10 Services that will help you set up a profitable business in the Coronavirus outbreak season
The entire world is in chaos since the outbreak of the pandemic Coronavirus. Every country is striving hard to get rid of the deadly virus. A number of rules and regulations have been imposed, and people are cooperating with the government every day. Every nation in the world has inflicted lockdowns to ensure the safety of their citizens. Social distancing and isolation have also been advised as a precautionary measure.
On the other hand, the virus and the lockdown are affecting several businesses, and business owners are trying to cope with the loss and keep their business running. On the contrary, there are a handful of businesses that are rapidly growing in this outbreak season. In this article, we will obtain an in-depth understanding of those services that will flourish in the market and help you yield profit in this period.
Before setting up a business, you need to have better clarity about the market and the current scenario. The on-demand market has a set of new standards during this pandemic season to ensure the safety of people they serve. Invest in the right business after you get a complete overview of it. Below listed are a few effects that the Coronavirus has had on our life and the economy:
- After the outbreak, people are advised to stay in their homes. They have been in lockdown for nearly two months now. Their stress levels will increase as each day passes by.
- They also cannot go out as they wish. Except for purchasing essential needs, they can not step out, and in many parts of the world, more than three people are not allowed to get together in any public place. So human interaction reduces during this season.
- The economy is also in the downtrend for a few months now due to the outbreak. Several businesses are on the verge of shutting down due to the unmanageable loss.
- Many organizations and educational institutions are closed down, and so many people are losing their jobs currently.
- Transportation is one of the major revenue-generating industries that are currently not in operation and is facing a huge downtrend.
Similar to these, many other industries have also had an impact, and people are psychologically affected. In order to serve the people better and establish your brand in the industry during this pandemic season, you can set up an on-demand business in a short time. A few businesses that can be launched in the market are listed here:
Video streaming services:
Since people are staying indoors every day, they turn to digital streaming platforms such as Netflix, Amazon Prime, etc. You can also launch a streaming service in the market with all the necessary features. The streaming app will have multiple sources of resources such as advertising, memberships, premium features, and more.
There are a few reasons to back up the fact that an online streaming service is one of the best businesses that you can set up:
- More than 95% of the users are now spending a lot of time watching movies or TV shows using streaming apps.
- In the US, around 49% of the people are making use of the Live TV service available in these apps.
- It is also found that 26% of the people are using these streaming apps for the first time in this quarantine season.
Considering these facts, you can get in touch with a suitable app development company and build an optimized online video streaming platform in no time.
Alcohol delivery app:
As mentioned earlier, restaurants, pubs, and bars are closed down due to the lockdown imposed. People who are staying at their houses will want to party on the weekends and hang out with their family or celebrate a special occasion. But, they will be unable to buy any alcohol, and an alcohol delivery app will surely come to their rescue.
In this season, launching an alcohol delivery app in the market will definitely help you generate high revenue. You can connect the alcohol vendors with users via your online platform. The contact-less delivery feature can also be included to avoid the spread of the virus. A few facts on this industry:
- During the first phase of lockdown in the US, the sales of beer increased by 14%.
- The sales of spirits and wine increased by 26.4% and 27.6%, respectively.
- In cities like Chicago, Seattle, and Boston, they are witnessing a 300-500% increase in alcohol sales.
Therefore, setting up an alcohol delivery business in the lockdown season will definitely benefit you and your users in every way possible.
On-demand doctor’s app:
More attention is being given to the people infected with Coronavirus, so other patients are finding it hard to schedule an appointment with a doctor. They are also terrified about stepping into the hospital due to the virus spread. They are uncertain as to how safe it is to visit a hospital in this season. So, providing medical care via an online platform will help them to a greater extent. You can build an on-demand doctor’s app where doctors with a license to practice, and people can interact. A survey states that:
- Out of 150 people, only four of them are not concerned about Coronavirus's impact. The rest assured that they are worried about the impact.
- They have turned to online doctor service apps as there is an increase in the number of users by 257% for Amwell, a telehealth service provider in the US.
- In Washington, there has been a 700% increase in the number of people who seek medical care via an online app.
Take this opportunity to build your on-demand doctor consultation app and launch it on multiple platforms to acquire a large customer base in a short span.
Online gaming platform:
This is another major platform that is in the uptrend now. People are downloading online games and having fun playing those games with their close friends and family. It is a fun activity that will help users take their minds off the virus. As an entrepreneur, you can also build an effective gaming platform using which users can play. Make sure you provide the feature to help connect users with a common ID. A few stats on the industry are stated here:
- The number of game downloads from the app store has drastically increased in the quarantine season.
- During the 1st quarter of the year 2020, users have spent around $23.4 billion on gaming. It is considered to be the most highly spent consumer quarter in the year till date.
- New gaming applications have 31 billion downloads during the outbreak season.
- The number of downloads has increased by 15% in the year 2020.
So, you can invest in this growing industry and obtain good returns as expected. Get in touch with the best developers to launch your gaming platform in a jiffy.
In this outbreak season, the number of users availing services or buying any needs from an online app has increased. Since they cannot step out of their homes, people are preferring to buy necessary and other items using an efficient online app. The app will have multiple sources of revenue, and your app can be developed quickly in this season.
Below specified are a few facts on the e-commerce industry:
- For the month of March, the number of online orders for web-retailers increased by 52% in North America.
- The online sales in Canada also increased by 99% during the first month of quarantine.
- The online electronic appliances and do it yourself sales increased by 161%, and the home decor sales spiked up by 160%, followed by the sporting goods sales that increased by 105% during this season.
Video conferencing apps:
Since people cannot come out of their homes and meet each other, they are taking advantage of the video conferencing apps like Zoom, Skype, etc., to communicate with their loved ones. You can take this profitable opportunity to launch your video streaming app in the market now. With an optimized app and the right marketing strategy, you can establish your brand in the industry.
- The video conferencing app Zoom has had a 78% increase in the pandemic period.
- The share rate of the app has increased by 67.27% during the first three months of the year 2020.
- Many schools, educational institutions, and organizations are also using these platforms to host meetings and classes.
On-demand grocery delivery app:
Due to the current circumstances, shopping for essential needs is highly difficult, and the chances of the virus spreading are higher when everyone steps out to buy necessities. In this pandemic season, you can also set up your own brand of grocery delivery in the on-demand market to help people fulfill their daily needs safely.
A few stats on the grocery delivery market are specified below:
- Apptopia, an app store intelligence company, stated that the number of downloads for online grocery apps has significantly increased since March.
- Especially, the number of downloads for applications such as Walmart Grocery, Instacart, and Shipt have spiked up by 218%, 160%, and 124%, respectively.
- Before the outbreak, these applications witnessed 10,000 to 20,000 downloads per day.
- Post outbreak, Walmart Grocery, and Instacart saw its per day downloads increase to 54,000 and 38,000, respectively.
These statistics stand witness for the fact that launching an online grocery delivery app in this season will help you yield high profit and, at the same time, serve people who are in need.
Self-benefit or meditation apps:
With the lockdown increasing in every country, people are finding it hard to stay indoors every day. They are feeling depressed, and they need a good diversion from the pandemic and its effect on them. So, they turn to meditation or self-benefit apps to get away from the chaos. There two apps that saw a surge in its usage: Headspace and Calm. A few facts on these apps are given here:
- Headspace and Calm are two health and fitness apps that are generating high revenue in the outbreak season.
- Headspace witnessed a 13x surge in their number of users in the pandemic season.
- So, the app has started offering free hubs with the necessary instructions and practices.
- The app Breethe has spiked up by 31 spots and reached the 40th spot after the outbreak season.
- Another app BetterMe, has jumped up by 70 spots and procured the 26th spot.
Health and fitness app:
In this quarantine season, many people have decided to use this time to stay healthy and fit. So, the fitness routine apps and other similar platforms have seen an upsurge in its downloads and number of users. This will be the right time to launch your personal health brand that will benefit many users in this season. Let us have a look at a few stats:
- Apps like Nike Training club and Asana Rebel are flourishing in the market and are setting new records.
- The applications in this industry are witnessing a 59 million spike in this season.
- The consumer spend on these apps is $36 million during the month of March.
Digital payment platforms:
During the social distancing and isolation period, people prefer to pay for their purchases via digital platforms as it avoids contact with the delivery or store executives. Via digital payment, all that people should do is scan the QR code or key in the UPI ID, and they can make a successful payment in a few seconds. In this period, this mode of payments is proven to be safer than paying via cash or card.
These are the top 10 business ideas that will help you launch a profitable business in this Coronavirus outbreak season. You should get in touch with the best team of developers in the market and obtain their effective assistance on building an optimized platform for your online business. Reach out to your audience in this quarantine season, to help with their well-being, generate revenue, and thereby fight Coronavirus together.