- March 29, 2020
- Comments: 0
- Posted by: Pelumi Babatunde
As the Coronavirus continues its strike all around the World, we tend to be adjusting to life with this pandemic, we have reacted in one way or the other to the adverse effect caused by the Virus. Industries and different sectors have reacted in the same way. Some have been able to successfully launch a suitable counterattack and therefore thriving while some have not recovered from the blow they were dealt by the outbreak.
In this publication, we are going to examine the:
Winners: Sectors thriving
Losers: Sectors diving (Subsequent publication)
The sectors in this category have fortunately found themselves on the good side of the pandemic, therefore they are thriving.
Arguably, these sectors stand to gain because they are in the forefront of the battle against this pandemic. Gilead (Pharmaceutical Company). Gilead Sciences, Inc., is an American biotechnology company based in US that researches, develops and commercializes drugs. The company focuses primarily on antiviral drugs used in the treatment of HIV, hepatitis B and also they are vested with the responsibility of developing drug to curb COVID-19; they recently expand emergency access to experimental Covid-19 drug. The role of the Medical Sector cannot but be mentioned as well.
Logisitcs and Deliveries:
In this era of social distancing, much will be expected from several delivering agencies, because they would need to step up their games to deliver goods and services to the doorsteps of people and they have not disappointed. Jumia for instance has offered African governments use of of its last-mile delivery network for distribution of supplies to healthcare facilities and workers. Jumia will also reduce fees on its JumiaPay finance product to encourage digital payments over cash, which can be a conduit for the spread of coronavirus. Meanwhile, UK food delivery app Deliveroo has launched a “no-contact drop-off service”. This provides restaurants with additional packaging and seals for orders to be left on customers’ doorsteps.
Video Conferencing platforms have benefited greatly. People who cant go for actual and physical meetings have resorted to Virtual meetings. Zoom as a case study has merited massively; The company’s sales and share price are already up over 50% in 2020. CISCO Webex, their close competitor also reported on March 17th that “People spent 5.5 billion meeting minutes on Webex in the first 11 business days of the month of March” Cisco CEO Chuck Robbins said on CNBC.
Online Shops(E-commerce Marketplaces):
Outlets like Jumia, Amazon, JD.com have benefited greatly. Masses have resolved to doing online shopping and getting it delivered to their door steps. Jumia has provided access to affordable basic foods and sanitary essentials on the marketplace platform. Amazon has added 100,000 new jobs to manage the extra demand. Chinese eCommerce giant JD.com is using unmanned vehicles to deliver food and medical supplies.
Online Streaming and Gaming (Netflix, Disney+):
In this pandemic time, Netflix has become for many a kind of solace. The financial figures show that Netflix could thrive in a time of global lock down and widen its lead in the streaming wars. YouTube comes close as well as churches now make use of YouTube extensively to stream their services. Online gaming platforms are also experiencing record volumes.
While some are enjoying their good times, some are enjoying otherwise. In the next publication, we are going to look at the diving industries; the industries that have been dealt a major blow.