The Covid-19 pandemic has changed so much, not least consumer behaviour.
The relationship between industry and customer has been changed forever, with some clear winners and losers.
These five industries have thrived since the start of the Covid-19 pandemic. This article will investigate why.
Pharmaceutical
The pharmaceutical industry has made major advancements since the outbreak of the pandemic.
Ever since the world started to compete with the virus, the public and politicians alike have turned to science and scientists to provide solutions.
In search of drugs to limit the effects and vaccines to protect against the virus, the pharmaceutical industry has been on the rise for a few years now.
Companies involved in the production and distribution of equipment, medicines and vaccines have grown in size. Businesses centred on pharmaceutical logistics and distribution have seen immense growth.
Streaming
The streaming giants have seen titanic growth during the Covid-19 pandemic, with their user numbers – and profits – rising at exceptional speed.
The growth of existing streaming services, and emergence of new ones, is the result of consumers spending more time in their homes – perhaps because of furlough – and seeking refuge from their fear.
Streaming brands have successfully enticed new users, which boosts their profits. This enables them to create more content of a higher quality, boosting the expansion even further.
Gaming
Similar to streaming platforms, companies producing games consoles or games have thrived.
Once it became clear that the Covid-19 pandemic would be ongoing for some years, consumers found solitude from their anxiety in fantasy worlds – creating new identities and existing in coronavirus-free spaces.
Virtual reality brands have been advantaged by the pandemic for the same reason – people increasingly desiring an escape from the threat of coronavirus.
Hardware
Hardware stores have been on the rise because of Covid-19.
With additional time – perhaps from a reduction in professional workload and definitely from the collapse of social plans – consumers managed to find time for those tasks they hadn’t got round to yet.
Painting the spare room, building that bookcase or fixing the leak in the bathroom sink became a possibility for the first time – and hardware stores benefitted as people flocked to their shops in search of paint and parts.
Groceries
Grocery delivery companies have boomed in number since the coronavirus outbreak.
Grocery delivery brands deliver essential items to your door, including toilet paper and tinned goods.
The grocery industry has boomed due to convenience, but also due to the fact that people haven’t felt safe to leave their homes.
Consumers have opted to have items delivered to their home to limit social contact and reduce their risk of becoming ill with the virus.
The number of households buying groceries from a delivery brand continues to grow. Between November 2020 and November 2021, the number jumped 15 percent.
The Bottom Line
The Covid-19 pandemic and resulting consumer changes have enabled some industries to grow.
Five winners have been the pharmaceutical, streaming, gaming, hardware and grocery industries.
