The COVID-19 pandemic has had long-lasting effects all over the globe. While people are being affected by the virus, either dealing with an infection or staying at home to avoid becoming infected, it has led to widespread changes elsewhere. In particular, business is not continuing as usual.
Cities across the U.S. have been hit by severe business challenges, with many having to close their doors—for instance, over 1,000 New York City restaurants have permanently shut down since quarantine began in March 2020. Yet, while some businesses are struggling to keep their doors open, others have been thriving since the pandemic hit the States.
Five particular industries have been thriving since the start of the pandemic, all related to personal wellness, remote team management, and digital communications. In a time where people are more isolated than ever, it’s no surprise that they’re looking for ways to both fill and better manage their time. Here are some industries that have been performing well since the beginning of the year.
1) Health and Wellness
Among the various niches performing well during this time, the health and wellness industry has been doing incredibly well. Already an evergreen marketing industry, one that made $4.5 trillion in just 2018, people are relying on this industry more and more, whether to keep themselves in shape while staying at home, attempting to lose some weight they’ve put on since the pandemic started, or trying to boost their immune systems.
This is an industry that isn’t going anywhere anytime soon, and it has only gotten stronger as people worry about their health due to the pandemic and the sedentary lifestyle that comes with it. Many health and wellness companies are fighting to make the most of it during this time, offering online lesson planning and determining better ways to reach potential clients and customers.
One way many have approached this during the pandemic is through affiliate marketing, as it allows them to utilize influential businesses and influencers to promote their products and services to greater audiences
2) Work from Home and Time Management
It’s no surprise that the digital conferencing tool Zoom has exploded in popularity throughout 2020. Boasting a stock shares rally of 600% across the year, the platform became the staple for team business meetings, in-person conferences that switched to digital-only, and for family and friends to stay in touch while maintaining a safe distance between one another.
Time management tools have seen a similar sort of growth, especially as people try to find their footing once transitioning to the work-from-home lifestyle. All and all, businesses within these industries have profited greatly off of the pandemic: People need structure and a means of reliable communication, and these businesses offer just that.
3) Wealth, Money, and Finances
Beyond the health effects of COVID-19, the pandemic has had severe financial ramifications on many businesses and households across the United States. As a recession that rivals the 2008 recession looms, many households are trying to find ways to protect their assets.
Many companies have made themselves exceedingly useful during this time by offering financial guidance. By providing expert advice, they’re helping their audience implement practices that will allow them to financially secure themselves before things get any worse. For households, guidance includes:
- Saving money for a rainy day
- Making side income alongside a full-time job
- Investing in the stock market for the first time
- Understanding refinancing to protect yourself against interest rates
Businesses are receiving similar guidance from economic and marketing experts, taking advice on topics such as:
- Transitioning your business online
- Making money from other digital outlets
- How to start a new business from home
- How to become an affiliate business
4) Romance and Relationships
Romance in the time of COVID-19 is a strange thing. You’re likely in one of the few situations:
- Single, finding it hard to date, and struggling with loneliness
- In a relationship and struggling with too much isolated time together
- In a relationship and realizing it’s not meant to be
- In a relationship and doing splendidly, but wondering how to keep things fresh
Dating experts, dating services, and relationship/marriage counselors have come into demand during this time. Dating apps and relationship counseling have become especially important as people isolated at home either struggle with being single or having too much time alone with their significant other. A helping hand in this arena can make life a little easier, either connecting you with the right people for digital dates or to better communicate with your partner inside of your home.
If COVID-19 has done anything, it has made hobbies a much-needed thing for many people. That much time spent isolated at home, unable to go outdoors or into the city, means that many Americans have had to turn to simple interests to keep themselves going. The hobbies are all across the spectrum, but some include:
- Reading and book collecting
- Drawing, painting, or art collecting
- Knitting and sewing
- Cooking and baking
- Music and audio production
- And many, many more
People are seeking outlets that can take their mind off the state of the world, and the hobby industry has benefited greatly from it.
Don’t expect the success of these industries to vanish, either. As the COVID-19 pandemic continues, we can expect these businesses to continue doing well into 2021, even once a vaccine becomes approved and available.
So, if you’re a business that exists in one of these industries, find a way to put in the work, establishing a network and audience for yourself. People are looking for guidance, and you have what they need. Why shouldn’t you reach out to them?
The post 5 Niche Industries That Are Thriving in Covid-19 first appeared on Mind My Business.