10 Industries That Will See Post-Pandemic Profits
It’s a strange feeling to reminisce about what life was like one year ago, a time period which is now referenced by the majority of people as “Pre-COVID.”
We yearn for the “Pre-COVID” times, and we’re eager for the era that will be inevitably named “Post-COVID.”
Many businesses and industries have suffered during COVID and will have to claw their way back to “normal.” However, there are a number of industries that have actually seen profits increase and are expected to continue to thrive post-pandemic. Others that are currently struggling are set to boom in the aftermath of COVID.
Keep scrolling to check out 10 of the industries that have a positive outlook for 2021:
Personal Protective Equipment
- Demand for PPE has obviously been off the charts. Because of COVID, there will most likely be a call for hospitals to have stockpiles on hand in case a similar crisis happens in the future.
- PPE has expiration dates, so the demand for more will be constant to keep the stockpiles in place.
- Digital “smart” PPE is emerging and sure to see a boom as technology meets protective wear.
Online Meeting Platforms
- Who would have thought that virtual meetings would become so…normal? Zoom, Google Hangouts, and Microsoft Teams boomed during the crisis, and most likely will not disappear post-pandemic.
- Companies have adapted to allow employees to work from home, giving more flexibility and capability of work/life balance. 25-30% of the U.S. workforce will be working form home multiple days per week by the end of 2021, according to estimates by Global Workplace Analytics.
- Online Meeting Platforms will certainly still be in high demand, even when offices open back up.
- The increasing dependency on virtual meeting platforms has increased the demand for cybersecurity, as our data is more susceptible to hacking than ever before.
- Because so many companies were pushed to move their services online, and because there was somewhat of a “rush,” all of the necessary security steps may not have been taken to ensure that data is protected.
- Businesses have been and will continue to spend more money toward their online safety measures.
- Children are spending more time at home than ever before! In the U.S., there was a 16% growth in toy sales in the first six months of 2020. Games and puzzles made up 37% of the market, while outdoor toys, building sets, and arts & crafts were also very popular.
- This market is expected to expand 4% every year between 2019 and 2025. The industry is expected to continue to benefit from trends caused by the pandemic, with parents looking to find non-digital, more traditional toys to limit their children’s screen time.
Online Grocery Delivery / Food Delivery / Online Shopping
- This industry has bolstered business for many supermarkets across the United States; online grocery shopping is set to make up 6.4% of the global grocery sales by the end of 2021.
- Restaurants started to facilitate delivery orders so they could continue to operate after closing their doors. The current crisis has accelerated a trend that was already in motion, and food delivery is now set to make up 21% of the restaurant market by 2025, whereas pre-pandemic it was predicted to account for 15% of the market by the same year.
- Unsurprisingly, companies like Amazon are benefitting from the pandemic. With people stuck at home, online orders were the only way to shop for non-essential items, and Amazon's share price has gone through the roof. Online shoppers spent around $11,000 a second on the site according to newspaper The Guardian, and the money spent now will likely help the international delivery giant expand even further.
- Right now online shopping makes up 16.1% of retail sales worldwide, but that figure is estimated to rise to 22% by 2023, according to eMarketer, showing that our love of buying with a couple of clicks isn’t set to end any time soon.
- Billions of dollars are being pumped into the pharmaceuticals industry as companies such as Pfizer and Moderna create vaccines against COVID-19.
- The importance of continuing infectious disease prevention and treatment research now that several coronavirus vaccines have been found is huge, so that the world can be prepared for any future pandemics. The drug discovery market continues to climb in value, and it's projected that it will be worth $71 billion by 2025, which is more than double its 2016 value, according to market and consumer data site Statista.
- Stocks in biotech companies have also shot up, and this global crisis has demonstrated how crucial the pharmaceuticals industry is.
Personal Hygiene Products
- Good hygiene practices have become such a natural part of our daily routine that going back seems impossible.
- Looking through history, previous pandemics and epidemics have changed how people at the time behaved when it came to personal hygiene. For example, the 14th-century Black Death prompted authorities to improve street cleaning and change water maintenance practices.
- With additional hand sanitizing stations having been installed in most public places and businesses, it's safe to say that companies distributing hand washing products are unlikely to go out of business anytime soon.
- The pandemic saw those in lockdown turn their attention towards their gardens, providing a boost in sales for home and garden retailers. Even city dwellers were making the most of limited space, with balcony gardens and vegetable patches common.
- As lockdowns have reignited gardeners' passion for time outdoors and gave non-gardeners the bug, the industry is set to do well post-pandemic, and the gardening tools market is set to reach $105.53 billion by 2025 at an annual growth rate of 4.2%, according to Market Research Future.
Remote Medical Services
- It's understandable that people want to avoid visits to hospitals and doctors at the moment, and while medical staff are urging the sick to seek help as they normally would, it is likely that many are instead relying on remote medical services for advice.
- Systems such as Teladoc Health are seeing users flock to their platforms as the pandemic discourages people from leaving home. Remote diagnosis and treatment service Zipnosis reported a staggering 3,600% increase in its usage as a result of coronavirus.
- Governments are recognizing the importance of offering virtual treatment where possible, and in March the US government announced that there would be an expansion of such services across America. This is likely to become a global trend, and the telemedicine sector is set to grow to $16.7 billion by 2025.
- "What’s the first thing you’ll do once everything’s back to normal?" is one of the questions likely being asked around dinner tables all over the world. Having so much time on our hands means more time for dreaming about things we’d rather be doing, and as coronavirus has been a striking reminder that life is short, many will likely be keen to start crossing items off the bucket list once restrictions are lifted.
- As well as once-in-a-lifetime experiences, smaller local attractions have gained popularity as research shows that people are more likely to stay closer to home and take trips to zoos and theme parks.
- It's clear that we'll be keen to get out of our homes and experience something new as soon as we can.
To read more, check out this source:
LoveEverything's Industries that will boom after coronavirus
- Why Effective Communication is Essential in Business
- Remote Work Here to Stay
- Learning From General Mills and Shrimp Tails
- 11 Years of Omaha Magazine’s “Best of B2B”
- Due Diligence: Preparation is Key
- Your Business as a Machine: Exit Planning Is Not Just for Exiting
- Self-Care in a Pandemic
- Asset Sale vs. Stock Sale
- 5 Most Influential Women in the US
- Advertising Industry Outlook – Adapting Strategies
- How Important Is Due Diligence?
- 6 Best Christmas Movies of All Time
- Construction Industry Outlook – Remodeling & Renovation
- 4 Upcoming Business Trends of 2021
- Industries Booming During COVID-19
- What Are You Thankful For?
- Why it Makes Sense to Carry as a Seller
- Let's Talk About Pets
- What Exactly Are the Benefits of an SBA Loan?
- 2020 Industry Highs and Lows
- What the "Big Buyers" Want
- What’s an earnout, and why does Ryan Reynolds have one?
- M&A Advisor or Business Broker?
- How to Sell a Business in 7 Easy* Steps
- The Firm Advisors: #1 in the World -- Again!
- Documentation is Key During This Time
- Small Business Debt Relief Program
- Work On Your Small Business (While You Aren't Working In It)
- Meet the Listing: Body Shop w/ Towing & Auto Repair
- Superstitions and Deal Killers
- Choosing Your Investments: Stock Market vs. Business Purchase
- Video: Deal Education
- Industry Spotlight: Advertising and Marketing
- Meet the Team: The Firm Advisors Office Tour
- Securing Your Business Against Ransomware
- M&A: What's an M, and what's an A?
- Location, Location, Relocation
- $20M in One Month
- Pet Care: A Recession-Proof Industry
- The Firm Named to BBB Honor Roll
- Firm Family Christmas
- Firmgiving 2019
- Cortney Sells on IBBA's Podcast
- The Firm Makes Inc. 5000
- M&A: The Industry Defying Gravity
- Have You Met Makayla?
- Dr. Lemberg's Pathway to Retirement
- Steven Makes His Mark in M&A
- Hot Off the Press - June 2019 Magazine
- All Good Things Take Time
- The Firm June Magazine Release Celebration
- The Firm Feels Good Doing Good
- Corner Kick Spoils our Swan
- Opportunity of the Week: A Business That Brightens Children’s Futures
- Q&A With Cortney: Stock Sale Versus Asset Sale
- The Ins and Outs of Seller Financing
- Preparing for the Perfect Retirement
- The Firm Is Breaking Industry Records & Poised for Growth in 2019
- Simply the Best
- Competitor Analysis, Opportunities Listed
- Dentist to Dreamer - Hard Work Pays Off!
- Kansas City Tech Company Useagility Sells to First Tek
- 8th Year as Omaha's Best Business Brokerage
- Sellers: Why You Should Finance Your Buyers
- Summer Intern 2017 - Ameya Shelby
- Industry Forecast: Mind the Generational Gap
- 8 Things We Wish Every Business Buyer Knew Before Calling Us
- Selling Your Business: Getting a Proper Business Valuation
- Asset Sales or Stock Sales: Determining the Best for Your Business Transaction
- Why (and How) Business Owners Are Selling in 2017
- The Law of 3's - Choosing the Right Kind of Broker
- A Mutually Beneficial Relationship
- Reaching Out is Key
- Confidential Business Reviews
- A Change of Pace to Business Ownership
- Confidentiality is at the Core of Business
- Moving into the Boardroom
- Buying a Business vs. Starting Your Own
- Bringing Buyers and Sellers Together is Just the Beginning
- Client Interfacing in the Digital Age
- Four Questions Every Buyer Should Ask
- The Firm Outpaces Transaction Totals from Previous Two Years
- Faces of Omaha 2016: Face of Business Brokerages
- The Firm Business Brokerage Set to Double Sales within Seller's Market - MBJ 2014