industries impacted due to coronavirus pandemic
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INDUSTRIES IMPACTEDDUE TO CORONAVIRUS PANDEMIC
IMPACT
NEUTRAL OR NEGATIVE IMPACT POSITIVE IMPACT
AVIATION
RESTAURANTS& BARS
GLOBAL TRAVEL&TOURISM
FASHION & RETAIL
LUXURY PRODUCTS/SERVICES
COSMETICS
ELECTRONICS
MEDICAL SUPPLIES& SERVICES
IT SERVICES
GROCERIES &ESSENTIALS
GAMES &ENTERTAINMENT
ONLINE FOODDELIVERY
MARKETING &ADVERTISING
ACCORDING TO IATA, THE AVIATION INDUSTRY HAS SHOWN A DROP IN REVENUE BETWEEN $63 BILLION AND $113 BILLION ON THE OVERALL ECONOMY.
IN THE UNITED STATES, THE SALES OF MEDICAL MASKS INCREASED BY 319%, HOUSEHOLD MAINTENANCE MASKS BY 262%, HAND SANITIZERS BY 73%, THERMOMETERS BY 47%.
THE IT INDUSTRY ALSO HAS PROFITED WHILE THE CORONAVIRUS PANDEMIC CRISIS. AS WORK FROM HOME HAS BEEN IMPOSED GLOBALLY, CLOUD SERVICES HAVE SEEN A SUDDEN HIKE.
THE DEMAND FOR GROCERIES AND ESSENTIALS HAS RISEN SO HIGH THAT THE WORLD’S LARGEST RETAILERS, WALMART AND AMAZON ARE HIRING 150,000 AND 100,000 WORKERS RESPECTIVELY, TO FULFILL THE RISING DEMAND.
THE GAMING AND ENTERTAINMENT INDUSTRIES ARE ALSO BENEFITING TREMENDOUSLY. STUDIES HAVE SHOWN THAT VIDEO STREAMING PLATFORMS HAVE SEEN A GLOBAL MARKET SHIFT OF $6 TRILLION AS VIEWERS STAY AT HOME.
WHILE THE RESTAURANTS ARE CLOSEDFOR THE DINE-IN FACILITY, THEY ARE STILL ALLOWED TO FULFILL THEIR ONLINE OR TAKEAWAY ORDERS.
THE NATIONAL RESTAURANT ASSOCIATION OF THE UNITED STATES STATED THAT THE RESTAURANTS AND BAR INDUSTRY WILL BE IMPACTED BY $225 BILLION IN THE NEXT 3 MONTHS & WILL ALSO ECONOMICALLY IMPACT BY $675 BILLION BY REDUCING 5 TO 7 MILLION JOBS.
WTTC PREDICTS WORLDWIDE 50 MILLION JOBS AT RISK WHICH RESULTS IN APPROXIMATELY 12-14% OF UNEMPLOYMENT WORLDWIDE.
INTERNATIONAL FASHION EVENTS LIKE MET GALA AND THE CFDA AWARDS HAVE BEEN POSTPONED INDEFINITELY AND THE INDUSTRY HAS BEEN AFFECTED NEGATIVELY.
THE BOSTON CONSULTING GROUP HAS PREDICTED THAT THE CORONA-VIRUS CAN BRING DOWN GLOBAL LUXURY SALES BETWEEN €30 BILLION TO €40 BILLION.
THE COSMETIC INDUSTRY HAS ALSO BEEN NEGATIVELY IMPACTED. FOR EXAMPLE, THE SALES OF COSMETIC PRODUCTS IN ITALY DROPPED BY 17.3% WHILE SHAVING PRODUCTS SALES DECREASED BY 6.7%.
CHINA’S ELECTRONIC EQUIPMENT OUTPUT IN JANUARY 2020 DECREASED BY 12% COMPARED TO JANUARY 2019 AND DOWN 27% COMPARED TO DEC 2019.
MARKETING ACTIVITIES AND BUDGET COMMITMENTS ARE DELAYED AND UNDER REVIEW GLOBALLY THAT HAS AFFECTED THE INDUSTRY NEGATIVELY.