COVID 19: Winners & Losers
Covid-19 has affected millions of business but yet there are some technology driven industry to benefit from it because of the change obligated on the society to rely on technology henceforth.
Terror has struck the entire human race with the COVID 19 pandemic. People have quarantined themselves at home, and the whole world is undergoing a lockdown, yet the virus seems to be winning the numbers.
Such a catastrophe has not been faced in recent history. Today, we will be discussing who has/can take advantage of Coronavirus and who is facing the most loss.
Without further delay let us get to the topic.
Those Who Will Benefit
Everyone agrees that this pandemic has brought nothing but disaster upon us. Still, there are some thoughtful people, astute enough to use the lockdown more as an opportunity rather than captivity.
The Online Communication Sector
All those companies running online messengers, voice room, conference call software, etc. have been benefiting the most. These companies have experienced almost an 80% spike in their business graphs.
The reason is that most of the people are connecting in such times of catastrophe through the internet. Not only casual connections but business and educational interactions are also taking place online.
Around 93% of businesses around the world are being managed online, and a similar situation prevails upon the educational sectors. Virtual classes were considered boring and useless, but now the entire educational industry has moved onto the internet.
Another sector benefiting is the cloud services which are helping the business as well as educational institutes in handling their data. Every business and classroom have their cloud accounts to manage their data and statistics better.
Media, Social Media, and Video Sharing Platforms
We discussed above how the activities of daily life have been shifted to the virtual world, but have you pondered on how much free time people still have and how they use it?
If not, let us show you. People were already addicted to Social Media, Media, and video-sharing platforms such as YouTube. But now, as they are quarantined in their houses, guess what, they have all the time in the world.
Celebrities are doing a pretty good job of engaging people, but the public has crashed on the internet. The average usage hours on each social media platform have significantly increased in almost all regions of the world.
Millions of videos are being streamed on YouTube and similar websites each second. This has provided the platforms with a business opportunity more exceptional than any received in the prior times.
No matter if there is a sea of videos on YouTube or a Blackhole of posts in social media or tons of shows on the TV, people want more. This is where streaming services, for example, Netflix and Amazon Prime, make their money.
Thousands of people have bought subscriptions and are now watching their favorite series when they have nothing else to do. Such an augment in profits is a game-changer in many businesses.
Same is the case with other such services. They have experienced significant growth in users as well as their profits and it is expected to increase till the entire situation calms down and a treatment for Covid-19 is found
When the people can’t spend money in the clubs and pubs they are more likely to spend time buying non essentials stuff from online stores.
The online groceries and essential service providers such as Amazon, Dmart, Zomato etc are seeing a surge in the orders
On-line shopping delivery carrier Dmart in India suspended its website, telling clients orders exceeded its capability to supply. The firm has stated it will fulfil its orders if ordered in bulk or group orders exceeding a value of 160USD
Carrying and spending of cash has already reduced with the likes of Visa, Master, Amex etc. Covid-19 has forced people to make more use of Electronic payment and physical cash might soon become a history. Many local stores have already adopted the technology to accept electronic payments.
Those Who Are at Loss
Along with this unbelievably profitable side, let us now have a look at the miseries caused by this virus. Not millions, but billions of people have suffered from the damages with respect to the virus.
The Daily Wage Earners
The labor sector is at the most disadvantage during this pandemic. The nature of their jobs would not allow them to provide their services online.
While other people from the tertiary sector, such as bankers and doctors, will have resources jacked up even if they do not work. The laboring industry suffers from poverty, and they usually barely have any savings sufficient to support them in such a crisis.
Small Business Owners and Freelancers
The uncertainty of the impact of the Covid-19 on small businesses and freelancers is terrifying and likely to be massive. The coming dark future is forcing the entrepreneurs to take drastic steps trying to hold their daily operations to cover the fixed costs. The businesses which already had irregular incomes when in the good times, will be confronted with a complete standstill in their income. A small company’s average monthly cost is believed to be approximately $5,000, where most of them have already elapsed with their working capital. We have already started witnessing salary cuts, mass layoffs & many closures. Large economic benefits and revival packages are expected from the government to bring this sector back on track.
Those who lost their jobs just before the pandemic would be in a very, very bad situation right now and in desperate straits as no one is hiring at this stage. They have a family to support but no position to create the means of doing so.
Furthermore, the homeless, or destitute are also suffering tremendously. When the world is put under lockdown, where are such people supposed to go? Even if the governments try to compensate for them in any way, they cannot support every one of them.
Hence, leaving them at the mercy of society, some get fortunate enough to find shelter and food while others suffer in misery. If the virus does not kill them, hunger will, so stand for them and support the destitute.
The Women at Home
Among all others, if one group is suffering most harshly it is the stay-at-women. Those who are self-dependent are saved from the extremities. But those married, and especially homemakers are at considerable risk.
Not only have their daily chores massively increased, but they also have to cater to the needs of the people at home. Adding to this they have to bear with the anger and even worse - the violence from frustrated men. Asian women are especially suffering more in this scenario.
Domestic violence, marital rape, disrespect, yelling, and other activities have become a lot more common, and these women are helpless subjects. But they have no expectations of receiving any form of help due to societal norms.
The men who dare to do this do so solely due to the support – or lack thereof – of society. Now, we are not implying that all men are like this; there are some who stand up for the women as well. Unfortunately, they are in the minority. While this is not the time for social commentary, it is a point of note due the increase in domestic violence and abuse.
The Entire Human Race
In the end, we cannot ignore the calamities caused by the coronavirus. It is the entire human race that is at loss. The success of a few businesses can not cover up the damage of the whole human species. We are all together in this. The selfishness of the few refusing social distancing and wearing masks just gives power to one of the most destructive forces of recent times.
The lives lost cannot go in vain; we must stay healthy and stay together until the Coronavirus vaccine is found. We cannot give up on this, humans have faced worse situations, and we will surely stand up to this.