Winning against the crisis: companies that boosted their profits in the time of pandemic
The crisis has hit thousands of companies around the world. In…
The crisis has hit thousands of companies around the world. In Poland alone, almost 60,000 business were temporalily suspended or permanently closed in March, with more than 9,000 formal requests submitted on the last day of March. It can be seen at first glance that the vast majority of businesses have encountered numerous problems caused by a pandemic. However, there are also companies that have benefited from the prevailing chaos.
Dark horses racing for the profits
The pandemic forced hundreds of thousands of people to stay at home, dramatically changing their habits. The sales in closed clothing stores, restaurants and hotels dropped immediately. However, there were companies that can perceive the current situation as profitable. For example, Steam, an online game store, recorded a 140% increase in the number of transactions. Its competitors, such as PlayStation or Nintendo, can brag about huge profits, too. CD Projekt, the creator of the cult series about The Witcher, made a historical achievement in March, when its shares reached the all-time high at PLN 331.2. However, this may be just the beginning of a golden era for the gaming industry – first estimates say that in the United States alone, the demand for video games has increased by 75 percent.
Delivery companies also cannot complain about the lack of work, as they have also been affected by the sudden rise in online sales. Large increases in online sales were an opportunity to generate further profits for many businesses in the industry. An excellent example of this tendency is InPost, Polish delivery company famous for introducing automated pick-up points for individual customers. This time they decided to make the service even easier introducing weekend delivery and remotely controlled parcel lockers right before the shops began to close. This further fueled the interest of customers who were already enthusiastic about InPost’s solutions.
Potential to grow against all odds
It would seem during a pandemic education will not be one of our priorities. Closed elementary schools, high schools, and even universities are effectively limiting the hunger for knowledge. However, as it turned out, many people decided to use the time of quarantine and isolation to learn languages. For example, the Duolingo platform has benefited from this trend. This is a one of the most popular websites and applications thanks to a game-like learning system. This portal has experienced 100% increase in the number of new users in March. This shows a huge change in customer preferences, but also a desire to test new, often more convenient solutions.
This change can also be seen in medical industry that is currently introducing a number of intuitive digital technologies. LiveMed24 is definitely one of such solutions. It’s a technology introducing online medical consultations that effectively overcome problems that patients may encounter during a regular phone call. This platform can allow you to connect with a doctor via chat, voice call or video call, depending on the needs and preferences of the patient. At the same time, LiveMed24 helps to issue an e-prescription and even to direct the call to a specialist. All the vital information will not be lost thanks to the built-in conversation history. This solution will be perfect not only for people staying in isolation or in quarantine, but also for those who do not have the time or the opportunity to reach the clinic due to its hour or other duties. Therefore, this technology is not only for the time of the pandemic, but also for many years after its end.