While economies around the world were in shambles, some industries and jobs remained strong, adapting and even thriving despite global shakeups. Unlike so many others around them, they’ve proven themselves to be pandemic-proof and capable of withstanding lockdowns and isolation. Some of them have even capitalized on the pandemic restrictions, gaining new audiences and increasing their sales.
Observe the growth of the following industries:
A large real estate boom came over the U.S.A. with many people performing an exodus out of busy cities, preferring to go out into the suburbs. People were buying houses to such a degree that a housing crisis occurred and only recently started showing signs of slowing down.
Historically low levels of mortgage rates also drove the spike in demand. People whose financial concerns have previously been hindered suddenly found their dream homes or even just their own homes within reach. Some of the biggest demographics to take advantage of the real estate boom are millennials, many of whom have never bought property of their own.
The real estate market has kept up admirably. Realtors and agents have been working harder than ever to handle the influx of buyers. While the market has shown signs of stabilization, real estate continues to be one of the thriving pandemic industries, experiencing record highs.
Retail had been experiencing fantastic growth even before the pandemic, but it grew almost exponentially in the past year. It ballooned to a $4.2 trillion market as global lifted to 38%. People have been ordering their essentials and necessities online instead of going in person to stores.
Retail businesses around the company made sure to capitalize on the opportunity by hastening the digital transformation of their enterprises. They changed their website to become more user-friendly, opened up online storefronts, and ensured that customers could have as much of the same experience online as offline.
This care towards the customer experience and is available during need contributed to the swell in e-commerce. All this, in addition to the accessibility of digital tools, allowed e-commerce companies of all sizes to continue business as usual despite the upheaval.
I.T. and Digital Services
As smaller businesses started opening up online directly, without physical locations, the established stores changed tactics—they took the time to implement company-wide digitalization. This is why Amazon Web Services thrived, with the businesses suddenly leaning more towards I.T. and sought better hosting for their websites.
Retail businesses looked to different platforms that allowed them to handle businesses everywhere and unify their processes. They looked to companies that provided them with ServiceNow integration and other channels to streamline their work, improve efficiency, and take it online, solving many pandemic-related issues at once.
And in the field of digital entertainment and communication, things have only grown more in-demand than ever, with Apple posting a record $59.6 billion revenues in the third fiscal quarter of last year alone. Facebook became the world’s socialization hub, with a staggering 3.3 billion users online. The tech companies boomed bigger than ever as people sought ways to reconnect and find entertainment while isolated.
The most successful out of all the industries that have thrived in the pandemic are the pharmaceutical companies that remained under pressure and scrutiny worldwide. They produce the drugs and medication that aid the treatment and recovery of COVID-19 patients. Others have been working round-the-clock to perform studies and develop the vaccines that are now leading the world towards reopening.
As a result, these companies are now common household names to everyone. The pharmaceutical market worldwide is now at a tremendous $1.250 trillion growth. It’s expected to double within the year, showing that there are no signs of the pressure or demand abating.
Pharmaceutical companies have made moves to go even further than ever. There are announcements of new, groundbreaking developments in the field of medicine. The first malaria vaccine has become approved by the W.H.O., and the success of the COVID-19 vaccine with mRNA vaccines leads to talks on vaccines for diseases like cancer. Constantly developing and developing new methods, the pharmaceutical industry continues to evolve and is now expanding its reach to where it can.
These industries are some of the most successful, thriving and finding ways to overcome the pandemic and seek new opportunities. While all businesses are advised to “strike while the iron is hot,” there is something to be said about thriving amid adversity and breaking new ground. These industries show that there is still stability in the business world and that it is possible to overcome challenging years.