What business industries thrived during the pandemic? Why did they do well? How did they come out the other side after the pandemic that destroyed so many businesses?
Many businesses sink in the face of recessions and COVID-19 has dragged businesses down more than ever before. The pandemic has put a strain on businesses, resulting in many have to turn virtual or completely shut down. However, there were a few industries that benefited from the difficult year.
A few companies took advantage of the period when, although many struggled, the opportunity was still there. These companies were successful because they chose to look outside at what the world needed. They adjusted their products and services based on what the world needed at that exact moment. What were these industries? Let’s see.
Pet Supply Stores
Animal shelters have thrived during the pandemic more than anyone would have expected. Lockdown restrictions had many people lonely and needing a change from their normal routine. Animal shelters took advantage of the moment and urged people to adopt a furry friend to keep them company during isolation.
Due to how fast people adopted pets, pet products skyrocketed. Those that offer services online thrived and even those who didn’t. We expect to see more pet product companies in the New Year.
Video Games
No doubt you could have guessed this one. When you’re spending weeks inside with nothing better to do, of course, you’re going to turn to video games at some point. Board games were another escape from the lockdown, but video games were the ones that really took off.
The Nintendo Switch was selling faster than stores could restock. Americans have spent millions on gaming this year and we’re not surprised. When you have more time than ever before, you’re expected to seek out more forms of entertainment, and video games are what most people decided to turn to.
Health
This one isn’t too shocking either. During the lockdown, many focused on self-improvement, including attempting to meet fitness goals. People were attempting to change for the better and when lockdown restrictions were first put into place, it was still towards the beginning of the year. This means that many were still holding firm to those New Year’s resolutions.
With people stuck at home, many were more aware of their health and had time to focus on it. Companies like Blue Apron made a comeback during the year because people had more time to prepare food and were more determined to stay healthy. Hundreds of fitness apps were downloaded during the first month of lockdown, with people making the best out of the situation.
Home Projects
Many were quick to take advantage of the extra time to improve their living space. Whether it was starting a garden or renovating their kitchen, people were tackling home projects one after another. When you’re spending time at home, you want your living space to be the best possible and many people finally had time to spend on projects that had been pushed off until then. With the pandemic hitting towards the beginning of the year, it’s no wonder that people decided to start gardens and try their hand at new projects.
Beauty and Skincare
I’m sure we can all relate to needing a haircut during the self-isolation period and, when finally desperate, were forced to do it ourselves. This was the case for many people. With not having access to salons or leaving the house, many people decided to take up doing their own beauty and skincare routines.
Businesses selling DIY kits saw a spike as well as those offering classes on how to. People got more comfortable with doing their own skincare and makeup, as well as taking a shot at doing their own hair. People have gotten adventurous during the pandemic and less shy to try new things.
Conclusion
The pandemic hit businesses and people hard alike. But, despite difficult times, people found ways to stay busy and not go stir crazy during self-isolation. As a result, businesses that entertained in any form thrived during the pandemic.
These areas are ones that still thriving and, if you’re considering starting your own start-up in the New Year, you may want to consider one of these industries. We believe that after the pandemic these areas will still do well and businesses in these areas have the power to thrive.
