The COVID-19 pandemic is undoubtedly going to leave a huge mark on everything that follows in the next decade.
With record numbers of people either out of a job or working reduced hours, we may never see an event as cataclysmic to the world economy within our lifetimes.
Of course, not everyone was affected in quite the same way. While many of us may have expected certain industries to do better than others during the pandemic, you might be surprised to know which ones are doing well and how well they’re doing. Below are some of the industries that made massive gains in 2020.
Ammo Sales and Manufacturing
An online ammo retailer in the US reported a 602% increase in revenue, among many striking numbers in the first 100 days of COVID in the US. 9mm, the most popular handgun caliber by far, led the pack, followed by .223”/5.56mm, and then by .45” and .40 S&W, depending on the state. Data from all states reported significant increases in ammo sales of all types, with a few states posting over a 1,000% increase in sales in some ammunition types. This is likely due to the anxiety felt by people in the early days of 2020.
Even with the end of coronavirus insight, the demand for all types of ammunition has not abated. Due to this unprecedented demand, there is currently an ammo shortage in the United States, which both domestic and foreign manufacturers are trying to address. Representatives from several well-known ammo manufacturers spoke to Guns and Ammo about the challenges of meeting this extraordinary situation, which is not likely to subside any time soon. As such, if you’re looking to buy ammunition in Little Rock, Arkansas, it’s best to look for a supplier with a solid record for being able to meet market demands.
Warehousing, Ecommerce, and Logistics
Amazon and its controversial founder Jeff Bezos posted record earnings during the pandemic, as did other businesses and entrepreneurs in ecommerce. With significant numbers of people choosing to stay home rather than visit brick-and-mortar retail locations, online shopping experienced a huge bump compared to previous years. This proved to be a global phenomenon, as even shoppers in countries where ecommerce adoption was low started to turn to ecommerce sites in the face of local quarantines.
While it may seem that way sometimes, ecommerce services do not materialize in a vacuum. The increase in the demand for ecommerce has led to a need for more IT support professionals, as well as professionals from related fields such as content and email marketers, search engine optimization specialists, web designers, and many others.
This industry, along with the next one on this list, was always clearly going to experience a boost in 2020. This isn’t just because more people need life-saving drugs to help alleviate the health effects of the COVID-19 pandemic. A significant amount of new investments was poured into pharmaceutical companies to aid in coronavirus vaccine research, with several companies already having developed effective vaccines that promise to help bring an end to the pandemic.
Again, not a surprise. Not only has the highly infectious coronavirus stretched hospital capacities to the limit the world over, but it has also caused an unprecedented increase in demand for personal protection solutions such as gloves, masks, and face shields. To add to that, it has also indirectly caused a mental health crisis that has increased the demand for psychiatric care and counseling services.
Somewhat predictably, people are drinking more now that they’re stuck at home. On-demand alcohol home delivery services have experienced their best year so far in 2020, as bars closed down or experienced a dip in the number of patrons. It remains to be seen how sustainable this increase is, but if people keep working at home after the pandemic, the industry may hit a post-pandemic baseline much higher than before COVID became global.
So-called essential retail businesses that sell food, hygiene products, and other basic necessities were perhaps the most visible beneficiary in the early days of the pandemic. However, it was not all smooth sailing for essential retailers, given the adjustments many have had to make to their supply chains, operations management, and other critical areas of their business. Many had to pivot towards online business, some for the first time, adding to the complexity of the readjustments.
With people spending more time at home, they’re finding the time to do things that they couldn’t have done on a regular 9-to-5 schedule. Businesses that made huge gains included those involved in home food preparation, arts and crafts, fitness, music, and other activities that once took a back seat when people spent less time in their homes.
Home Improvement and Repair
Home repairs and improvements that were once put off for later started getting prioritized now that folks were spending more time in their homes. Businesses related to DIY home repairs and improvements posted modest gains, as fewer people opted to hire professional contractors during the pandemic. More people, instead, turned to DIY repairs and improvements.
While everyone is hurting in some way because of the events of 2020, it seems that there are a select few that aren’t just hurting less but are, in fact, thriving, thanks to these unusual circumstances. Given what we know at the moment, it’s not likely that their good fortunes will immediately change after the coronavirus is brought under control.