The coronavirus has changed the job market almost overnight. The global outbreak has seriously impacted the whole economy and job security. It will have long-lasting and game-changing ramifications. There will be some sectors, companies, and workers that may benefit from this near-tragedy. Unfortunately, we will also witness industries that are severely harmed. People in these areas will lose their jobs and have extreme difficulties finding the new ones.
The government has ordered all of us to remain indoors and self-quarantine to stop the spread of the coronavirus. Companies have asked their employees to work from home. Large gatherings of people are not permissible. Due to all these restrictions and fear, people are not traveling, taking airplanes, dining out, staying at hotels, or attending concerts and sporting events. These current trends will continue even after we defeat the outbreak.
Here is where the jobs are and where they will be in the future:
The big winners are the online companies that don’t rely upon brick-and-mortar locations, healthcare providers, supermarket chains—especially those with a robust online presence— pharmaceutical companies who are working on cures for diseases, technology companies and services, such as Zoom, that cater to people working from home.
Since the schools are closed and everyone from elementary school to college is stuck at home, they are turning to online video games. Kids, as well as some adults, are playing the games in record numbers to keep entertained, especially in the absence of sporting events.
It’s also a way to interact with friends and family to maintain social relations, while also practicing self-distancing. As long as this trend continues, jobs in this space are very safe and will increase to meet the demand.
According to the Financial Times, “Tech companies are still hiring feverishly as they move to take the advantage of a world shifting increasingly to digital as a result of the coronavirus, despite mass lay-offs elsewhere and growing concerns over plummeting global markets.” The FT also claims that California alone has roughly 15,852 jobs open.
People working in these fields may find jobs available and strong demands from some companies. For example, Amazon is hiring 100,000 workers due to overwhelming demand. As people are working from home and unable—or unwilling—to venture out of the house, Amazon is the natural go-to choice for shopping. Amazon’s gain is the loss for small-to-midsize retailers.
Pharmaceutical companies are inevitably playing a large role in the crisis. Gilead, which owns the rights to treatment drug Remdesivir; Moderna, actively working on a vaccine;, a major supplier of testing kits; and Fujifilm, with existing treatment drug Avigan, are all poised to benefit
FMCG shines amid crisis
FMCG sector has become another key economic player during the crisis period as demand for many household goods have jumped tenfolds over the last few days, especially the days leading up to when Prime Minister Narendra Modi announcing a 21-day lockdown in India.
The FMCG sector has performed fairly well on the domestic stock markets amid widespread panic-buying the country. All companies in the sector including Nestle, HUL, ITC, P&G, Godrej Consumer, Dabur, Amul, and others are set to gain big amid the sudden gush of demand.
A Nielsen report shows that there has been heavy stockpiling of not only essential food items but also indulgence items like biscuits, chocolates, salty snacks, and cookies.
But there are challenges for the FMCG sector during the lockdown as well. All of them are facing production and supply chain challenges as the lockdown has led to reduced staff, leading to delay in delivery.
With the general public practicing “social distancing” and many Indian states closing restaurant dining rooms, more families are stocking up on goods and eating at home. This has led to large and small grocers alike to see surges in customer demand.
The e-commerce and online grocery delivery service have also become a key sector in the wake of the novel coronavirus pandemic. As people have been locked down in their homes due to the government’s order, the delivery of essential goods has been allowed by the government.
Some of the companies whose businesses are expected to boom during the period are BigBasket and Grofers who have witnessed a mountain of orders over the last few days before facing severe disruption due to the announcement of the lockdown. They have now started delivering all essential goods.
Many online grocery delivery services are now being joined by major e-commerce companies Flipkart and Amazon, who are delivering only essential goods in the wake of the Covid-19 pandemic. It won’t be surprising if all these companies see an exponential rise in their profits during the period of lockdown.
Many of the top brands for meal preparation and delivery are skyrocketing due to people spending more time at home and less at restaurants. Taking advantage of this trend, several small businesses that offer meal prep and delivery are also seeing increased demand.
As people around the world are blocked from leaving their homes, products and services will need to be delivered. launched the Green Channel initiative on January 25 in response to the increased demand for protective clothing and medical supplies, especially for front-line medical staff
With many consumers afraid to leave their homes or being advised by state governments to shelter in place during the coronavirus crisis, professional delivery services have stepped up to make sure goods can be delivered to homes and businesses. While nationwide food delivery services and corporate retail deliveries have been the largest beneficiary, local delivery services such as Grofers, Swiggy, Big Basket are also seeing strong demand.
Toilet Paper with Your Takeout
While an increase in takeout orders may sound obvious to anyone living in a jurisdiction where restaurants have been forced to switch to takeout models, even restaurants outside those areas have seen a huge increase in delivery orders, with a national increase 139x the norm. Long-time takeout staples like Thai restaurants, pizzerias, and fast-food restaurants are doing particularly well, with a food court and buffet options down significantly. A few restaurants are getting creative and delivering their customer’s toilet paper rolls with their takeout. Not only does this engender repeat orders and positive Yelp reviews, but it’s also a great way for restaurants to disperse a surplus of toilet paper since they no longer have customers using their bathrooms. Many online grocery options, such as Instacart, BigBasket Peapod, and retailer-specific delivery options have become so overwhelmed that they’re frantically hiring more workers. In another interesting twist of corporate creativity.
Video conferencing start-up Zoom has benefited massively. The company’s sales and share prices are already up over 50% in 2020. Webex from Cisco and Skype and Teams from Microsoft are also seeing major upticks in sales. Most are offering special deals for their conferencing services during the outbreak.
Entertainment streaming and gaming
Platforms like Netflix, Amazon Prime Video, and Disney+ all report increased viewership. Online gaming platforms are also experiencing record volumes.
There has been a surge of content consumption among individuals after the lockdown due to novel coronavirus was announced in India.
There has been a sharp spike in online content consumption and internet usage during the first week of the lockdown, said the Business Today report quoting a consumer survey. Some of the bigger players like Netflix, Amazon Prime, and Disney Hotstar are also expected to see a rise in profits during the period.