We know that coronavirus has a significant effect on people’s lives both in positive and negative aspects. However, many companies have started adapting to the ongoing situation. Instead of focussing on the negative facets, companies have developed and learned to use the situation to their advantage. Simple yet efficient changes have been done in the existing methods to grow and sustain in their field. Banks have adapted to contactless payments with debit cards, prepaid credit card, and mobile app payment services.
Even online shopping portals and food delivery companies use the contactless method in delivery. Most of the IT companies have completely changed their working process to working from home. Educational institutes have altered their course structure and curriculum to fit online learning. Entertainment platforms such as online streaming apps, gaming, YouTube, etc., have gained more popularity these days. Many mobile applications (gaming, fitness, video calling, etc.) have become well-liked by people in this ongoing situation.
Entertainment platforms
Many streaming apps like Netflix, Disney+, Prime video, etc., are very popular in the segment, allowing users to watch movies, web series, documentaries, songs, popular shows, and many more. Due to the pandemic situation, people are unable to go to movie theatres or malls. Hence, these platforms started purchasing the latest movies and shows to increase their member subscriptions, which increased their revenue. Subscription packages are designed strategically to suit all classes of people.
Gaming is one of the biggest booming sectors of entertainment. People were unable to find time for gaming with their busy work life, but now people are homebound due to the pandemic and can utilize this time for the gamers inside them. High graphic games require high-end computers, high specification mobiles, and gaming consoles. So there is a drastic increase in sales for the industries related to gaming.
Online education
Due to lockdowns and stringent rules by the government for safety purposes, it is really hard for the people already pursuing their studies, people who are interested in studying abroad, and those who wish to study part-time besides their work. So most of the institutions have taken their courses online by altering the program and teaching methods.
Remote working
Many companies have started changing their working process completely to work from home. Companies have a lot of advantages in adapting to this method compared to the traditional one. Money-saving is a major factor because there is no need for office rent, paying electricity bills, water bills, maintenance costs, and so on. It is observed that people work more efficiently at home than in an office, leading to high productivity. Stress levels have notably come down for people working from home, and they find a lot of time to spend with their family.
Contactless and digital technologies
Since the virus is highly contagious, it can get transmitted easily through contact payments. Though contactless payments were discovered way before the pandemic, it was widely accepted only during the pandemic. Contactless payments are done through NFC and radiofrequency enabled debit cards, credit, and prepaid credit cards or by using digital payment apps developed by the banks or any other third-party apps. In addition, contactless deliveries for food and online shopping portals have become common to ensure consumer safety and the delivery executive’s safety.
Many sectors mentioned above have used digital technology to their fullest in this unprecedented time in mobile applications like payment apps, video call apps for meetings, gaming apps, fitness apps, educational apps, etc.
