The sudden spread of COVID-19 (Coronavirus) has affected the population at the global level. It has created a situation of panic amongst humankind. The world is seeing a sudden attack of events that they had not even imagined. As the number of COVID-19 patients is increasing day by day, many countries have decided to adopt isolation as the only solution to avoid further spread of the virus. People are not allowed to come out of their homes and strictly suggested following the rules of quarantine until the virus takes its last breath.
As we know, the situation doesn’t seem to be bettering, so soon, every entrepreneur and individual is trying to seek options that aid them financially in the time of crisis. The business world is no exception. Fortunately, we revolve around technology so much that in such adverse times, it has shaken hands with human kinds to help with regular mundane. Due to the strict rules of social distancing all over the world, people are staying home only to count days for everything to come back to its standard shape. However, every evil situation brings along opportunities too. In this dark time around the world, there are ideal businesses in which you can invest and benefit.
Amidst the chaos of the COVID-19 pandemic, there is a ray of hope for the businesses to grow. It is time to forget offline and move online to meet day to day needs and live at comfort at home with online services. Let us first see the impact of the coronavirus on our society.
- Spike in Online Shopping: Due to complete lockdowns in many countries, people have shifted to online shopping for daily essentials. Therefore, they have spiked the online shopping rate. Many online portals are falling short of products and services or are having delayed deliveries.
- More Installation of Mobile Applications: Despite the adverse scenario, there is a sudden growth in the installation of mobile applications. People are seeking anything and everything through mobile apps, be it games or online grocery store.
- Recommendations of Experts:Retails and logistics experts claim that online shopping is appreciated during the outbreak of coronavirus pandemic. Industries like electronics and healthcare have experienced an increase of 91 percent and 109 percent, respectively.
Therefore, it is evident that online business has held the rope of potential in times of crisis and are providing services in this challenging situation. If you were seeking business opportunities or have an offline venture and are looking for an assured sufficient space of business, we have some options for you. Below are the top 10 business ideas that are worth investing amidst COVID-19 and have a promising future.
- Online Education Application: E-learning or education application is one of the most promising businesses to invest as it has no chance of fall-back. Since all educational institutions are shut down due to the pandemic, people are taking a keen interest in taking up online courses that are certified and add value to them. Parents are interested in taking up a course for their kids while adults are building up new knowledge in their free time just by sitting at home.
- Grocery Online Store: It is a basic need for every individual, whether living with a family or alone. Grocery shops are witnessing a sudden rise in demand as people are not allowed to move out of their houses. Therefore, people have joined hands with online grocery stores to meet basic needs. Investing in such a venture is beneficial during the quarantine and afterward, too.
- Healthcare Online Delivery: Especially during this outbreak, the pharmaceutical business has seen a significant hike in demand. Undoubtedly the sole responsibility falls on the shoulders of the healthcare industry. People affected by any virus or having regular health issues are facing difficulty in going to the medical stores to purchase medicines. Online medicine ordering applications are receiving high demand, ensuring people don’t face trouble. This is not a new venture but has always been the most in-demand much before the outbreak.
- Fitness Applications: Gyms and fitness centers are closed due to the outbreak of COVID-19. A lot of people who are believers of fitness and follow it religiously are missing out on their fitness training sessions. You can invest in an online app where trainers train the clients and set promising goals to reach. Different kinds of workout patterns can be added to avoid boredom and create a healthy environment in this time of stress. Many people have turned towards the digital platform for training their bodies. This industry has always been famous and appreciated by people and will continue to do so.
- Food Delivery Apps: Due to COVID-19, many restaurants and public food joints are shut down. To get it going, you can venture into an online food ordering app. This is no new business, but it is undoubtedly doing great in such hard times. People cannot avoid eating food. They are bound to order or cook. Offer your application for home delivery of food. Ensure a sanitized pattern that will delight them for pushing in more orders in the future.
- Pick and Drop Delivery Application: As per the Hill states, “A changing economy means a new opportunity, especially for online delivery services.” As the provision of the offline services being closed for the cause of social distancing, the option of pick and drop delivery is a true blessing. If the customer needs a thing, he can order it to get picked and dropped at his doorsteps. This is becoming a rage as it is providing the comfort of having anything and everything at home.
- Media & Entertainment: With the help of social media platforms, many celebrities are connecting to their fan base. A lot of movies and television shows are getting telecasted again on different TV channels and online media platforms for engaging people in this isolation time. It is one of the pastimes for many people, and investing in it will be a boost to your venture from the beginning itself.
- Ecommerce Shopping Applications: Due to the hurricane of Coronavirus global spread, it is difficult for regular people to meet the bare needs of everyday life. To sustain a livelihood, customers reach out to e-commerce websites and their applications for making a purchase. According to the Quantum Metric reports, online sales have increased by 52 percent from the year-ago, and the online shoppers have increased by 8.8 percent since the COVID-19 outbreak.
- Gaming applications: People are locked in their homes. They have plenty of time to invest in pursuing hobbies which they had lost touch. Gaming is one of the most successful industries in times of today. Investing in the gaming business is a great idea as people are hooked to their mobile phones or computer systems to pass through this crucial time.
- Insurance Industry: Due to the sudden outbreak of COVID-19, people have panicked as there is no vaccination yet discovered for its cure. They are worried about their life and the safety of their family. The insurance industry is getting the full benefit of this time. People are seeking insurance so that their families are well-kept and secured. The insurance industry has always been thriving; however, lately, it has found its final edge due to coronavirus pandemic.
Conclusion: This is an unprecedented phase for the entire world. While there is no solution as yet to fight the global pandemic, social distancing is the only curb. To keep on the work, people are working from home. Above are the listed industries which can be worth investing amidst COVID-19.
Diana Morris is Marketing Professional with over 8 years of Experience. She is interested in blogging and helps Small businesses with innovative ideas that keep pulling in newness and creativity. Currently, she heads marketing team at BizInfor, a b2b database solution firm providing various services like data cleansing, data appending, lead generation email lists, etc.