As the global pandemic persists, industries are steadily adjusting. While some industries such as tourism and travel are suffering, we are seeing a drastic growth of other industries. This is likely due to the change in global demands in tandem with a major shift of industries towards the virtual world. Keeping track of these trends is crucial as you ideally want to situate yourself within an industry that will ride the wave rather than sink. The big question is: are these changes here to stay?. Here are some industries that have proven triumphant in these testing times —
E-commerce and Retail
With quarantine and social distancing measures being implemented worldwide, it only makes sense that people’s online shopping habits have grown, both with frequency and volume. I am personally guilty for shopping excessively online these past few months, so don’t worry, you're not alone! E-Commerce conglomerates that solely exist online such as Amazon have also experienced an exponential increase in shares due to Covid-19.
This major expansion in the e-commerce and online retail sector has wider implications. It suggests a permanent move of industries towards the digital world. This is great news for people in IT, tech, UX design etc… as the expansion of e-commerce will cause a trickle-down effect into the tech industry.
Virtual Meeting Providers
Virtual meeting providers have thrived during the pandemic, as they allow people all over the world to connect all whilst remaining in the comfort and safety of their own homes! However, with the exponential growth in usage of virtual meeting platforms, comes greater risks over cybersecurity.
Cybersecurity
With the growing dependency on virtual meeting platforms and the digitisation of various industries, our data is more vulnerable than ever before. This is especially prevalent for companies who may not have had enough time or resources to ensure adequate data protection. As a result, IT companies have had to ramp up their cybersecurity measures, which has created a plethora of jobs in this lucrative sector.
With all that said, will the drastic move to the digital world will be permanent? From observing current trends, it is safe to say that a good portion of it likely will be here to stay. Young job seekers should consider this when planning their future career prospects.
The fast-growing technology of virtual meeting platforms has also accelerated the adoption of virtual or E-learning amongst schools worldwide.
E-learning
Virtual classes have now become the norm. At first, many institutions protested this as it was quite a radical change from traditional learning, but it seems as though some people are beginning to adapt. However, opinions regarding this matter are still conflicting, as E-learning may benefit some whist inconveniencing others. For parents of young children, E-learning is likely to do more harm than good. However, university students are now able to study from the comforts of their homes, avoiding the dreadful trudge to their 9-am lecture.
Online courses and workshops have also been popularised by the pandemic. Since people have been granted with so much free time, many are seizing the opportunity to learn a new skill, or develop existing ones that they may have previously neglected.
Food delivery services
As dining out comes to a halt, food delivery services have become integral to us. Consequently, companies such as Deliveroo and Foodpanda have experienced explosive growth in business. To ensure safety, many delivery companies have implemented contactless delivery procedures which are not only safer but arguably more convenient than the traditional face-to-face method. Food delivery companies and restaurants have also incentivised online ordering by supplying customers with attractive discounts and special offers. All these changes are likely to alter post-Covid dining experiences.
Medical Sector- Manufacturing & Pharmaceuticals
An industry that has directly expanded due to the pandemic is medical manufacturing. Millions of masks are being used daily, with many places such as Hong Kong making mask-wearing in public a legal requirement. Medical equipment is also at a high demand to treat the rapidly rising number of patients suffering from Covid-19.
Pharmaceuticals
Pharmaceutical companies are all racing to develop a vaccine for Covid-19, and billions of dollars are being pumped into this industry. Moreover, after a vaccine has been made, research on infectious disease prevention and treatment will still continue, so we can become better equipped for future pandemics. If you’re interested in pursuing a career in the medical realm, pharmaceuticals is the place to be — due to its continuous exponential development.
It is apparent that a wide range of industries are experiencing drastic shifts, predominantly towards the virtual world. What are the implications of this?
For the less tech-oriented, this is the time for you to enhance your tech-skills in order to keep up with the rapid expansion of industries into the digital sphere. For young job-seekers, it is crucial that you are able to predict how industries will change. This is because situating yourself within industries with high potential for growth and adaptability is ideal for maximising your opportunities and career advancement.
Change is inevitable, so make sure you keep up with it!
Written by Natalie Lee
Natalie is a food fanatic, photography enthusiast and animal lover. You can find her either exploring the streets of Hong Kong with her film camera or searching for the next best spot to catch a tan.
