COVID-19 has not only had an impact on the health of people at large, the economic damage that it has rendered and will continue to render may be more damaging than the disease itself.
Hirav Shah, the celebrated Astro Strategist cum Business Astrologer recently spoke at length about how the businesses are going to evolve and which are the four major sectors that are bound to grow massively in the post-COVID era. As we all know Hirav Shah Ji is making a phenomenal impact in the fields of Corporate Businesses, Politics, Movie Industry, Sports, Real Estate sector, and many more. His innovative ideas which he combines with his impeccable knowledge of astrology to create Business strategies that have been helping entrepreneurs to reach their goals successfully and in a short time.
Hirav Shah says, “During the course of this pandemic, businesses continue to be significantly impacted, liquidity remains tight and so does the scale of operations. New strategic alliances or business partnerships are dwindling during the period. COVID-19 has certainly impacted the Indian economy to a great extent. The government is focussing on meeting hyper demand for essential items like healthcare infrastructure and facilities while non-essential items are seeing a steep decline. On top of that, the restrictions on movement imposed by the Government for the purpose of containing the virus have forced many sectors to pull their shutters down.”
He further adds, “Even though the recovery of the underlying economy will be slow, now most sectors have accepted this to be the new normal. While the overall economy has taken a hit because of the government lockdown, some sectors have converted this threat into an opportunity and are set to see immense growth in the post-COVID era.”
Here are the four major sectors which will see tremendous growth in the post-COVID era according to Hirav Shah:
Digital & Internet Economy
Hirav Shah explains, “During the course of the pandemic, people have started using digital medium for work commitments, education, and entertainment. Online platforms for work meetings have seen a massive rise in popularity. Meeting and Video calling Applications have come up with innovative features making it conducive for professionals to work from home. This has also facilitated Schools and universities to start online education and assessments. The lockdown has restricted events that require a massive gathering of people like sports, music festivals, theatre, movies, etc. resulting in these sectors taking a hit. Due to which online platforms for digital content have become a huge hit with many movies and shows seeing digital release instead of theatrical release. Due to lockdown, this sector has really seen a boom time like never before.”
FMCG & Retail
As per Hirav Shah, this sector has seen a growth in this tough time. With continued fear of complete lockdown, food-based retail chains and essential commodity providers have emerged as winners. Given the heightened need for healthy food and immunity-boosting products among consumers have further broadened the scope for the companies in the product segment. These companies are revamping their growth strategies with a focus on providing a value proposition to consumers in existing categories, launching new products in the food and health categories, enhancing the direct distribution reach in the rural market, door to door services, etc. which will help them to achieve the growth in the medium term. By this, companies have been trying to broaden their product portfolio and reduce dependence on seasonal offerings.
He observes, “Leading brands like Dabur, Patanjali, Zandu, and other organic brands have launched more products and variants in the health food segment. The lockdown and social distancing requirement has forced consumer behavior to shift from eating outdoors to home-cooked food or ready to eat items. Also, the deadly virus has led to the growing need for quality immunity building products like chyawanprash and immunity-boosting health drinks. A number of these initiatives were already in the queue but as per the situation demanded these companies have taken the opportunity for the expansion and launched new products.”
Increased need for cleansing and sanitation has catapulted the demand for hand sanitizers, disinfectants, and surface cleaners. India’s largest fast-moving consumer goods (FMCG) companies have rolled out a range of home cleaning, disinfectants, and personal hygiene products as they anticipate a surge in demand for such items amid the COVID-19 crisis. Companies such as ITC Ltd and CavinKare have rolled out surface disinfectants. Hirav Shah says, “ITC has launched a Savlon-branded surface disinfectant spray, after a hand sanitizing liquid, Savlon Hexa. Also, Marico Ltd announced to launch of ‘Veggie Clean’, a fruit and vegetable wash.”
Also, the increased demand for the disinfectants, drugs, and medicines due to the pandemic, has given an opportunity to the organizations, manufacturing chemicals required for manufacturing these. Hence organizations dealing in chemicals are expected to see a spike in demand owing to increased demand for disinfectants, drugs, and medicines by the customers.
Healthcare sectors have faced hardships owing to the lockdown and all non-emergency treatments taking a back seat. But this sector shall see immense investment in the aftermath of the pandemic. The world would now realize that the threat of a pandemic is very real and investment in the sector to safeguard will be done in the near future. The rife spread of the virus has warranted people to take precautions to save themselves from this deadly disease. Demand for certain medical devices like oximeters, Personal Protective Equipment (PPE) kits, and masks have seen a rise as infected patients with mild symptoms under self-care and isolation need these basic devices for self-monitoring.
The market to the above-specified sectors is expected to see growth owing to this pandemic. Some are converting this into an opportunity by changing their product mix. New brands are coming up with essential supplies like hand sanitizers and disinfectant cleaners. While these brands are taking advantage of this opportunity, established brands that have built trust over the years are leading through this rat race.
In his conclusion, Hirav Shah says, “The world has seen something like never before. The COVID-19 crisis has ultimately led to an emergence of new FMCG products, a change in consumer behavior, and a shift in the market’s focus on health protection and hygiene. In order to get the business and economy back on track, the companies are moving forward by taking the situation of the pandemic as an opportunity. Some are coming up with innovative ideas and resultantly getting the first-mover advantage, whose impact will entertain a long-lasting impact on the market.”
“For the survival of the business, growth plays a vital role and it depends on its internal environment and external environment. A business plan can work for a few and cannot work for others. But those for whom it worked, should ask themselves whether or not the plan makes their business reach its full potential. If not, then a Business Astrologer can make it reach beyond its current status and to the height, it was meant to achieve.”