2020 has been a challenging year for many businesses. However, not all industries have suffered – in fact, some have been thriving. Below are just some of the industries that have been booming as a result of Covid-19.
Due to lockdown restrictions, many brick-and-mortar shops were forced to close temporarily earlier this year. This meant that customers had to do their shopping online. Many ecommerce businesses will have made a huge profit this year as a result. With the pandemic still far from gone, many people are still choosing online stores over physical stores, which means it may not be too late to cash in on the boom. In fact, ecommerce will likely only continue to grow. This guide offers more information on starting an ecommerce business.
As a result of being urged to stay indoors, many of us have been binging on all forms of home entertainment from video games to movies. Streaming services like Netflix have seen a huge spike in demand. Meanwhile home theatre hardware sales have also been going up. This is another industry that could be worth breaking into – our love for home entertainment isn’t going anywhere and the industry is likely to continue thriving in the future.
Unsurprisingly, cleaning products and services have also been picking up business. Disinfectant sprays, hand sanitizers and soap have all seen sales rocketing. A lot of empty office space has meant that some cleaning companies have seen falls in revenue, however as companies reopen this is changing and many cleaning services are seeing more business than ever. Think you’ve found a way of cashing in on the cleaning boom? With the help of a company like Toll Chemical Manufacturing, you may be able to formulate and market a cleaning product. Alternatively, you could take the chance to start your own cleaning company.
PPE stands for personal protective equipment and includes masks, visors and gloves. Before the pandemic, there was virtually no domestic market for PPE. Nowadays, almost everyone is carrying a mask. Some crafty entrepreneurs have been making their own masks and selling them on sites like Etsy (this guide at Moonlighting offers more information on how to make a face mask). Other companies have started selling branded masks as extra products within their range. Consider whether there might be a way for you to start selling PPE.
People have been getting into cycling in a big way this year. With the gyms closed and restrictions on travel being introduced, cycling provided many people with the workout and sense of adventure that they were missing. Bikes and cycling accessories have been flying off the shelves with many retailers running out of stock. Repair shops have meanwhile been busier than ever. Things are likely to ease off as we move into winter, however next year could still be a great year for cycling.
Another hobby that has taken off is gardening. Forced to stay at home, more people have been transforming their outdoor spaces. Plant sellers initially struggled as many garden centres were closed, but have since made up for losses with huge sales. Landscaping services have meanwhile been in high demand as more people have been building patios and digging out ponds. Gardening is very much a seasonal industry, so things will slow down in winter. However, business will likely pick up again next year in a big way. Here are just a few gardening business ideas for inspiration.
Online collaboration tools
Many offices closed this year and employees were forced to work remotely. This meant having to adopt new online collaboration tools. Videoconferencing tools are just one example of this – shares in Zoom have risen dramatically this year as a result of thousands of businesses buying up this software. Software for managing tasks and projects has also been a popular purchase amongst businesses. With more businesses expected to experiment with remote work in the future, online collaboration tools may still have further potential to boom.
Due to the mass closure of schools earlier this year, teachers had to find ways to conduct lessons remotely. This meant having to invest in new e-learning tools. Software companies and websites in this sector have seen a huge growth in revenue as a result. Heavy usage of e-learning tools is likely to continue in the future. If you’re a software developer with an idea for this sector, now could be the time to bring this idea to fruition.