Well, was it unexpected or expected? If any, for the majority it was unexpected, THE PANDEMIC OF 2020. Covid-19, a virus that shook the entire world. The biggest crash in every sector after the H1N1 Influenza of 1918. As for businesses, how can we say it didn’t affect as the entire world came to a stop even if it was for a brief period. It did heavily and the effects are persisting. Business sectors from top tier to the most root level, an impact, a fall or a rise. Let’s dive briefly into the topic.

THE PANDEMIC –Covid-19 hit the economy on a fine day of talking sarcastically but in2019, “The world economy as going through a synchronized slowdown”, said the IMF. And with the coming of strict lockdowns and supply shortages, markets crashed as the result of decreased stock and money value across the globe. Termination from jobs, huge disclosures of startups, losses in trading shortage of supplies and goods, shortage in healthcare services were some problems at the start of 2020. People going out of jobs were huge as most businesses went online. Reports of death by suicide arose as businesses went into enormous debts and losses from which the entrepreneurs and their families couldn’t recover from. The field of entertainment went to a halt. Stock markets crashed. Governments disrupted. Sectors of education even came to a halt. Every sector in the economy went through drastic changes. And all we know is of all the things that happened started the wave business went through a vast change in the pandemic.


EFFECTS ON THE STOCK MARKET – The hailstorm or turmoil in the economic sector had brutal and ranging effects on stocks, bonds, crude oil and gold markets. The crude oil war between Russia and Saudi Arabia even caused the collapse of crude oil and its stock markets to crash in March of2020. It was said to be the greater financial crisis. But the change happened to all. Stocks in airlines went into huge losses, and legendary investor Warren Buffett suffered with huge losses on dumping his entire holding of U. S airline stocks and said that the world has changed. Stocks on travel and tourism had the greater impact as of strict lockdowns.

These were at the start of the pandemic and 2020. But the market made its rise as the year went by and as investors looked forward to the vaccine. This helped new and young investors to enter the game and then investing. Existing investors pulled out stocks which likely risky like airlines, tourism, and cruise then invested on businesses which may outgrow the pandemic like healthcare, online services, medicine and social media.

The world economy may go through a synchronized slowdown, as the IMF said, but the stocks in markets were rising and still going on, making analytics in awe. Still no idea of hat will happen, but one thing is for sure. Even if the comeback in stocks is not rising fast and better in graph, it will happen in time

THE ENTERTAINMENT INDUSTRY - In business, entertainment is a major sector. Being the most used medium, it also had huge downfall and drastic changes

Cinema/Music - Because of the pandemic sectors like cinema and television went to a halt. Gatherings, concerts and parties went to a stop, and it was a huge downfall in financial terms. Film sets were closed, making huge losses to investors and studios. Hollywood companies like Warner Bros. and marvel Studios few of many postponed their release dates gaining huge losses. But the online sector had a tremendous boom. OTT platforms like Netflix, Amazon Prime etc. had an enormous growth of consumers and subscribers as people were confined to their homes binge watching t. v shows and movies. Most films scheduled to be opened in theatres were released online, gaining losses but not huge. Piracy in this sector also grew as people were up to it too.

Music concerts even were held online and people slowly started a liking in it. Live living room concerts were held, and even film festivals were held online. But as the strict policies of lockdowns faded away because of introducing vaccine and opening of cities, events come back to normal, but slowly. Theatres were open and gatherings occurred, but only with strict guidelines. Still, nobody knows how far normal is as people became a part and started a liking to online medium and more waves of the virus are hitting. Or is this the new normal?

SOCIAL MEDIA- Social media had a huge rise in the pandemic, spreading news and content worldwide. Social media influencers rose and were the new celebrities and millionaires. People even started business through platforms like Instagram and twitter selling goods and information. As people were always hooked to their phones or laptops, companies pushed online advertisements more raising revenue and gaining profit. A boom in YouTube lifestyle occurred as new and innovative contents were shared. Youtubers started making money by selling facts and fictions mostly fiction. But was a major significant change in the online sector. People made new and innovative contents every day. Competition raised and even in the minds of an average viewer on YouTube had the idea of starting a new channel and making money. Even after the lockdowns and decrease in the virus, even if it’s slow non online companies are nowadays thinking about making money through online platforms and even change the strategy of doing business wholly online

EDUCATION AND HEALTHCARE
Education and healthcare is an extensive business of the 21st century. There is no debate in that, as it is one of the major sectors making money. Schools and universities were closed as a part of the lockdown procedures making investor in the education sector and entrepreneurs confused of what to do, but everything happens for a reason and the reason was for a change, ONLINE. Before 2020 not everybody was online but the pandemic caused education to be online too. It forced officials and students to be online too. Schools and colleges took classes and exams through online mediums like Google meet and Zoom, even for overseas students. Existing online education platforms made more revenue than ever before. As the medium was huge and accessible to most new courses and new consumers of this sector did indeed rise. Even if it may not give the students and the teachers the feel of the traditional way, revenue was made of it. People were now adapted to these alternative ways, too.

Healthcare in terms however we look into itis not accessible online fully as close contact case in emergencies are needed in most cases. After all, a computer cannot do surgery online, Right? Well, it’s Yes and No. The pandemic showed vast changes in the healthcare sector as new technology powered with AI came. Doctors and professionals were talking and prescribing through screens and with the help of AI. As the vaccines were introduced, more and new investors are investing in healthcare, thus rising its base in financial terms.

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THE RISE OF E-COMMERCE

The monumental shift of businesses from offline to online.
Shops, Malls, Markets all closed. Restaurants, cafes, bars all closed. Textiles, Local vendors, Exhibitions all too closed. No other way than being online for the consumers and the vendors/sellers. Consumers and vendors confined to their homes. This what caused the rise of online commerce in the pandemic's time.

As people were being home, shopping and selling goods online became in popularity. Online stores like Amazon, E-bay etc. all got benefits as more consumers were being a part of the consuming process. Online trading became a trend as products were also sold and bought through social media platforms. People started being online and started shopping for products and services, even if it was not an essential need.

Local vendors even started taking their business online as fresh ways and technological advancements were introduced post pandemic. Their consumer ship also shifted from being local suppliers to global dealers. Kerala has now introduced the KFON initiative, which makes internet accessible to all the citizens of the state, a tremendous example in the changing business of the pandemic. Movies, Books, Music grocery, Food, Clothing everything a person can get their hands on from salt to even illegal drugs is now available to the public. Everything was available online before too, but now it’s accessible to everyone too’.

The sector may change, Stock markets may vary but as a viewer of all of this from the outside, all the what’s happening in business via online medium is the biggest change happened and is still happening in the pandemic

What are your thoughts on various business sectors after corona? Comments and thoughts are welcome, as always.