The Covid-19 pandemic has impacted almost every aspect of our lives, from the way we work and socialize to the way we consume goods and services. While many industries have struggled during this time, some have found themselves thriving. Here we will explore five industries that have made the most profit out of Covid-19 and the factors that have contributed to their success. From tech companies to e-commerce giants, these industries have adapted to the new normal and emerged as winners in the face of adversity.
Pharmaceuticals
The Covid-19 pandemic brought the world’s attention to the importance of pharmaceuticals, particularly vaccines and therapeutics. The pharmaceutical industry was among the top performers during the pandemic, generating huge profits. Companies such as Pfizer, Moderna, and AstraZeneca made significant gains from developing vaccines. They received funding from governments and also benefited from selling doses to various countries. Moreover, the demand for healthcare products and services such as respiratory medicines and diagnostic tests surged, leading to an overall increase in pharmaceutical sales. While the pandemic has been challenging, it has certainly highlighted the importance of the pharmaceutical industry in public health emergencies.
“UK Small and Medium-Sized Enterprises (SMEs) – Key Metrics”
| Revenue (GBP) | Employees | Industry | Location |
| 500,000 | 10 | Manufacturing | London |
| 200,000 | 5 | Retail | Manchester |
| 150,000 | 3 | Services | Birmingham |
| 300,000 | 8 | Technology | Edinburgh |
|---|
Food delivery
As more people opt for home deliveries due to social distancing protocols, the food delivery industry has seen a surge in profits. From pizza and burgers to grocery deliveries, businesses like Uber Eats, DoorDash, and Instacart have experienced a significant boost in demand, with many even recruiting more delivery drivers. Some food delivery apps have even waived their delivery fees in a bid to encourage more people to use their services. It’s clear that as the pandemic continues, food delivery companies are set to keep benefiting from the increased need for convenient and safe delivery options.
Online Education
With the sudden closure of schools and universities due to the pandemic, online education saw a surge in demand. Many schools and universities had to quickly adapt to virtual classrooms to continue educating students. This shift to online learning also opened up new opportunities for e-learning platforms, such as Coursera and Udemy. These platforms offer a range of courses that individuals can take from the comfort of their homes, giving people the chance to develop new skills and knowledge during the pandemic. Online education is here to stay and is set to continue its growth post-pandemic.
Streaming services
While movie theatres and traditional television networks suffered during the pandemic, streaming services like Netflix, Disney+, and Hulu saw a surge in subscriptions. With millions of people stuck at home and looking for entertainment, streaming services provide an easy solution for binge-watching their favourite shows and movies. Not only did they gain new customers, but existing subscribers also spent more time streaming content, leading to increased revenue. This trend is likely to continue as more people turn to streaming services for entertainment and new movies are released directly on these platforms instead of in theatres.
Profitable industries that adapted and thrived.
| Industry | Profit Increase (%) | Industry | Factors for Success | (%) |
| Pharmaceutical | 25 | Pharmaceuticals | Development of vaccines and therapeutics, government funding, increased healthcare demand | 40 |
|---|---|---|---|---|
| E-commerce | 40 | Food delivery | Surge in home deliveries, waived fees, convenient and safe delivery options | 35 |
| Online Gaming | 20 | Online education | Shift to virtual classrooms, e-learning platforms, opportunity for skill development | 50 |
| Streaming services | 20 | eCommerce | Accelerated online shopping, closure of physical stores, increased demand for essentials | 39 |
| Healthcare | 50 | Streaming services | Increased subscriptions, easy access to entertainment, release of new movies on platforms | 40 |
eCommerce
The pandemic accelerated the growth of eCommerce as people avoided physical stores to stay safe. Online shopping has become an essential way of purchasing goods for millions of people worldwide. With an increase in demand, online retailers made significant profits in 2020. Some companies such as Amazon experienced tremendous growth, benefiting from the closure of physical stores. The eCommerce businesses that focused on essentials such as household goods and groceries experienced increased revenue. This shift in consumer behavior towards online shopping is likely to continue even beyond the pandemic, making eCommerce a promising industry for the future.
