The Covid-19 pandemic has so far been an incredible market destabilizing force. From the very start of the pandemic, many businesses struggled to survive. Others were instantly more successful as they filled the gaps in the market left by businesses that couldn’t cope. We take a look at which industries are still thriving in the lockdown.
Home and Garden
The lockdown has seen a big surge in revenue for online businesses selling home decoration and gardening products. More people are staying at home, and less going on holidays. So people have the income to spend on their homes and the time to spend it.
Home and Garden online orders are up on average 174% on last year’s figures. It will be an interesting market to watch next year when everyone is flying abroad instead.
Courier and Delivery
For obvious reasons, the revenue of courier services and other delivery services has skyrocketed. With online shopping climbing to new heights, someone has to deliver all that product. Even many restaurants that once thrived as dine-in experiences are now converting to home delivery.
Bookstores are an interesting one. The expectation was that the lockdown would decimate bookstores. But the ones offering mail-order are actually improving their sales since reading is on the up. This year 41% of adults are reading more books than before. That’s a big boost to the market.
Of course, anything involving online sales has had a boost to business. Those looking to start an online store would be hard-pressed to think of a better time. Now more than ever, customers have the time and drive to look around for new and interesting retail propositions.
It may look like the market is suffering due to the pandemic. But this pressure focuses on a small subset of businesses that find it hard to adjust. The market, in general, is still rising very well this year and shows no signs of slowing down.