Prospecting Ideas - 10 Industries Less Affected by Coronavirus
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10 Industries Less Affected by Coronavirus

10 Industries Less Affected by Coronavirus

During these trying times, many companies have had to completely overhaul their business practices to survive. Adaptability has been the key to many companies’ abilities to not just stay afloat but to remain successful. For many, this has meant adding new products or services or prospecting in new industries.

There are a handful of industries that have been fortunate enough to actually see gains since the beginning of the year. Businesses in following ten industries are not only in a financial position to pay for outside services but may actually need additional support to meet or maximize the potential of the demand they are now facing.

Healthcare

On the literal front lines of the fight against this pandemic, it should be no surprise that at least some segments of the healthcare industry are not only unaffected (from a business perspective) but that it’s also — for lack of a better word — flourishing. Not only is there the obvious need for increased numbers of workers to help with patient care, but huge sums of money are being funneled into the parts of industry responding to the COVID-19.

Insurance

The insurance industry is largely impervious to the ups and downs of the economy. Sure, the government might have required all providers to include COVID-19 care in their coverage and wildfires in California will increase property damage claims, but these payoffs have been offset by reductions in claims for elective surgery and accidents.

Telecom

People are spending significantly more time at home and relying on digital tools to keep in touch with friends and loved ones. Person meet-ups have to be dialed, which opened up the opportunity for the telecom industry to boom. Let’s not forget about the droves of people working from home and connecting with business associates through video conferencing. It’s actually put such a strain on the infrastructure, we’re likely to see a boost in spending to improve infrastructure.

Video Streaming

With so much time spent hunkered down, people are constantly looking for new ways to entertain themselves at home. Video streaming tops that list since these services are easy to access, you can take them anywhere, and they’re typically affordable.

Retail

This recommendation might seem a little confusing, with the news of so many shops permanently shuttering following the shutdown. But with a slew of people seeking retail therapy to help subdue their stay-at-home woes, digital retail, in particular, has seen a surge. There are opportunities to help traditional retailers get online and help with logistics.

Food Suppliers

While restaurants were hit hard — and are still struggling to maintain operations — grocery stores, appropriately deemed essential businesses from the start, saw major upticks in sales. Today, more people are staying home to prepare their own meals — not to mention, there was some serious panic-induced stockpiling earlier this year — which led to grocery stores seeing much larger numbers (both people and sales) than ever before. Specialty kitchenware businesses have also benefited.

Public Sector

With the loss of so many jobs brought about by this virus, surprisingly there were also some jobs being created as a result, namely in the public sector. Additional workers have been needed for services that suddenly were hitting critical-mass numbers, like unemployment claims processing.

Education

The back-and-forth struggle between whether to keep schools open or closed for younger students has dominated the headlines. But for those who find they now have more time on their hands, seeking continuing and higher education through online courses has been one way to make the most of this situation. In person fitness classes and self-development courses have also gone online. There will be new opportunities to help these businesses get the word out.

Financial Services

As the world proceeded with shutting down, it was only natural that many began to worry about their futures, and in particular, their financial stability. For some, that meant seeking out professional advice to help ensure they had a plan in place to help keep them afloat should the unforeseen occur. Accountants are also as busy as ever helping companies sort out the implications of the Payroll Protection loans and tax deferral options.

Pet Services

Of all the industries to see a boost during a pandemic, this is the most heartwarming. People emptied the shelters before the lockdown and being at home much more has made everyone even more in tune with the needs of their companion animals. While the lockdown temporarily hurt some pet services deemed as non-essential, dog walkers and daycares are back to work and busier than ever.

Which of these industries might be looking for your products or services? Happy prospecting!

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