Over the past year, industries have been shaken up due to the effects of COVID-19. During these unprecedented times, some industries have flourished, while others have struggled. New ways of doing business have been adopted and accelerated, such as curbside pickup, delivery, drive-through service and contactless payments in the restaurant and pub sector. Ever-changing government restrictions, based on COVID-19 cases and hospitalization counts, have created an atmosphere of high transition, as businesses have been forced to grapple with constant change. The degree of change encountered by the world over the last year has been enormous. Some changes will continue into the long term, while others will be more short term in nature.
As of February 11, 2021, there has been 106.9 million COVID-19 total worldwide cases and 2.3 million deaths. In January, the Canadian unemployment rate was 9.4% and the Alberta rate was 10.7%. The world has been affected by COVID-19 and there has been an abundance of negative statistics and outcomes. But, there has been some bright spots that provide hope for individuals, companies, countries and the overall global economy. According to the Retail Council of Canada, strong performance was seen across core retail sales, led by building materials, sporting goods and electronics. Take a look at some of the industries that have been doing well in Canada.
1. HEALTHCARE
Healthcare professionals have played a critical role during COVID-19. Professionals on the front lines such as nurses, doctors, paramedics, physicians, respiratory specialists, laboratory technologists, physiotherapists, behavioral health therapsists, administrators and many more, have bravely kept the healthcare system intact during increasing COVID-19 case counts and hospitalizations. These health care workers deserve acknowledgment for handling COVID-19 testing, patient care and all other areas, including mental health issues. The healthcare industry provides an essential service and it is expected to remain an important industry in the long term. Demand for healthcare supplies and safety products was strong over the last year, with 3M gowns and N95 respirator masks being used on the front lines.
2. TELECOMMUNICATIONS
This sector provides wireless and wireline communications through the phone, the internet, cables or airwaves. Wireless roaming decreased last year as people travelled less. However, people spent more time at home due to government-imposed restrictions and changes to schools and the workplace. During this time, the telecommunications industry was quickly tasked with supplying higher volumes of high speed residential internet connections to its customers. Providing fast, stable and secure services for millions was no small feat for major telecoms like Rogers Communications, BCE Inc., Telus, Shaw and Videotron. Mobile networks also experienced high-volume usage.
Social distancing guidelines created a need to communicate more in different ways, such as phones or video calls. All of these services created the need for support from IT, installation, maintenance and others. The telecommunications sector is expected to experience increased demand going forward. Scotiabank telecommunications analyst, Jeff Fan, recently announced, "we are bullish on Canadian wireless," for the first time in three years.
3. DELIVERY & TRANSPORTATION
Courier and transportation services have been very busy over the last year, as people have ordered many items online. It has been common to see UPS, FedEx and Purolator trucks within residential neighbourhoods more frequently than ever before. It has also been common to see many other delivery services. Ordering off of Amazon and other retail sites has exploded, as people have remained home for long periods of time. SkipTheDishes, DoorDash and other services, have helped deliver food from various places of business. Food delivery habits are changing during the pandemic.
___________________Subscribe to more business articles here____________________
4. ECOMMERCE
Last spring, ecommerce giant Amazon went on a hiring spree, as it hired thousands of workers in the U.S. and Canada to cope with increased demand for its services. In September, the company announced that it would hire more employees across the U.S. and Canada. Since then, it announced the creation of another 1,600 seasonal jobs in Alberta and 1,000 jobs in Quebec.
5. VIDEO-ON-DEMAND
Since many people have spent so much time at home over the last year, it is of no surprise that video-on-demand services have seen an uptick. Statista stated that revenue in the video-on-demand market is projected to reach US$1,959m in 2021. Netflix, Amazon Prime Video, Crave and Disney+ are some of the biggest contenders in this category, with many other services available, such as AppleTV+, CTV, CBC Gem and YouTube Premium. This category features video streaming, pay-per-view and video downloads. Currently, Netflix is hyping its 2021 U.S. lineup, with a new movie planned for every week of the year. The company also just announced that it will be opening up a Canadian office, but the location is yet to be determined. They are considering Vancouver and Toronto.
6. CLEANING PRODUCT COMPANIES & CLEANING SERVICES
Cleaning product companies have experienced a big surge in demand due to COVID-19 and disinfectants and sanitizers have become the norm wherever you go. Grocery stores have not always been able to consistently keep these products in stock due to their popularity. According to Amazon Canada, Mr. Clean, ARM & HAMMER, VIM, Cottonelle, Bar Keepers Friend, Mrs. Meyer’s, Fantastik, Lysol, Clorox, Windex and Green Works are some of the most popular companies in the all-purpose household cleaner category. The Government of Canada offers a list of disinfectants with evidence for use against COVID-19.
Companies providing cleaning services have also been in high demand. Retail stores, businesses, households, hospitals, schools and other places have required increased deep cleaning, disinfecting and sanitizing services. Those that have been able to provide these services have been very busy over the year.
7. VIDEO CONFERENCING
Consumers utilized high volumes of video conferencing last year for business and personal use, since in-person meetings and get-togethers decreased. Video conferencing enables online communication for meetings and seminars, with features such as chat, recording and screen sharing. Zoom, Microsoft Teams, Skype and Google Meet are big players in this category, but there are many other companies that provide these services. Travel bans created the need for video conferencing to enable business continuity in certain circumstances. A Global Market Insights Report stated that the video conferencing market size was USD$14 billion in 2019, and is forecast to grow to USD$50 billion by 2026.
8. HOME IMPROVEMENT & HOME DECORATING
Home improvement and home decorating companies, such as Home Depot, Lowe’s, Wayfair, Overstock, Ikea and Leon's, have benefited from a big increase in demand. Homeowners are focusing their efforts on design, décor, gardening, landscaping, plumbing and more. Sales have spiked in products such as lumber, and at times, customers are having to wait for products that fit into their home design plan. DIYers can find a vast array of information and inspiration online, from how to hang wallpaper to how to build a deck. Companies that provide these services have been very busy as well. Numerous before and after pictures of homeowner projects have surfaced on social media and HGTV has been quick to respond with adding multiple new shows to its lineup in 2021.
9. PETS
Pets, pet accessories and training have been hugely popular this year. People have had more time to devote to pets since they’ve been at home. Working from home has allowed people to be present for pet companionship, pet bathroom breaks, play, training and more. In particular, puppy training has been made easier with owners at home more often. Statista stated that numbers are up and more than a third of all Canadian households owns a dog and 40 per cent now have a cat. PetSmart is one of the largest Canadian retailers that caters to pets and there are thousands of other small businesses across the country. According to the Research and Markets Canadian Pet Market Survey 2020, over a third of Canadian dog or cat owners report buying pet products online more than they used to. Amazon currently ranks pet products such as cat litter, puppy training pads, treats and vitamins as some of its best sellers.
10. GROCERY STORES & LIQUOR STORES
As the pandemic set in during 2020, people flocked to grocery stores to stock up on groceries and certain items. The initial spike in demand subsided as the year went on but the sector still remained strong. Liquor stores also saw an increase in demand. A Retail Council of Canada report stated that, year-over-year, food and beverage stores experienced a 4.63% sales increase in October 2020. In fact, only the food and beverage retail subsector, recorded an increase in in-store sales from February to April 2020. These sales increased 3.3%, while ecommerce sales surged 107%. The top five highest growth categories in grocery as of July 2020 were baking needs, alcohol, seafood, processed meat and condiments.
Loblaw (Real Canadian Superstore), Sobeys, Save on Foods, Walmart, Safeway and Metro are some of the largest grocery store chains in Canada. Loblaw’s third quarter 2020 results stated that same store sales grew by 6.9%. As people have gone out less, they have been able to spend more time cooking and baking at home.
11. EXERCISE, FITNESS & SPORTING
Staying active and fit has been a priority for many this year. In-home exercise equipment sales surged as consumers prioritized staying fit and healthy while at home. Ordering equipment such as yoga mats, dumb bells, resistance bands, jump ropes, exercise bikes, rowing machines, blocks and benches has been popular. Retailers supported people that wanted to be active outside during all of the seasons. Sporting equipment such as bicycles and rollerblades, along with other items such as inflatables and kiddie pools were popular over the summer months. As winter approached, consumers planned ways to stay active during the cold months. They loaded up on skis, snowshoes, skates, sleds and footwear grips, spikes and warmers.
12. ONLINE EDUCATION, TRAINING & TUTORING
As of January 2021, a UNESCO report stated that over 800 million students, or more than half the world's student population, still faced significant disruptions to education. Over the last year, Canadian students in primary education, secondary education and post-secondary education had to shift their learning style to online platforms due to COVID-19 disruptions. Teachers and school systems made the switch to online learning platforms to educate students. Tutoring also became more popular due to the disruptions in learning environments.
Historically, post-secondary education in Canada has been slow to adopt wide measures of online or 'blended' online and in-person learning. In 2019, a Maclean's article reported that only one in five Canadian post-secondary institutions had a significant number of 'blended' options. As of late, COVID-19 has fueled the need and acceptance of online and blended education options at a faster degree. Going forward, in-person learning will still be prevalent, but education is likely to include more remote-based learning options since it has become apparent that students can learn from anywhere.
Alberta-based Athabasca University is one of the largest online learning educational institutions in Canada and offers a fully online program. Universite Laval in Quebec offers hundreds of online courses and Queens University and Memorial University also deliver many online courses and programs. There is a plethora of options available for online education and training in courses, certificates and degrees. Forbes and Business Insider listed Udemy, Coursera, LinkedIn Learning and Skillshare as some of the best online learning platforms. Google's certificate program and Amazon Web Services' commitment to free training will help people prepare for job-ready certifications.
13. GAME & TOY COMPANIES
Games, puzzles and toys provided some much needed entertainment while people were at home from school closures, business closures and lockdowns. Retail sales in the toy industry grew in 2020, fueled by higher online prices, and puzzles have experienced a demand unlike anything the industry has seen. Board game sales soared as manufacturers tried to keep up with demand. The gaming industry was very strong and games like Call of Duty, Animal Crossing, NFL Madden and Mario Kart were top sellers in the U.S. Nintendo had a strong year with the top-selling switch gaming console and the company also published over half of the top 20 best-selling games in December 2020.
Many other sectors have been touched over the last year and sectors such as home beauty products, news & publishing and online casino's have experienced increased demand. One thing is for sure - the year 2020 will go down in history as one of the most life-changing years of all time. In the end, we are all in this together.
About Us
Melissa Strle Communications Inc. provides business content writing and business content marketing services. Writing, editing and proofreading of all internal and external corporate content, including print, social media, website and blog. News releases, articles, presentations, annual reports, videos, fact sheets, blog posts, reports, intranet stories, internal messages, memos, speaking notes, key messages and brochures are some of the items we specialize in.