Markets May Be Tumbling Worse Than Ever, but Not for These Industries

Published March 5th, 2020 - 11:40 GMT
Markets May Be Tumbling Worse Than Ever, but Not for These Industries
Stay at home services like video streaming, online gaming, and indoor workout smartphone applications have been recording unprecedented successes. (Rami Khoury/Al Bawaba)

It's no secret that fears of the novel coronavirus have wreaked havoc across markets worldwide and disrupted many industries, most notably travel and accommodation services. Yet, a few industries haven't only survived the coronavirus impact but actually flourished.

The 2019 coronavirus has sent panic waves across the world, reminding people of their need for extra hygiene precautions, increasing the world demand for hand sanitizers, soap, and other cleaning products. 

Many department and drug stores across the US have been reporting sanitizers' shortage, despite medical professionals' advice for people to wash their hands with water and soap instead of using chemically made products.

In Australia, stockpiling toilet paper has been linked to people hoarding it out of panic generated by the respiratory disease. Additionally, mask sales soared by 319% during February in the US.

Following medical advice, millions around the world have been trying to avoid contact with strangers who may be infected with the COVID-19, so they are spending most of their time at home, putting most travel plans on hold, and using the internet to keep their lives going.

Stay at home services like video streaming, online gaming, and indoor workout smartphone applications have been recording unprecedented successes since the outbreak of the deadly virus. For example, Netflix and Amazon Prime Video have been leading charts in Wall Street as people are spending record hours watching their streamed shows and films.

The online payment service Boku that facilitates payments for online gaming, music, and video streaming services has reported a 10% rise in stock shares due, mainly, to the growing number of people stranded in their homes.

Likewise, South Korean e-commerce firm Coupang Corp reported a spike in its deliveries of "up to 3 million daily", since mid-February, attributing the growth to its same-day delivery service.


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