IBIS World recently published a May 2020 report outlining the effect of the COVID-19 pandemic on business industries.
We, living in the new 21st century have already seen huge disruption to how we work and live. Unfortunately, the arrival of COVID-19 is forcing even faster change to the business environment. Every business is affected.
Here are some of the highlights from the IBIS World report:
Demand – increase
- Supermarket products sales increase (who hasn’t seen empty shelves)
- Cleaning products
- Medical equipment
- Medical services
- Take-away food
- Work from home products and services (computers, laptops, furniture)
- Cloud software (e.g. Zoom video conferencing)
- e-commerce
Demand – decrease
- Fuel prices (lower demand as people stay home)
- Car rental
- Car sales
- Real estate listings and sales
- Real estate agent services
- Settlement (conveyancing) services
- Mining, lower demand for raw materials
Demand – suffering greatly
- Airlines
- All other people travel (coaches, buses, etc)
- Hotels and accommodation (including Airbnb)
- Tourism
- Restaurants
- Universities – foreign students
- Cinemas
- Sports
IBIS World report:
https://www.ibisworld.com/industry-insider/coronavirus-insights/coronavirus-update-industry-fast-facts/