With the onset of a global pandemic, there are a few trends on the rise and a few on the low. Wherein the beginning of the year expectations were pegged on certain inflations across the global board for a predetermined set of trends, the drastically eventful 1st quarter of 2020 has shifted tables to imaginative possibilities. Here is a list of categories that have seen a rise in popularity and impact with the arrival of COVID-19. Some of these were future business models, preponed to the present while other industries were at the bottom of the discussion list until now.
Homeschooling/Online courses
Coronavirus being a highly contagious disease, nearly all public and crowded spaces are under a lockdown or closed until further notice. The education sector is no exception to the ordeal either. The shift from in-person communication to the virtual platform was an overnight transformation to curb the spread of the virus. This change brought about a newfound enthusiasm towards the prospect of homeschooling and online learning. A gradual surge in the registration for online courses, both free and paid is one of the more prominent trends on the rise in the past few months. People of all ages have grown a keen interest in either learning new skills or developing the old with the help of online learning. Schools and universities have adopted the virtual learning plan in good stride and continue to show an increase in productivity level from the learning body. Research shows that there is an equal, if not greater volume of search stats for homeschooling by parents as it would be during summer or winter vacation time for the kids when they are at home.
Travel & Tourism
One of the sectors hit the hardest by the global pandemic is the travel and tourism industry. With social distancing, closure of tourist spots and grounding of flights, traveling for leisure is all but nonexistent at the moment. However, not all is lost as this is closely followed by the rising popularity of the travel insurance industry, scheduled travelers want to be insured in case they fall sick, while others want coverage for their cancelled plans. Either or both scenarios have led to the spike in searching for information related to travel insurance and how individuals can benefit from it. Virtual travel, on the other hand, has become a new ‘stay at home and travel’ hobby for the public. Famous tourist spots and popular destinations have made the option of virtual visitation a possibility, allowing people to explore the world from their flatscreens and 3D goggles.
Entertainment
Excess time that was viewed as a luxury previously is now available in abundance, and people are grappling to fill it with different means of productive and leisure sources of entertainment. Streaming services like Netflix and OSN and online multiplayer games have replaced the norm of “hanging out with friends”. People are looking for ways to distract themselves at home from boredom by drawing attention to their forgotten hobbies or finding new ones to entertain themselves. Online shopping, on the other hand, for commodities including basic needs and leisure products, is the hype and on the rise. Businesses with online and delivery platforms seem to be benefitting and faring well in these tough times.
Finance
With the global economy taking a massive and unpredictable hit on many professional and personal levels, there is the aftermath to be dealt with that comes in the form of financial strain and large-scale unemployment. Businesses across the board have taken a hit in one form or another, many of which are left struggling to stay afloat. The frontline workforces for these businesses are the first to feel the blow of the damage caused by the pandemic on the professional front. Unexpected layoffs and pay cuts have left people nursing the brute force damage on their income and mental wellbeing. Search results show people looking to file for unemployment and all the information relating to it, closely followed by the concept of investment and savings. Budgeting if it was not already, has now become an acceptable norm in every household.
