The COVID-19 pandemic has taken the world by storm. It has affected the economies of parts of the entire world because of the sudden lock downs and fear among people. India has been one of the countries that is actually dealing with the situation in a systematic manner and not letting it go out of hand. According to a Gallup survey, out of a 1000 respondents, 83% responded positively to a question which asked how well their government is handling the corona virus pandemic.
The lockdown in India which started on 24th March 2020 is supposed to end on the 31st of May 2020. The lockdown was extended by the National Disaster Management Authority on the 17th of May 2020. The government has also divided the country into Green, orange and Red Zones and the relaxations on the lockdown depend on the categorization of the places.
During the Pandemic the Indian Economy saw a sharp rise in unemployment as people cannot afford to keep so many employees anymore and businesses are at a loss. It saw a decrease in government income, death of the tourism industry as travel is completely prohibited, stress on the supply chains, collapse of the hospitality industry as travel is not happening, reduced consumer activity as all stores are shut down and a plunge in fuel consumption as there are hardly any cars on the road because of the lockdown.
However, even during this pandemic there are some industries that have not gone into a complete loss and are continuing business with profit. Let us check out some Industry who has knock down the Lock down
“Social distancing” and “work from home” have become very common phrases among this global pandemic. The telecom sector is what makes work from home possible. It is what makes people stay connected. Which is why it is no surprise that the telecom industry is doing just fine amid this lockdown in India. Remote working, video conferencing and telecommunications have become important to keep businesses running during this lockdown. Online streaming apps like Netflix are also on high demand as these are the only source of entertainment. All these needs during the lockdown have put the telecommunication industry in the spotlight.
Having a telecommunication network has become so important that as of March 24, 2020 it is issued as an essential service and is exempt from the lockdown. This exemption was also provided when the lockdown was extended. According to news reports, overall telecommunication traffic jumped by 10%.
2. Cooking Gas
The oil and gas sector is among the eight core industries in India. It plays a huge role in influencing decision making for all other sections of the economy.
According to an article in the Business Standard, Cooking gas or liquefied petroleum gas (LPG) sales rose 12.1 percent to 2.13 million tonnes. Retailers in the States sold 21% more LPG in the first 2 weeks of April compared to the year before. Besides this, India is also providing free cooking gas cylinders to the poor people who can’t afford it during the lockdown as all income is blocked. They will be providing cooking gas from April till June to help them during this time of crisis.
E-commerce has changed the way India does business. The Indian E-commerce business is expected to grow to $200 billion by 2026 from $38.5 billion as of 2017. Most of this growth is because of the increasing smartphone and internet penetration into the market.
According to Global Data, a London based data analysis firm, he COVID-19 pandemic is expected to accelerate the growth of India’s e-commerce market , pushing it to over $92 billion by 2023. It is set to grow at a compound rate (CAGR) of 19.6% between 2019 and 2023.
According to an article in the Live Mint, e-commerce payments are set to record a steep increase of 25.9% in 2020 as consumers are increasingly shifting to online spending to avoid exposure to the virus. Ravi Sharma, banking and payments lead analyst, Global Data, said, “While the current lockdown in the country has led to the overall decline in consumer spending, this is being partially offset by a rise in online spending, as wary consumers stay at home and use online channels to purchase goods. Online payment solutions from the likes of Paytm, Amazon Pay and Paypal could potentially benefit from the current situation.” He also said that the The covid-19 outbreak will have greater implications on Indian consumers’ buying behavior pushing them to embrace e-commerce. The market is anticipated to continue its growth exceeding the previous forecast levels to reach $98.4 billion in next four years.” The growth is primarily being led by Flipkart and Amazon India.
Amidst the lockdown because of COVID-19, OTT platforms are gaining immense popularity among viewers as they don’t really have much else to do. According to a survey by mobile marketing platform InMobi, 46% viewers are watching their desired content online. Another survey conducted by Hammerkoph discovered that OTT consumption primetime has changed to 7pm onwards from the earlier 10pm-12am.
Along with the rest of the world, India has also seen a rise in the number of people streaming. According to data collected by Just Watch, online streaming has seen a 60% rise among the Indian audience. Due to this sudden surge in streaming and the immense internet traffic, streaming sites had to take measures to ensure that users could still access their platforms with ease. YouTube, which is India’s no. 1 streaming platform declared that YouTube would be streaming at 480p on mobile networks by default until 14th April. Other streaming sites like Sony, Facebook, Amazon Prime, Hotstar, TikTok, etc also agreed to stream at Standard Definition instead of High definition so that there would be no extra strain on the networks.
5. Online Gaming
Among this pandemic, people have left no leaf unturned when it comes to passing their time. This has been a huge boon for the online gaming industry. India comes under the top 5 gaming markets in the world and with the lockdown in place, the online gaming industry’s user engagement is skyrocketing.
In an interview with Economic times, Paavan Nanda, co-founder, WinZo Games said, “The surge for us came suddenly. On the weekend of March 15, there was a 3x increase in game plays and 30% higher traffic. As the country locked down, this grew every single hour,”
According to Nanda, the most popular games are the multiplayer games like Ludo, Carrom, Royal Battle, etc. These games have seen a spike since the lockdown and users play with their friends and family. The usual audience for gaming companies are aged between 18 – 25 and are mostly males but after the lockdown the age group has altered to 25-35. Also, a marginal increase in female traffic has also been observed during the lockdown.
Paytm Games has witnessed a 200% increase in their user base amid the lockdown, Gameberry Labs witnessed a 300% growth in their daily engagement and installation. Other popular games are Houseparty and Psych which are also multiplayer games. The game engagements are so high that users also experience lags in the games.
Even in lock Down We team of Brandland Continue to serve our clients with our digital platform http://brandigi.in/ . http://www.virtuallexpo.com is going to be future the way world look at events & exhibition ,Brandland a No.1 Brand activation company is looking forward to roar in the market post lock down. Let us know whats your thought on same , did we miss any industry which is performing well? do comments your opinion.
- Author Ms Simran Pradhan ( channel Partner Executive -Brandland Advertising