- Date : 18/07/2020
- Read: 3 mins
- Read in : हिंदी
Do you think coronavirus has knocked down every business with its destructive power? Here's why might be wrong
Well-conceived and long-established business models were in for a big shock as the pandemic turned spoilsport. However, amidst the scramble to keep operations afloat, a handful of enterprising online businesses turned out to be lockdown-proof, meeting diverse needs. Some of these platforms fulfilled needs that were necessary for other businesses to survive, while others simply created a space, offering users the opportunity to try out something new.
Here’s our list of the top seven that fought COVID-19 at a different level:
1. Videoconferencing platforms
While videoconferencing and collaborative tools are not new in this digital era, the scale with which various platforms were embraced surely surprised everybody – including the platforms! From schools, colleges, offices, personalized coaching, webinars, and livestreaming of graduation ceremonies, the use cases turned out be creative and utilitarian.
2. Local delivery apps
Local delivery apps took on a different role during the crisis, serving communities and delivering medicines, pet food, and groceries to communities that were cut off from retail stores. With strict lockdown measures in place, local deliveries bridged the gap and established a new shopping experience.
Tutors who offered special one-on-one coaching in subjects or sessions for multiple participants were in great demand. Many employees who wished to upskill (or pick up a new skill) found the time and the flexibility to work from home and master a new skill – coding, image editing, language, photography, etc.
4. Fitness instructors
The lockdown unleashed a surge in demand for stay-at-home fitness programs. With gymnasiums shut, home workouts and training were the only options. Individuals put the extra time to good use, working out under guidance from instructors via apps that helped measure performance and improvements.
5. Streaming video content providers
Streaming video content providers witnessed a surge of subscribers, at levels unseen so far. With everyone remaining indoors, content providers scaled up networks and bandwidth to meet the needs of families who took to binge-watching to fight boredom. OTT media services never had it this big, ever.
6. Local grocery stores
Neighbourhood stores were the go-to option during the lockdown as large departmental stores were not permitted to operate. Standalone shops did brisk business, with the added advantage of being able to handle customers easily, eliminating the overcrowding seen during peak hours. What’s more, with a large number of customers choosing to make bulk purchases, local grocery stores certainly scored big.
7. Edtech/learning apps
The smartboards and advanced tools in instructor-led classroom sessions gave way to Edtech platforms or learning apps that became the channel for online instruction. School-going children adapted to the change quickly, enjoying the added element of videos and images that made classes more engaging and fun.
The speed with which the pandemic halted normal activities was unprecedented, but many businesses and platforms found ways to keep the wheels turning. The digital era came to the rescue of the stranded, with swift improvisations that offered some respite from the lockdown. While most businesses had to count the days and wait till the lockdown was lifted, some others found that the lockdown offered a ready-made business opportunity. Are you aware of these government initiatives to help MSMEs fight the economic repercussions of COVID-19?