Disruption & Opportunity: 3 Industries Expected to Boom Post-COVID19
October 1,2020 | Joyce Ibrahim
The pandemic and the global crisis that ensued have wreaked havoc across industries. As the world was confronted with its sudden new reality, countless businesses struggled to stay afloat. And while the pervasive disruption may seem destructive at first glance, it ushered an age of opportunity with industries rising to the occasion and reshaping consumer behavior.
We may still be in the midst of the crisis, with no clear vision on what the market may look like following the crisis. However, making the best out of the current conditions and their ability to reform and transform, these 3 industries have witnessed tremendous growth and may continue to do so post COVID.
The healthcare sector has been the cornerstone of the fight against COVID. The widely contagious and deadly disease shed light on the importance of skilled medical staff, top-notch medical equipment, and healthcare accessibility in such unpredictable circumstances.
Governments across the globe have turned their attention to the healthcare industry, with heavy investments underway in preparation for potential outbreaks. Accordingly, hospitals, medical equipment, personal protection equipment, and pharmaceuticals are set for significant growth post-pandemic.
Furthermore, due to isolation and restrictions to circulation, telehealth peaked during the pandemic, and is likely to continue booming as we move forward.
From pre-school to higher education, COVID-19 forever reshaped the way humanity learns. E-learning is far from being a new concept, however educational institutions worldwide have been slow to change and embrace technology.
But with students’ physical presence serving as a catalyst for the virus, educational institutions have been forced to adopt virtual classrooms.
Offering safety, accessibility, and convenience, E-learning is expected to further expand and take over traditional teaching methods and mediums.
Furthermore, E-learning does not limit itself to primary and higher education. As unemployment is still on the rise as a result of the pandemic, job-seekers across industries are turning to E-learning to upskill and increase their hireability.
In an increasingly digitized and globalized landscape, e-commerce had already been thriving pre-pandemic. But what consumers once sought out of speed and convenience, they now seek out of necessity. Stay-at-home orders have prompted consumers to turn to e-commerce to maintain social distancing. And although most countries have lifted these orders, the isolation period has created and reinforced new shopping habits.
Hence, online grocery, apparel, and entertainment shopping may eliminate the need for physical stores in the long run.
Retailers who have embraced this technology were mostly able to mitigate their risks and ride out the pandemic, paving the way for more categories of products and services to emerge on e-commerce platforms.
Although certainty and COVID-19 don’t go hand in hand, it has become clear that the crisis has deeply transformed the way we work, learn, shop, and live. And its effects will likely impact more and more aspects of our lives in the coming years, if not decades.
What is certain, though, is that the businesses which will thrive post-pandemic are those willing to adapt, transform, and embrace technology.
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