Chaotic times bring out drastic changes. In terms of business, brands were put under pressure, and the ones who utilized this time excelled in their industry. As the world dealt with the impact of COVID-19, everyone had to pivot and adapt to the limitations. High touchpoint businesses were faced with creating safe interaction distances, implementing more technology, and adjusting to safety practices.
Covid gave rise to everything at home: tech, entertainment, cooking, fitness, etc. While people spent more time at home, their needs changed and things that they had access to did as well.
The following is a list of brands thriving:
Amazon
It’s no surprise that Amazon became the go-to service to stock up on essential home goods (and just about anything).
Tesla
With more efficient production, Tesla’s tech outstood its competition for battery-powered cars.
Paypal
Paypal increased its relevance with new capabilities for merchants to handle contactless transactions online and (safely) in stores.
Streaming services: Netflix, Hulu, Amazon Video, Disney Plus
With infinite time and movie theater closures, subscriptions to online video streaming services around the world reached 1 billion in 2020, a new milestone.
Shopify
Shopify surpassed eBay to become the second-biggest e-commerce group after Amazon by US market share last year. (The BEST platform for small businesses IMO!)
Zoom
Zoom is the new symbol for the “work-from-home” boom of 2020. Not to mention, creating iconic backgrounds for the perfect virtual work environment.
Adobe
Its cloud service activity has increased for content creation, with beginner and advanced designers using more products outside of Photoshop.
Spotify
Music listening habits have changed with fewer people driving around, however, meditation & wellness podcasts, and instrumental music & chilled-out tunes became popular.
Chewy
Chewy witnessed a spike in orders as pet owners have been stocking up on food, treats, and other supplies under lockdown.
Peloton
The peloton rode the Covid-wave, supplying millions of bike subscriptions worldwide.
Additional mentions:
- Tik Tok (and any brand that went viral on here!)
By June 2020, TikTok’s total number of U.S. active users grew to more than 91 million. More than 100 million Americans are monthly active users today, with more than 50 million daily U.S. users. If you’re an entrepreneur, get on this app ASAP to grow organically!! - Hand sanitizer
Hopefully, this one stays. It’s crazy to think how unsanitary things were before…
There is a big value in recognizing the impact of COVID and adjusting to implement tools to allow for timeless transition. Reflecting on the lessons and benefits of this pandemic will allow your venture to withstand the uncontrollable circumstances. It is always important to stay in touch with competitors, world issues, and innovations affecting your industries.
Sources:
https://www.forbes.com/sites/rohitarora/2020/06/30/which-companies-did-well-during-the-coronavirus-pandemic/?sh=49e698d7409f
https://www.ft.com/content/844ed28c-8074-4856-bde0-20f3bf4cd8f0
https://www.marketwatch.com/story/global-streaming-subscriptions-top-1b-during-covid-2021-03-18
