Who are the winners of the 2020 pandemic and global economic crisis?
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Who are the winners of the COVID-19 pandemic and economic freefall?

COVID-19 in petri dish

Written by Le-roy Staines, on

In a rapidly declining global economy resulting from the chaos ensuing the COVID-19 pandemic, there will undoubtedly be some winners stepping up onto the podium. We explore some of the candidates below, along with a few tips on how to leverage the situation for yourself.

Online shopping and entertainment and perishable consumer goods retailers look to be the most apparent and immediate short-term beneficiaries seeing an upswing from the current crisis. Amazon has announced that it's looking to hire 100,000 new employees to cope with the influx of demand in the U.S. alone, and home delivery services of consumables are releasing radio statements urging customers to slow down. Local retailers of consumer goods, i.e. supermarkets, are frantically reassuring the public that only a day or two of supplies are all they need, presumably as they work on refactoring their supply chains to keep up with the increased demand. Home entertainment channels such as Netflix and Disney+ will undoubtedly soar in new subscribers, as more people stay home to isolate from the threat of the virus, work remotely or lose work.

Right now, it feels like fear is spreading as fast as the contagion.

So without further ado...

Here are some of the potential winners from the 2020 global financial crisis and COVID-19 pandemic:

How can you leverage the situation for future gain?

Here are three ways you can improve your long-term outlook:

  1. Expand your business presence in the market, as others are retreating. You may not see the immediate impact of this, but the more attention and market presence you have, the better off you'll be when economic activity resurges.
  2. Upskill your staff and see them through this too. Not only will you produce evangelists of your company/brand, but you'll increase productivity and output through strong leadership. Ultimately, you'll build an intensely loyal employee culture that is invaluable for any lasting organisation.
  3. Try something new and leave your comfort zone. Take up new hobbies, make new friends, network with people and start pushing out into areas of your community that you weren't active in before. You never know what opportunities will reveal themselves.

Bonus:
Start a business or become self-employed! In any retraction, economic activity pulls back but it doesn't disappear. You can leverage this opportunity by demonstrating real value to others in a time when they need it most.




This article was written by Le-roy Staines, founder of TimeDock.com