COVID-19 – Which industries and jobs are safe & which aren’t
source: https://davidstaughton.com.au/impact-of-corona-crisis-industries-and-australian-economy/
Industries heavily impacted by the Co-Vid19 Crisis?
- Travel & Tourism – Airlines, Bookings, Entertainment, Hotels, Chinese Travellers, Luxury Goods, Transport
- Group Events & Activities – Conferences, Expos, Sports, Arts, Weddings, Venues, Gyms
- Hospitality & Small Group Activities – Pubs, Clubs, Casinos, Cafes, Bars, Restaurants
- Education – Universities, Schools, Childcare
- Personal Services Providers – Allied Medical, Dental, Nails, Hair, Beauty, Cosmetic Surgery, Tattoos
- Most Retailers and many traditional “face to face” Businesses
- All businesses and services directed to CLOSE DOWN by the Government
Businesses & Organisations that will probably continue operating during Corona Crisis? (least affected industries)
- OUTDOOR Industries like Farming, Infrastructure Construction, Building Services & Garden Maintenance,
- INDOOR Services Businesses that can Work from Home like Software Tech Businesses, Professional Services, Allied medical and other Office Workers
- ESSENTIAL Services needed for survival (see below)
- GOVERNMENT Services
These Industries will be LEAST Affected by the Corona Crisis downturn and their employees who continue to earn a salary make good potential target markets during the downturn
Crisis-Proof & Essential Industries?
- Government Funded Services – health, police, defence, welfare, aged care, disability, transport, environmental
- Utilities – Telco, Power (electricity/gas/solar), Water, Waste & Recycling
- Construction & Building Projects (beware a property downturn)
- Infrastructure Major Projects – Road, Rail, Ports, Airport, Aerospace? projects probably continuing or sped up
- Technology Software Businesses (now working from Home) – software development
- “Essentials” – Grocery, Bottle shops (Alcohol), Pharmacy, Dry Cleaners, Logistics
- Local manufacturers switching to essential goods manufacture – PPE, Sanitisers, Toilet paper etc
- Selected Mining and Resources businesses
Here is some more info on Government Services http://theconversation.com/government-spending-explained-in-10-charts-from-howard-to-turnbull-77158
Which Businesses will prosper, survive, struggle or die?
The Specific Business impacts of Corona Virus Crisis – The impact on business and the economy will depend on the duration of the crisis or closure – 3 months, 6 month, 9 months or 12 months and the number of “waves” of virus pandemic.
Many businesses may PIVOT or POSITION themselves to grow in a different area. e.g. Restaurants offering takeaway meals.
LIST of Businesses & Industries that will probably GROW during Co-Vid Crisis & economic downturn
- Online Stores & Online Commerce should do well
- Virtual Meetings and Conferencing – Online Virtual Training like zoom.us
- Working from Home (WFH) Services – Home Setup, Technology, Wellness, Management
- DIY Home Maintenance
- Tech tools & software to WFH – a hot category at Officeworks & JB HiFi
- Virtual Consulting – Doctors / medical services –
- Healthcare & Pharmaceutical Businesses
- Home Teaching & Schooling
- Cleaning & Sanitising Suppliers
- Advisors – Accountants, Wealth & Financial Advisers (via Virtual meetings)
- Grocery Stores and suppliers (more eating at home)
- Home Delivery services – groceries, Food, tech and Parcels
- Mortgage Brokers & Credit providers – new loans to administer and refinancing
- Big 4 Banks – Government Loans (depends if property prices crash)
- Stockbrokers
- Pawn Shops / Online Marketplaces
- Telcos and some Tech/App Services
- Home Streaming Movies – like Foxtel, Netflix, Stan etc (might be dropped to Low Res like Europe)
- Alcohol Sales (for Home Consumption)
- Crematoriums (for body disposal) – Funerals may be delayed like in Italy
- Virtual Real Estate and Property Sales
- Grocery / Food – Meat & Seafood?
- Mobile Phone Resellers and Repairers,
- Personal Trainers online & home fitness equipment
- Online Real Estate Agents – Virtual Tours & Sales
- Property Management and Body Corporate Services will be busy
- Online Art & Craft Hobby Business – learning a new artistic hobby and home school supplies
- Book Sellers & Book Publishers (Many people writing books)
- Logistics – Transport, Warehousing
- Employment Services – Career Coaching and Welfare
- Bike Shops – repair and alternative to car.
- Online Payments
- Bargain and Discount Stores – budget conscious buyers
- Pet Stores (online)
Business
that will GROW later in the Post-Crisis Downturn
& eventual Recovery
- Removalists & Relocations (moving closed Shops and residences)
- Repair & Maintenance Services – fixing things don’t buy it
- Robotics and Drones
- Auto Car repairing (no new ones)
- Funeral Events
- Lipstick and Beauty Supplies
- Flowers and Chocolates
- Insolvency / liquidation
- Repossession
- Debt Collection
- Delivery services
- Pay Day lending?
Businesses that will probably SLOW during the CRISIS – Especially during the Shutdown
- Allied Health – Physio / Chiropractic (Virtual consults only)
- Dentists
- Hairdressers & Barbers
- Nails Shops & Beauty Salons
- Surgeons & Private Specialists – Elective Surgery on hold
- Childcare Centres (attendance drop)
- Education – Universities and Schools
- Transport – Cars and Petrol Stations
- Utilities – less Power & Water being used?
- Less Waste & Recycling needed from commercial premises and manufacturing
- Mining & Resources dependent on commodity prices
- Premium Meat and Seafood for Export (to Asia?)
Businesses that will DECLINE During and After the Co-Vid Crisis
- MOST Aspirational and Discretionary Products and Services
- Hospitality Industry – Cafes & Bars
- Cosmetic Surgery and procedures like Fillers and Anti-Wrinkle injections
- Automotive – Sales of New Cars & Luxury Cars – Motor Vehicle Dealers
- Boating and Nautical Sales
- Education of Chinese students
- Solar Panel Installers
- Home Improvements – Pools and Spas
- Home Furnishing
- Restaurants – especially high-end restaurants
- Live Conferences, Events and Speakers (moving to Virtual and Hybrid Events)
Businesses & Industries that face a MAJOR DECLINE During the Crisis
BEACH Industries Hardest Hit
- Booking & Travel Agents
- Entertainment & Live Events – Sports, Conferences, Conventions, Caterers, Expos, Arts
- Airlines – Airline Travel
- Cruise Ships & Casinos
- Hotels, Resorts & Accommodation
As well as
- Tourism Attractions and Tours
- Conference Speakers, Conference organisers (PCOs), Bureaus, Expo Hire and construction
- Venues – Weddings & Events
- Retail Fashion Stores
- Hire cars and equipment
- Newsagents & Gift Shops
- Live Events
- Contact Sports and Stadiums
- Cinemas and Markets
- Massage Parlours, Escorts and Adult Clubs
- Private School Fees
- Taxis
- Gyms
- ALL Aspirational Fun Stuff – Jet ski, Harleys, Spas, Luxury Cars