Industry Trends | 19 December, 2020
“In the midst of crisis, lies great opportunity”
Covid-19 has changed the world in virtually way imaginable. Businesses that require consumers to be in the same place at the same time such as Tourism, Hospitality, and Sporting Events will be changed permanently, others will carry on, but forever be reconfigured.
Restaurants, bars, offices, and gyms are largely empty as millions stay home to halt the spread of the coronavirus. That has created new opportunities for several companies.
- Nintendo reported its annual profit surged 41 per cent, its highest in nine years. And profit in the first three months of 2020 more than tripled compared with the previous quarter.
- Peloton has led the trend in IoT connected home fitness equipment, including bikes and treadmills. Unsurprisingly, it reported a blowout 2020 Q1: Revenue grew 66 per cent and membership for its app rose 30 per cent. The company, which has a loyal following, also raised its full year forecast because it does not expect demand to decline anytime soon.
- With many people now working from home and the trend showing no sign of slowing down, Wayfair’s sales for its most recent quarter increased 20 per cent compared with the same period last year. The online retailer said it is seeing “strong acceleration in new and repeat customer orders,” with the number of orders growing 21 per cent to 9.9 million.
- Rival Overstock also said that its April retail sales were up 120 per cent compared to the same month last year, with growth occurring in its “key home furnishings categories.”
- Zoom, a video conferencing tool, has clearly been the biggest brand to break out. The company hosts 300 million meeting participants a day, according to CEO Eric Yuan. Zoom previously said it crossed 200 million daily meeting participants in March. Its stock is up 120 per cent for the year.
With the Pandemic showing no signs of slowing down, these businesses are likely to continue their upward trajectory. What do these businesses have in common?
They are driven by technology.
Add to this environment the growing acceptance of companies that remote workforces can be just as productive and the continuing proliferation of the “Gig Economy”, these are fertile times for skilled IT knowledge workers.
In this dynamic environment the best career move is to be savvy. You need a firm that is connected and experienced so you can capture the opportunities when they present themselves.
Ambassador Solutions has over 30 years experience of matching great talent to great opportunities, with a business model that is no-risk for talent or employers.
