn’t a new concept, but it is one that found its stride with social-distancing measures in full effect. As one YouTuber put it, as a content creator, if you build it right, “Your audience is your capital.” And companies are keen to use influencer marketing to connect with their consumers.

Many creators continue to produce content to keep people distracted and busy, but there are others using their platforms for social advocacy. TikTok influencers of colour are creating content—and even raising funds—to contribute to the momentum of the Black Lives Matter movement in impactful ways.




Microsoft and partners may be compensated if you purchase something through recommended links in this article.


21/21 SLIDES