9 Types of Businesses that Thrive in a Pandemic
Author: Catherine Howell March 20 | Blog
Discover the 9 types of businesses that thrive during a pandemic
We’ve stocked up on the toilet paper and the cupboards are full. Banded together in isolation from some strange twist of events, it’s only normal to feel a little bit panicked about the future. If you’re thinking there won’t be any more clients for digital marketers, think again. This can be a boom time for many industries!
Don’t believe us? Here are just 9 types of businesses that thrive during a pandemic.
9 Types of Businesses that Thrive in a Pandemic
1. Fitness Apps, Coaches & Influencers
How are you supposed to stay active stuck in a 70 square meter apartment? While gyms and yoga studios close up shop as streets go quiet, the world will become restless within the confines of their homes.
Online fitness videos, apps and influencers will experience a surge in traffic and downloads. This can also be an opportunity for traditional gyms and fitness studios to start diversifying their incomes and creating an online income stream for themselves offering up online training classes or programs.
2. Divorce and Employment Dispute Lawyers
You could say that being stuck in isolation with your partner is a true test of a relationship. Unfortunately in China, after isolation was imposed from COVID-19, not many couples passed. It experiencing a spike in divorce rates during the pandemic.
On the flip side of this, economic downturns lead to job lay-offs and contract breakages. Companies who aren’t careful will be left open to liability. Lawyers who fight for employees and businesses will both be kept busy along with their neighbours down the hall in the divorce division.
3. Condom & Lubricant Brands
As many will be getting sick and tired of their spouses’ company, just as many will be loved up between the sheets.
Sex is one of the best ways to combat high cortisol levels and a single orgasm can release a massive amount of that feel-good stuff oxytocin. Brands and businesses that can enhance, support or create a healthy sexual appetite will be poised to make a lot of money.
While condom sales spike, so to will births nine months down the line. Later to be known as the Corona Babies.
4. Job Market Websites
Those who have been laid off will be looking for new work opportunities whilst businesses will be looking for flexible talent such as freelancers and contractors.
Local job sites, Indeed, Upwrok, Fiverr, LinkedIn, all of these are set to experience high levels of engagement as the workforce settles itself back down into a new normal.
If you’re looking for contractors or want to land paid gigs & internships as a Facebook marketer, click here.
5. Medical Alert Bracelets & Brands
As if this industry wasn’t doing well enough before with Boomers coming into retirement, throw a global virus in the mix and the demand for products that can bring peace of mind skyrockets.
Medical alert bracelets, at-home test kits, face masks, and sanitiser brands will skyrocket in price.
6. Meditation Apps & Courses
Fear and panic is not a good place to operate from. Keeping a cool head during tough times is what will turn the situation from disaster to growth opportunity. Easier said than done right? How are you supposed to stay calm and carry on when the whole world is in hysterics around you?
Mindset skeptics will suddenly turn into avid practitioners and downloads for meditation apps and online courses that help people to reconnect with their inner peace will surge. Some of our favorites include brain.fm and ThinkUp.
7. Video Conferencing Companies
Remote working with large teams is an art. Video conferencing is one way to bring the digital a little closer to a real face-to-face experience. Companies like Zoom and Squadcast will become the connections keeping businesses afloat by allowing teams undergoing self-isolation to virtually collaborate.
8. Professional Development Courses
It’s expected that by 2028 50% of the workforce will be made up of freelancers (currently sitting at 31%). As market conditions change and employers are forced to lay off teams, people will be looking to take their futures into their own hands.
Companies that suffered a hit and are looking to stay afloat will be trying to pivot and innovate in their businesses.
Coaches who provide personal or professional development – especially strategies that are associated with making money, generating business or sales will be the hot item on the menu.
9. Digital Marketing Freelancers & Contractors
When there’s nowhere to go but indoors, the only shopping taking place will be online. Businesses that have been slow to the curve will either go bankrupt or scramble to set up their set ups online. Marketers competent in helping businesses succeed in this space will be playing a big part in reducing the impact of the economic hit from a pandemic.
Likewise, when the belt gets too tight, employers are left with little choice than to lay off their teams. Usually, and unfortunately, the first to go will usually be the marketing teams. Companies will turn instead to flexible contractors and freelancers to support their marketing needs during uncertain times.
Our thoughts go out to all of the small businesses out there who are feeling the blow from COVID-19. Be sure to research any local subsidies available to you to get you through these tough times (tip: Facebook is giving away $100M in ad spend to small businesses). Tough times will make you stronger for them. You got this!