To a large extent, the business pages have provided as grim reading as the rest of the news media over the past few weeks. Shops and restaurants are closed, events cancelled, public transport running a skeleton service and all but essential construction work postponed. As a result, the word furlough has suddenly entered our everyday vocabulary and economies around the world are looking down both barrels of a looming recession.
Look a little closer, though, and there are some industries experiencing the diametric opposite. Supermarkets have reported sales that are significantly higher than forecast, while the healthcare sector is encouraging experienced professionals to come out of retirement to help meet demand. Likewise, there are areas of the tech industry that have seen dramatic spikes in demand and sales.
Everyone is playing games
It’s a pattern that was first observed in China when all this kicked off. Game downloads in February were up an incredible 80 percent compared with the whole of 2019. As lockdown rules were enforced across the rest of Asia and then in Europe, an identical pattern arose.
There has already been no shortage of discussion on gaming’s growing importance in the leisure sector. It provides a more immersive and engaging experience than simply watching a TV show or a movie, and that’s proved to be exactly what people have needed in these difficult times.
The trend has been consistent across multiple genres within the overall gaming sector. RPGs, for example, offer hundreds of hours of entertainment in a fantasy world. Could there ever be a better time to give them a try? Games like Final Fantasy are enjoying a resurgence, but at the same time, developers are rushing new titles like Cyberpunk 2077 and Wasteland 3 to early release in order to meet demand.
Virtual nights out
With pubs and clubs closed and Las Vegas in lockdown, the opportunities for those who can offer a virtual night out are significant. The most obvious example here are those online platforms that offer realistic virtual casino gaming. As well as the usual slots, card games and so on, many are promoting the concept of live dealer experiences. Here, players can interact with a real croupier at the blackjack table or roulette wheel, just like they would in a real casino.
The idea of a virtual night out has expanded beyond the world of casino gaming, however. Teleconferencing platforms have found themselves facing exceptionally high demand, but from the most unlikely angles. Virtual parties have become a major trend, especially in the UK, which has been in lockdown since 23 March. For example, one family threw an online fancy dress party that welcomed thousands of online guests.
Promoting ecommerce
Many of those businesses that have been adversely hit have been forced to rethink their strategies, and to do so quickly. Getting their businesses online is an obvious solution, and the urgency with which they need to do so has meant that many tech support businesses are busier than ever.
These include web developers, digital marketing consultants and even content writers, who are in urgent demand to help those businesses that have traditionally had an offline focus to build a digital presence in record time.
It is only a matter of time before the current crisis passes. However, its commercial impact, for better and for worse, will continue to be felt for years to come.
