Disclaimer: The views expressed in this article are those of the author and do not necessarily reflect the views of the Economic Times – ET Edge Insights, its management, or its members

Business Growth 3

As the wave of coronavirus outbreak has captivated everyone behind the closed doors, some entrepreneurs, while thinking out of the box, have found avenues with regards to conducting and growing business online. Just as the lockdown started in March, the world witnessed mass panic purchases of essentials. The monotony of remaining indoors and restricted menus led people to explore the availability of food cooked in clean, hygienic atmospheres complemented with no-contact deliveries.

The cascading effects of this were such that it opened opportunities for chefs and working aspirants to provide public, doorstep deliveries. Home bakers saw an all-time high about the number of orders they received in a week. All home-kitchens are obliged to follow no-contact deliveries and have gloves, hair nets whilst they’re in the kitchen at all times.

Hindustan Times spoke to a few home-bakers in South Delhi, one from them named Nidhi Bahl who runs Indulgence Cakery pointed out that, she had to cancel large orders eventually due to availability of limited resources. However, she took time out and figured new recipes which gave her a great learning experience.

Interestingly, Hershey India, known for their chocolates, have witnessed a sharp rise in the sales of their grocery portfolios, which consists of syrups, spreads and cocoa powder. This has occurred right after the first phase of lockdown, as people are looking out for attempting at home-baking activities, says a company official. According to Nielsen, a market-research company, sales in France of flour surged by 160% year-over-year in March, ranking it among emergency essentials such as rice (160%), pasta (200%) and soap (220%).

Sectors flourishing amidst lockdown

In May, BBC released a video speaking to a few founders of different fields about their business in the current times. Vikash Jaiswal, Founder of Gametion Technologies, pointed out that the gaming sector has soared high and excelled in participation. Talking about their application, “Ludo King”, the game had rough participation of 13-15 million and during Covid alone, has reached a whopping 50 million benchmark. They have also seen a five-fold rise in their revenue from these gaming applications. Another industry that has seen a surge is, learning management system. Founder of Illumns, Akash Singhal told BBC that it was difficult to find a single client for a duration of two months. Post-Covid, there has been an increase of 1200% of demand in terms of clientele perspective. People are now looking for online generation of content, online quizzes, video conferencing classes and much more.

With parents supporting homeschooling and online classes subscription in these times, educational apps like Byju’s, Vedantu, to name a few, are also witnessing a high rise in terms of usage and revenue.

In conclusion

Post coronavirus outbreak, specific fields have genuinely emerged and excelled in their businesses whilst some are coping with the new normal. The world, as a whole is in an insurgent need to lead back lives right where we paused, and only with efforts shall we be able to rise back at the top of the pyramid.

 

 

 

 

 

 

 

 

 

 

Sources

Statista

https://www.hindustantimes.com/more-lifestyle/sweet-nothings-home-bakers-whip-up-and-deliver-delights-amid-lockdown/story-TWrXPwHw4OQenidCYMNqEM.html

https://www.economist.com/graphic-detail/2020/04/08/home-baking-is-on-the-rise-thanks-to-coronavirus-lockdowns

Disclaimer: The views expressed in this article are those of the author and do not necessarily reflect the views of the Economic Times – ET Edge Insights, its management, or its members

1 Comment

    • Prashant Sutaria -

    • September 22, 2020 at 22:16 pm

    Very interesting facts and figures are highlighted. There is other side to the problem which we see here . Great article.

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