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Which industries are thriving during the Corona Crisis?

It’s very easy to see the industries that are suffering in the Corona crisis. The entertainment industry – from theme parks to zoos, cinemas to restaurants – are obvious casualties. As are the personal services – physiotherapists, cleaners, nannies and dog sitters.

But which industries have thrived?

The ones that immediately come to mind are the e-commerce companies. With most people staying at home and high street stores closed, online stores that sell groceries and medical supplies to the public are in high demand - those that have, or can get, stock. Those companies that could easily adapt to sell more online – such as supermarkets, pharmacies, DIY stores and those that sell pet related items – seem to be doing well.

I have always loved libraries, so I was delighted to see that the library trade association have said that “over 120,000 people joined libraries in the three weeks after lockdown began. Loans of online e-books, e-magazines and audiobooks were up an average of 63.0% in March compared with last year.” This may be the boost that libraries need to keep being able to offer their great services.

This ties in with online education and digital entertainment seeing huge uptakes -  in all forms, from degrees to keep fit, cooking shows to coding, films, online games and podcasts and music. The suppliers of audio equipment that comedians, actors and others can use for making these at home have also seen a high demand. Online publishers and broadcasters are seeing a surge in demand, although that is tailing off a little now (source), whereas sales of UK national newspaper sales have plunged since the lockdown – and thousands of independent newsagents have closed.

Thanks to the lovely weather and people with extra time on their hands (and fortunate enough to have a garden) businesses that provide garden supplies such as seeds and spades, rather than seedlings and plants have struggled to keep up with demand. As has those companies selling home gym equipment – as those keen to keep up their training wanted to do so in their own living rooms. There is also demand for hair-care products as lack of access to hairdressers mean some are taking matters in to their own hands. With varying results. I suspect fans and other home-cooling solutions will become in high demand over the summer. However, suppliers to trades – such as catering supplies, industrial toilet roll suppliers (those large ones that fit in the public loo cannisters!) have had to adapt and change their packaging and distribution methods, to become more “consumer” focussed.

The Advertising Association states that total UK ad spend is expected to decline 16.7% in 2020 compared to 2019 (source). This is the first time digital ad spending will decline for the first time since it was introduced in 1994.

Those shops that sold fashion clothing, shoes, and cars, even if they could sell online, have reported problems. Why buy new shoes if you spend most of your day in slippers? Why buy a new car when the old one hasn’t gone more than 25 miles this month? This has caused excess stockpiling, and the UK Warehousing Association has warned that Britain’s warehouses are likely to reach capacity by early May (source).

With many now working from home, online communication tools have seen a sharp uptake. As has demand for broadband and data services. However, it’s not just the workers who are using it – I’ve coached several people in their 70’s on how to use Zoom (which now seems to be a generic term for VOIP) – for art classes, diabetes information classes and music groups

With so many companies struggling, law firms are seeing an increase in demand for advice form employees and employers. Consultants are also in higher demand – but there is less budget to spend on them (source).

But the statistic that has really brought it all home to me - is that Funeral activities have seen a surge in demand as death tolls rise.

This article focuses on the industries that have benefitted from the Corona crisis. I recognise and acknowledge that there has been a huge negative affect from the Corona crisis on individuals, particularly keyworkers. Also, it has exacerbated inequalities - for women, those with a BAME background and those living in poverty etc. I also recognise and acknowledge my own privilege of being able to continue to isolate and work from home.

I am an inventor, engineer, writer and presenter. Other stuff: Royal Academy of Engineering Visiting Professor of Engineering: Creativity and Communication at Brunel University London; Fellow of the Institution of Mechanical Engineers and have a PhD in bubbles; Judge on BBC Robot Wars.
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