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Unless you have been living under a rock, you must be aware that the Coronavirus pandemic has left businesses in shatters. Apart from taking the lives of people, it has also snatched away livelihood and sources of Income. 2020 was undoubtedly the most difficult time for businesses.
The nationwide imposed lockdown further worsened things to a huge extent. People were not allowed to go out of their homes; as a result, they were not able to go to their workplaces. The demand for fast food declined by a lot, and the business of apparels and hotels fell down.
But amid all this chaos, some industries thrived; they made millions during the difficult time. People were in need of the goods and services produced by these specific industries amid the imposed lockdown.
Top Industries That Are Thriving On The Coronavirus Economy
Since you are reading this article, I presume you like to keep a keen eye on the economy. If you do indeed, I have made a list of the top industries that are thriving in the coronavirus economy.
1. Bitcoins (Cryptocurrency)
When investors started to realize the gravity of the Coronavirus pandemic, they started selling off their Bitcoins, which led to a severe market crash. Bitcoins fell down to $3,000. Experts of the crypto market thought that it was the end of Bitcoins and that there was no coming back.
But the big whales in the market who knew the true potential of Bitcoins held on to their Bitcoins and took a step ahead and started buying more Bitcoins as the prices were already low. Soon the newbie investors started to follow the trend. All this led to a bullish market, which not only stabilized the Bitcoin market but also made the prices of Bitcoins skyrocket.
To start investing, visit Immediate Edge to create your trading account. The price of a Bitcoin on 1st February is a whopping $33,831. Last month it was performing even better as it hit its peak of $42,000.
2. Digital payment platforms
The COVID-19 pandemic has led to a rise in the use of Digital Payment apps. Governments of most nations were seriously condoning their citizens to pay digitally wherever possible.
In some countries, the government also imposed hefty fines on those who were transacting using cash. Contactless payment was heavily promoted during the pandemic and the imposed lockdown. The digital payment apps immensely profited from this. They got millions of new users joining their network and transacting on their platform.
3. Alcohol Industry
Do you know what time it was during the nationwide lockdown? It was beer o’clock everywhere. Since people mostly stayed at home.
If you had followed the news channels, you must have seen people standing in long queues to buy alcohol amid lockdown since most bars and lounges were shut down due to Government restrictions. Liquor stores and counters made millions by just selling alcohol.
4. Food Delivery Services
Raise your hand if you ordered a cheeseburger at 1 in the morning during the lockdown. People were heavily dependent on food delivery services like UberEats, ChowNow, InstaCart, and Go Puff. UberEats even made provisions for contactless delivery for their customers.
Small-time grocery shop owners also implemented food delivery services into their network and made huge profits.
5. Gym Equipment
Too bad for fitness freaks, as all the gyms were closed during the COVID-19 pandemic. But it did not stop most fitness freaks from putting on some abs as they ordered the gym equipment in their homes.
While people were working from home, some people were gymming from home. These days most people live in heavily congested cities and do not have access to parks and other fitness equipment, so instead, they ordered gym equipment at home.
Final Thoughts
There you go, above were the industries that thrived on the Coronavirus economy, and the demand for the goods and services produced by these industries are not going anytime soon.
