They say that out of every crisis is born opportunity. The veracity of this saying is likely to meet a stern challenge in the coming months as COVID-19 pandemic grinds the world economy to a halt, threatening to give rise to a crisis the size and scale of which has not been seen in 100 years. But while these are testing times for the vast majority of industries, there are some that have fortunately found themselves perfectly placed to capitalize on the situation. Read on for a list of companies that have managed to cash in on coronavirus.
Amazon hardly needed a helping hand when came to boosting profits, but the coronavirus pandemic seems to have been a gift that has fallen directly into Jeff Bezos’ lap. Government-enforced lockdowns in almost every country in the world has meant that people are resorting to online shopping to an even greater extent than they usually do. While the traditional retail sector has been hit by the unmitigated disaster of downtown shopping districts and malls that have been gutted of their usual shoppers, Amazon, with its monopoly of the e-commerce sector in North America and Europe, is set to see a large increase in profits this year.
No matter how bad the crisis, people will always need to eat. With so many people stuck inside and fearing to come into contact with others, however, going food shopping has become a risk that many would sooner avoid. As a result of this fear, the supermarket delivery app Cornershop has seen its users swell massively in the past couple of months, and its sales figures will translate with a corresponding hike in revenue.
3M is the U.S.’s largest supplier of personal protective equipment (PPE). Due to the failure of our leaders to recognize the scale of the threat of coronavirus, hospitals across the U.S. and Europe have seen a desperate lack of the PPE that is essential for keeping our health workers safe as they bravely do all they can to save our lives. 3M has ramped up production to meet demand and could be set for a handsome windfall as a result.
For many of us, the eternity of quarantine quickly loses its novelty value and becomes a serious drag. Never has a subscription to internet streaming site Netflix seemed more like a basic human right than now. The company’s CEO must be rubbing his hands together with glee as he watches viewing figures go through the roof.
- Angel Soft
Few would have predicted the rush to stockpile that oh-so-essential of household items, toilet paper, which we have seen in supermarkets across the land. Companies like Angel Soft have seen their sales jump markedly during the crisis as people look to ensure that they are no left without the means to do their business in peace.
While the coronavirus crisis has signified hard times for business, there are a few that look set to seriously cash in. It just goes to show that success in business always involves a large slice of luck.