Business growth is not something that is usually talked about during the growing global pandemic. However, careful analysis of the job market shows certain industries are actually thriving during this confusing time. With so much negative about COVID-19, it is time to focus on something truly positive. Here are the top 5 online businesses showing excellent growth during the pandemic.
At one time, grocery stores were rarely anything but a place to get your necessities. Whether your family chose to shop daily, weekly, or monthly, most families had a set time they would grocery shop. When the pandemic began and grocery stores began to shut down or limit hours, adjustments had to be made and one of those adjustments was the ability to shop for the same necessities in an online store. Most big chain grocery stores offer curbside pickup or some form of delivery option, so online shoppers no longer need to venture to the store, just to get what they need.
Lockdowns and restrictions on where people could go made it difficult in some areas to even venture out for doctor’s appointments. However, no matter who you are, you will have the occasional sneezing fit or have to refill medications. Hospitals and doctor’s offices everywhere were stretched to their limit for in person visits, so many chose to invest in Telehealth solutions. The telehealth industry has skyrocketed and according to the CDC growth in this sector is up 154% compared to pre-pandemic numbers. Telehealth is convenient for most patients and allows doctors to extend their reach without crowding waiting rooms.
In certain areas where the pandemic has been most prevalent, physical casinos were closed down. Vegas was a ghost town for a significant portion of last year, so online gaming became the go to for fun and entertainment for all those over 21. It is currently estimated that the online casino gaming industry has grown over 50% in the past few years with new casino gaming sites opening each day. Online gaming offers the chance to play your favorite games 24 hours a day without ever having to leave your home. Quoting the online gaming expert, Kristaps Gauja: “Even though casinos are now open in many areas, many people remain at home playing the same games without contending with growing crowds in physical casino locations, so we will not soon see the end to increased online gaming.”
Online shopping is nothing new, but during the last few years. Ecommerce has grown to a $26.7 trillion industry since the start of the pandemic and is showing no sign of slowing down. These days, having an online retail store in addition to your physical location is the ideal way to reach your entire customer base. Online retail stores have allowed brick and mortar stores to maintain their business even while the physical location was shut down. It is difficult to find a single person that has yet to invest at least a portion into the online retail industry. The supercharged online retail market is only going to grow further in the coming years as people have adjusted to using online retail locations.
Home Improvement Sites
One of the more unique aspects of the pandemic was its affect on homeowners. Suddenly, homeowners were faced with turning their home into a school, workspace, as well as a relaxing space. The task often required homeowners change the functionality of spaces within the home and that led to a variety of home improvement projects. Additionally, homeowners no longer had to contend with long commutes, so they were left with more time with their family which led to families working together on a variety of at home projects. The online home improvement market grew overnight 57% and this trend has continued to increase even after many restrictions have been lifted.
The pandemic brought about many changes to every part of our lives and even though much of it was uncomfortable, the growth in these 5 online business genres is encouraging. Online businesses are now more popular than they have ever been before, and more individuals are opening their own online business establishments. Where online businesses will never completely replace brick and mortar locations, since the pandemic has become a part of our lives, we have seen vast amounts of online retail and service businesses thrive.
The current pandemic will be with us for a while, but that does not mean we have to focus on just that issue. Find something you love to do or a service you can provide and turn it into your own online store. Innovation is a part of the human makeup and each one of us have something we can contribute. No matter what you love or are good at, there is an online business for you.