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Published on November 25th, 2020 | by minshewnetworks

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Online Services Which Started Growing Fast Due to COVID-19

The coronavirus pandemic changed the business landscape as we knew it. It forced many businesses, such as restaurants or retail stores, to either find new and unique ways to reach their customers or close down, often permanently.

 

As a result, many industries started investing in online services. After all, internet access has become available to the vast majority of the general population in recent years. When faced with strict lockdowns, people are naturally more inclined to use services that don’t require them to leave their houses.

 

Consequently, many online services started experiencing rapid growth. From online stores to digital entertainment, numbers of customers increased at lightning speed in a matter of days.

Some companies were more successful than others, but still, even small profits seemed great compared to thousands of companies hit with massive financial losses and layoffs.

 

So, which online services hit it big this year? There have been quite a few of these, but we came up with a short and comprehensive list of chosen examples. Take a look!

 

Online Gambling

Online gambling has become widely popular in recent years, thanks to how convenient it is. Instead of having to sit at a table in a loud and busy casino, you can enjoy playing from the comfort of your home, free of any distractions.

 

On top of that, it allows you to click through multiple websites in a matter of seconds. As a result, you have a wide selection of games at your fingertips, without the need for surfing through numerous casinos.

 

Amidst a global pandemic, the number of active users in online casinos has skyrocketed. After all, gambling has been perceived as relaxing and exciting for centuries. It should come as no surprise that it served as a pleasant distraction for so many people.

 

If you’re keen on visiting an online casino, consider going to this website. Thanks to many comprehensive reviews and comparisons, it should help you make the right choice!

 

 

Online Shopping

Ordering your clothes and food on the internet has been widely popular for a few years now. However, not everyone treated it as a viable option that could completely replace the traditional shopping experience anytime soon. The coronavirus pandemic proved them wrong in a matter of weeks.

 

Imagine that upon being notified that you have to undergo a two-week-long quarantine, you realize that your fridge is empty. On top of that, there’s almost no toilet paper left. Most likely, you’d resort to doing the groceries online, and that’s what many people did as well!

 

Consequently, companies such as Amazon or DoorDash saw their stocks booming. In the middle of a pandemic, millions of people needed their services more than ever before. If you were to compare them to thousands of other companies who saw substantial profits this year, these two have probably been the most successful ones out of them all.

 

 

Streaming Services

Watching Netflix has become the favorite pastime of millions of people in recent years. Whether you want to relax in the evening or simply have nothing to do while on the train home, watching your favorite TV show is a great way to spend your time.

 

Millions of people came to the same conclusion while facing a long-term lockdown since Netflix subscriptions surged during the pandemic. The streaming services started serving as a refuge from getting bombarded with terrible pandemic-related news.

 

Another giant of the entertainment industry, Disney, decided to make Mulan live action feature film into an online exclusive for their streaming platform Disney Plus. Even though it required the users to pay an additional fee, it still made the studio over $35,000,000 in net profits.

 

Many people initially thought that such a bold move will end up being a huge flop. In the end, it only proved that streaming services are indeed the future of online entertainment.

 

 

Conclusion

The pandemic has put many business owners in a very tough spot. Thanks to a minimal number of clients and dwindling profits, many establishments had to close their doors.

 

On the other hand, many companies swiftly adapted to this very unusual and unexpected situation. They started reaching out to their potential clients on the internet, investing in online stores, and offering fast deliveries. As a result, they came out on top and stayed very profitable despite the challenging circumstances.

 

Additionally, with thousands of people laid off or placed under quarantine, online entertainment has become extremely in-demand. Many online services that have been around for years, such as online gambling, have seen a massive increase in their profits.

 

All in all, the pandemic hasn’t been that terrible for everyone who has a business of their own. For some, it’s been a time of extreme and unexpected growth. It proves that each situation, no matter how dire, may have its unique set of unexpected benefits, at least for some people.

 

 

 


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