Business Marketing

Online Businesses That Did Amazingly Well Even in Pandemic

Are you interested in learning more about the internet businesses that are thriving in the face of the pandemic?

Despite the fact that COVID-19 has been a disaster for many industries, such as travel, it has resulted in the growth of many service-based enterprises, such as healthcare, entertainment, education, and much more.

During the crisis, customers’ sudden demands for certain of these vital services contributed greatly to the expansion of these enterprises. These firms were able to shoot with their arrows even in these unforeseen conditions by providing customer-centric products and services.

We’ve identified the greatest brands that are still doing exceptionally well in the face of the COVID-19 threat. Let’s look at some of the web businesses that thrived despite the pandemic.

Online Retailing

According to Statista, in June 2020, online retail websites received about 22 billion visits, up from 16.07 billion in January 2020.

Because of COVID-19’s negative consequences, many consumers have turned to e-commerce shopping to avoid crowds in physical stores.

Even for basic purchases like groceries and medical supplies, people are turning to e-commerce websites and applications. Let’s take a look at how a big e-commerce company handled its business during the pandemic.

1. Amazon

Amazon conducted its commercial operations during the crisis with the help of the most powerful economic and cultural forces. According to Amazon’s first-quarter sales statistics, the business generated $75.5 billion in revenue, up from $59.7 billion in the same quarter a year ago.

According to Amazon’s most recent financial statement, the COVID-19 cost the business $88.9 billion in the second quarter of 2020. It has boosted its grocery stockpiles by 160 percent due to the increasing demand for grocery products during the COVID-19 period. When compared to previous years, this resulted in a threefold increase in grocery sales.

To accommodate customers’ immediate needs, Amazon stated on March 17, 2020, that it would temporarily sell only home staples, medical supplies, and other high-demand basics instead of shipping low-priority products.

Entertainment

Because it’s so important to adopt new habits like social distancing and self-isolation, many people have developed a taste for in-home entertainment.

This has cleared the way for OTT (Over-The-Top), video streaming, internet gaming, and other kinds of digital entertainment to flourish.

Because of the COVID-19 pandemic’s impact, video-streaming platforms have seen a 113 percent increase in average users since the statewide lockdown, and the worldwide OTT business is predicted to grow to $438 billion in revenue by 2020.

Take a look at how the OTT behemoth Netflix has grown despite the pandemic. Check out our thorough blog about the greatest OTT platforms from around the world to learn more.

2. Netflix

Netflix is a streaming service that makes award-winning TV episodes, movies, documentaries, and other content available on tens of thousands of internet-connected devices.

Netflix’s global total reached 182.9 million from January to March 2020, according to a Reuters report. During the first quarter of 2020, Netflix added roughly 16 million new customers, more than doubling the rate of growth expected in January.

According to Netflix’s first-quarter earnings report, profits-per-share (EPS) were roughly $1.57, revenue was $5.77 billion, and global paid net subscriber additions were 15.77 million.

Healthcare Products

Because most individuals are now remaining at home to combat COVID-19, the exposure of healthcare goods such as bleaches, disinfectants, and sanitizers has reached an all-time high.

During the epidemic, hand-sanitizing products were distributed to almost 90,000 people worldwide, with another 150,000 projected by the end of 2020.

Because of the coronavirus outbreak, a prominent hand sanitizer brand saw an increase in sales and earnings.

3. Clorox

Clorox is a cleaning product company established in the United States that makes bleaches, disinfectant wipes, and other cleaning solutions to remove stains, deep clean, and sanitize. The corporation earned $1.89 per share and generated $1.78 billion in revenue by the end of the first quarter of 2020. Net sales increased by 15% to $1.78 billion. In the third quarter, organic sales increased by 17%.

Consumer demand for the company’s cleaning products increased in response to the coronavirus epidemic, resulting in a 15% increase in revenue in the third quarter. In addition, the business boosted its fiscal 2020 projection. Furthermore, the company’s entire stock increased 3.6 percent in premarket trade.

Sales climbed by 22% in the fourth quarter of 2020. Clorox earned $310 million, or $2.41 diluted earnings per share, compared to $241 million, or $1.88 diluted earnings per share, in the prior quarter, a 28 percent rise in diluted earnings per share.

Remote Communication

Due to the rapid spread of the COVID-19 epidemic, several IT companies are encouraging their staff to work from home. As of March 27, 2020, an estimated 16 million knowledge workers in the United States began working remotely as a result of COVID-19.

Regular communication between teams, leads, project managers, and others should be carried out seamlessly while working remotely. As a result, employees are looking for platforms that offer good remote communication options.

Based on our study, we discovered that Zoom is one of the top communication solutions that many individuals use to keep teams connected when working from home.

4. Zoom

Zoom, a video conferencing application, has unquestionably been the most successful brand to emerge. According to CEO Eric Yuan, the company hosts 300 million meeting participants per day. In March, Zoom said that it had reached 200 million daily meeting participants. For 2020, its stock is up 120 percent.

Zoom (ZM) reported a 169 percent increase in revenue for the three months ended in April.
At the moment, the platform is used by 265,400 businesses with more than ten employees, representing a 354 percent raise. Revenue from the updated versions ranges from $495 million to $500 million.

Virtual Fitness Training

Fitness studios have ceased operations as a result of social isolation and self-quarantining techniques during the coronavirus pandemic. Many fitness trainers are now using online platforms to provide digital fitness training programs, such as posting challenges on Instagram, going live on Facebook, and offering fitness instructions on YouTube, among other things.

This has prompted many healthcare professionals to pursue online fitness training. According to a survey conducted in March 2020, 16 percent of respondents in the United States had increased their use of internet exercise videos.

We came upon Peleton, a workout equipment manufacturer when studying the online fitness-related firms that did well during the pandemic. Its astute rebrandings amid the crisis aided them in achieving great results.

5. Peloton

Peloton is a fitness equipment firm based in the United States that has handled the pandemic admirably. During the fiscal third quarter, revenue increased by 66 percent, while membership in the company’s mobile app increased by 30 percent.

People bought its exercise equipment and attended its live classes. Revenue increased to $524.6 million by the end of the third quarter. Peloton has also boosted its 2020 forecast for connected fitness customers, which are defined as Peloton users with a paid membership, from 920,000 to 930,000 to 1.04 million to 1.05 million.

Due to the COVID-19 epidemic, the firm stated it closed the quarter with a linked fitness subscription base of more than 886,100 users.

Grow Your Online Business Despite Pandemic

Hopefully, we’ve covered the most successful businesses that thrived despite the pandemic’s chaos. Whether you’re establishing a new business or looking for ways to expand an existing one at COVID-19, it’s a good idea to draw inspiration from successful firms.

If you are having any difficulties and would like to strategically apply the best-working techniques for your business to thrive during COVID-19, then do not hesitate to contact our Brokod. You can contact us at any time by leaving a message, calling us at +91 93720 96952, or pinging us on Skype or mail us at contact@brokod.com. We are excited to collaborate with you!

Do you know of any other brands doing very well during this pandemic? Please share your thoughts in the comments box below.

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