Embarking on a Digital Renaissance: Businesses Flourishing Post-Corona Lockdown in India
Technological advancements have proven to be a savior for many businesses during the recent crisis brought about by the coronavirus pandemic. In India, the shift towards digital platforms is not only sustaining growth but also paving the way for a new era of business prosperity. Let’s delve into which sectors are set to flourish post-lockdown.
Tech-Driven Growth: The Rise of Mobile Apps and Online Delivery Services
The global mobile app market is witnessing a significant surge, with expectations to double by 2024. This growth is reflected in the increased number of app downloads, projected to reach 183.7 billion by 2024, up from 174.7 billion predicted pre-COVID. Consumers are increasingly relying on mobile apps for daily tasks, from online shopping to fitness and entertainment. Additionally, the rise of pickup and delivery solutions has become invaluable, with services like delivery apps (Flipkart, Amazon, Zomato, Swiggy) experiencing unprecedented demand. This not only enhances customer convenience but also bolsters the logistics and e-commerce industries.
Medical Products and Essential Delivery Services
The ongoing pandemic has underscored the critical importance of medical products and delivery services. Hand sanitizers, wearable masks, PPE kits, and virus testing kits have seen a surge in demand as the crisis persists. The medical products industry is poised for significant growth, driven by the need for protective equipment and frequent testing. Furthermore, with many individuals preferring to avoid physical stores, online delivery services are experiencing increased demand. Traditional retail chains are transitioning to offer online ordering and delivery services, making this sector a key player in the post-lockdown economy.
Home Entertainment and Online Learning
The prolonged closure of public malls and cinemas has significantly impacted traditional entertainment sectors. However, the rise of online platforms like Netflix, Amazon Prime, Hotstar, and YouTube has provided a robust alternative. These platforms are essential for home entertainment, as people seek to remain engaged and entertained. Moreover, the disruption in traditional education has led to a surge in online learning platforms. Apps like Byjus and Vedantu have kept students engaged during the lockdown, and many educational institutions are now opting for virtual classes. This shift is not only beneficial for students but also fosters growth in the software industry.
Additional Business Opportunities Post-Lockdown
Several other businesses are also projected to thrive in the post-lockdown scenario:
1. Medical Products:
The prolonged presence of the coronavirus has highlighted the ongoing need for medical products. Hand sanitizers, PPE kits, virus testing kits, and even wearable masks will continue to be in high demand. Companies specializing in these products are likely to see significant growth.
2. Online Delivery Services:
Even after lockdowns are lifted, the habit of online ordering and delivery may persist. Consumers are increasingly acquiring goods from online marketplaces like Flipkart and Amazon, and the use of delivery services such as Zomato and Swiggy is expected to remain strong. This trend is expected to benefit the e-commerce and logistics sectors.
3. Home Entertainment:
The closure of public entertainment venues has accelerated the demand for home entertainment services. Streaming platforms like Netflix, Amazon Prime, and Hotstar offer an immersive experience at home. Additionally, producers are considering releasing movies through these platforms due to ongoing disruptions. With many entertainers finding success on YouTube, the demand for online entertainment platforms is likely to increase.
4. Online Learning Apps:
Many educational institutions have shifted to online classes, and this trend is expected to continue. Online learning apps like Byjus and Vedantu have successfully engaged students, and more schools and colleges are likely to adopt similar models. This not only benefits students but also bolsters the software industry. The virtual classroom format is proven to be effective and is likely to be more widely accepted.
5. Cleaning Services:
The pandemic has highlighted the importance of cleanliness, leading to a surge in demand for cleaning services. Hospitals, businesses, shops, and even households are likely to seek regular cleaning services to maintain hygiene and safety standards.
6. Online Marketing:
The closure of physical markets and travel bans have made traditional marketing techniques less effective. Post-lockdown, online marketing is expected to be more prominent. Brands can leverage digital platforms to reach their audiences more effectively, making digital marketing an essential tool for businesses.
7. Supermarkets:
With more residents turning to supermarkets for essential goods, the demand for local grocery chains is expected to increase. Supermarket businesses can provide convenience and security, ensuring that consumers can stock up on necessities for extended periods without leaving their homes.
Conclusion
The post-lockdown economy in India is likely to be driven by a combination of technological innovation and consumer behavior. Businesses that have successfully adapted to the digital landscape and the changing needs of their customers are well-positioned for growth. As the world continues to evolve in response to the pandemic, these trends are expected to shape the future of various industries.