3rd July 2020: The Covid-19 pandemic has impacted economies globally like no other event that experts can recollect since the Great Depression. Some of the strongest economies around the globe are struggling to cope with the situation in the wake of an unparalleled demand shock and a shutdown of all critical activities that majorly drive economic growth. Covid-19, undoubtedly, has been quite bad for some businesses. But for some sectors, the outbreak has opened a window of opportunity.
Let’s look at some sectors that witnessed growth during the lockdown –
Stock Markets: While technology may have disrupted a lot of businesses but technology adoption in the broking industry has gone quite well for broking houses. First time investors are looking at an opportunity where they are ready to buy stocks thinking that markets will have a strong rebound. One of the biggest reasons investors decided to tap the stock market as they stayed indoors and had additional time at hand to follow the stock market and understand the subject in-depth. Leading stock broking houses like Angel Broking, Zerodha, etc have witnessed a spike in their clientele which in fact, has also increased their trading volumes quite some.
OTT Platforms: As the name suggests, these platforms offer content directly to viewers via the Internet.
The current Covid-19 pandemic and the nationwide lockdown has not just stalled industries and economic activity, but has also led to change in behavioral patterns in people, including that of digital consumption. The market has revolutionized considerably in a way the content is created, distributed, and streamed. People constantly want a variety of content, and OTT caters to this demand magnificently with the perennial additions of varied content. OTT platforms like Promodome, Hotstar, Amazon Prime Video, Zee5, etc saw a significant rise in viewership and app downloads during the lockdown period. Innovative Digital Platforms: With the recent ban on Chinese apps, Lifestyle community-commerce platform Trell and audio platform Khabri, have seen momentous growth in downloads and user signups on their platforms. Users are now looking to explore innovative apps especially the ones that are ‘Made in India’ and are showing support towards the government move towards banning Chinese applications.