Whilst for many lockdown was a period of great uncertainty and anxiety, with many businesses having to take the difficult decisions to make redundancies, as well as other cut-backs. For others, however, it was a time of great success. Able to adapt and diversify, these businesses have not only weathered a storm none of us saw coming, but have come out the other side stronger than ever.
These are the industries that have seen an uptick in sales as a result of the lockdown.
Even though we were unable to see our loved ones, we were still able to send gifts to show that we were thinking of them. With the whole country in lockdown over Easter and Mother’s Day, not to mention people’s birthday’s, and anniversaries, the gifting industry saw a massive increase in online sales. And it seems we can’t get enough of letterbox flowers. Available for all tastes and budgets, boxed bouquets are a thoughtful reminder to a loved one that you’re thinking of them.
Home and garden improvement
With more than one in four of us furloughed over lockdown, many of us had more time on our hands to do those DIY jobs we’ve been putting off. This saw home improvement businesses see sales for DIY essentials increase. From chalk paint to wallpaper, top-soil to gazebos, businesses who are able to provide interior and garden products, as well as online inspo are set to continue to benefit.
WFH office essentials
Love it or loathe it, working from home is here to stay. Whether it’s full-time or part-time, employers are taking a more flexible approach to their work environment. Businesses like Zoom have never seen such an increase in usage, with them reporting an increase in profits by 353% in their first quarter. Whilst it’s unclear whether it will continue with its stratospheric rise, being able to hold face-to-face calls even whilst WFH is set to stay.
Netflix is perhaps the embodiment of a business that diversifies and thrives. Starting life as an online Blockbuster-esque store, they realised that the future of entertainment was online. Founded in 1997, Netflix launched its streaming site in 2007 – and cornered a market.
And our life in lockdown showed us just how much we need streaming services to keep us entertained – and sane. Similarly, Nintendo saw a massive surge in sales this year, as people sought at-home entertainment.
Adapting business models
Whilst you might think of instantprint as a leaflet and flyer printing service, they were one of the first businesses to adapt. Not only did they launch their safety range, featuring fully customisable hygiene and safety signs, they also introduced face shields and visors, as well as floor tape, desk dividers, and countertop shields.
The ability to understand the needs of customers and how to adapt a business to fit those needs will undoubtedly be the difference between successful businesses, and those that sadly don’t make it through the pandemic.