Our behaviour has changed! We can’t go out to a restaurant and we can’t see friends or family. Some of us can’t go to work…some of us no longer have work. Some businesses have suffered! They lost all their customers overnight… However, some businesses are thriving and have more customers than ever… We have found some of the companies that are thriving right now.
Now that many are forced to work from home – any company supporting a home office will be doing great. The tech giant – Microsoft and their workplace chat app has recently exploded!! A month ago Teams had a modest (cough, cough) 44 million daily users. Now that number has exploded to 75 Million daily users.
Similarly, the video conference/online meeting tool Zoom has also exploded. Zoom offers a free and more consumer-friendly version. Zoom has been popular outside of the general workplace meeting environment – 90,000 schools are using Zoom to host classes remotely. In March Zoom hit a staggering 200 million daily users!! To put this into perspective, last year their max daily users were 10 mil. It should be mentioned, there has been talk that Zoom has fudged the numbers a little bit.
No surprise, if you’re like me you have been watching A LOT of Netflix (or your prefered streamer). And as a result, Netflix has experienced huge growth. Netflix added 15.77 million paying subscribers thanks to Covid-19. This is nearly a 23% growth, taking their total subscribers up to 182.86 million. Because they are a public company – their shareholders are happy!!!
Now, we can only look at a screen for so long with going ‘crazy’. If you’ve looked out a window recently, you may see that the streets have been filled with people exercising. And guess who has benefited… Pushbike companies! Australian bike and accessory market place ‘Bike Exchange’ recently saw a 300% uplift in sales year on year.
It’s not just all the big players seeing success in these hard times. Many local businesses have found a way to thrive or pivot. Some Distilleries adapted and begun producing hand sanitizer. Sydney’s Archie Rose Distilling Co sold out of 4,500 bottles in under an hour!
Do you know of a local business making the most of a bad situation? Let us know, we would love to hear their story!