Business

Thriving Industries In A Period Of Economic Crisis

Covid-19 needs no introduction, indeed neither does the economic impact that the virus has had across the globe. Swathes of illnesses and deaths have been savagely complimented by an economic crisis that has not just cost businesses their existence, but workers their livelihoods too.

That said, there have been some market movers for the positive, with some industries thriving as a result of global lockdowns. Here we look at three of them:

Online Gambling

Online gambling has soared as a result of nationwide lockdowns, both in the UK and broad. Whilst many sporting events were cancelled at the outset, these have since recovered ensuring sportsbook activity is back to pre-pandemic levels. However, it is the increase in the use of online casinos that has seen the starkest gain – Google Trend data showing a 400% uplift in the number of users searching for casino-related terms in the world’s dominant search engine.

Ecommerce & Online Retailers

Whilst high street retail is facing one of the most challenging periods of its long existence, their online counterparts are seeing inverse trends to this. Ecommerce sales across the board have soared, a feat which is likely as a result of people’s shopping habits continuing, albeit in a different form whilst unable to leave their homes. Recent data suggests a 210% increase in online retail transactions, since the pandemic began – a figure that will leave those who decided upon a high-street presence only, scratching their heads at what might have been.

Health & Fitness

With one of the key messages from the British Government being to stay at home, UK nationals have only been allowed to leave their homes for essential purposes only – including exercise. And it would appear that many Brits have used the restrictions and time to follow the good-old new year’s resolution of getting fit. The health and fitness sector has seen unprecedented growth, with demand for services such as Peloton seeing unprecedented demand. Gyms remain closed, so Brits have no alternative but to bring the gym to their own house.

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