Asia’s Businesses That Survived or Affected by COVID-19
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List of industries staying strong and losing bucks while global pandemic COVID-19 attacks the world released by IMARK International, a multifaceted network of international agencies focused on marketing and technology
As coronavirus outbreak began in China in December 2019, almost all Chinese-owned companies from all industries had already notified IMARK network and its sister companies throughout Asia and Europe that scheduled face-to-face meetings in the first quarter of 2020 were canceled—and that all meetings had to be done on Webex, Zoom, and Google Meet.
In the first quarter of 2020, millions of companies were on the brink of collapse. The reason? Their business system failed to address challenges surrounding attack of a global pandemic. What about the rest? Their business presence online and their ability to continue operations virtually with all their employees working from home saved them from the worst situation—termination of their employees due to plummeting sales and ongoing expenses.
List of Industries & Businesses Benefiting From COVID-19
These businesses survived the first quarter of 2020 and remain strong in the middle of the second quarter while coronavirus pandemic is causing devastation across Asia and the world is still at crisis level.
As most Asians have not been going out to shop, billions of them are already moving online to purchase all their necessities. In terms of logistics, both delivery trucks and motorcycle riders are usually benefiting from this emerging market. In addition, some marketplaces are using drones to deliver items across the cities and towns.
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Online Gambling / Online Gaming
Despite coronavirus sports lockdown that prevented regular gamblers from betting on live sports, the number of gamblers resorting to online casino games and slot machines has dramatically increased. According to IMARK Ads and IMARK Search Engine Optimization Team for Asia, the PPC advertising and marketing arms of IMARK International, traffic to the online casino sites that Ads Team and SEO Team have been managing suddenly increased by 4,700% (lowest traffic) and 29,200% (highest traffic) as of April 30, 2020. Based on the team’s SEO report, several new brand keywords received the highest number of clicks, leading them to alert their clients and partners to make all the necessary updates in their online casino websites to be able to provide the new products and services in demand.
Logistics / Delivery Services
With the world’s governments ordered their people to stay at home, products and services were delivered while observing the “no-contact & drop-off” policy. Millions of truck owners, drivers, and motorcycle riders have been benefiting from this move.
While hotels that provide services to the general public are victims of the global pandemic, Asia’s one percenters have been staying in island resorts, villas, luxury hotels, palaces, and castles they booked for their entire family and staff prior to the spread of the virus globally. According to Luxe Societas, Ultra-Premium Luxury Concierge for HNWIs, their luxury concierge received booking requests from both HNWIs and UHNWIs in December 2019 to clear their chosen places for them so they would be able to isolate themselves in remote and most exclusive locations where all their necessities have always been available.
A lot of pharmaceuticals now are actively working on testing kits, treatment drugs, and vaccines. With seven billion people witnessed the effects of coronavirus pandemic, more and more companies are expected to produce vitamins against virus, which will be sold in the coming months around the world.
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List of Industries & Businesses Affected By COVID-19
IMARK reached out to the network in Asia and conducted interviews with business owners and executive officers. These businesses failed to survive the first quarter of 2020 and remain inoperative in the middle of the second quarter while coronavirus pandemic is ravaging across Asia and the world’s economy is collapsing.
As international and even domestic flights were restricted by respective governments, mass layoffs among airline companies were rampant. Advertising and marketing budget by airline companies for the first and second quarter were reduced by 50% resulting in IMARK Digital Marketing to defer many paid campaigns, affecting hundreds of third-party partners throughout Asia.
Unfortunately, the demand for cars is decreasing since every country in Asia implemented lockdowns. In addition, automakers faced supply chain disruptions in the first quarter, specifically imported parts from other countries. With millions of expected customers now on furloughs and jobless, car manufacturers lost revenues. Advertising budget is now allotted to content marketing and online reputation management expecting that competition in automotive industry will more likely to be tough once countries lift their lockdown orders—the better reviews and endorsement, the greater chance of target customers to buy cars.
Because of supply of equipment and materials was disrupted, construction companies laid off their workers, where majority of them are from the lower class of society. Revenues, therefore were affected.
Mass gatherings of people were banned by respective governments in Asia, which led to cancelations of events and tickets, affecting organizers. Not even the most expensive conferences like Moola Forum, Asia’s most exclusive ultra-premium forum, were spared.
More and more cruise ships scheduled to travel by mid-February were ordered docked in ports across Asia to avoid misfortune of other ships in limbo due to many passengers tested positive of the virus and no foreign country was willing to allow them docked and taken to local hospitals. Just like the airline companies working with IMARK, their budget allotment for advertising was also reduced to 50% and the other half was instead allotted to other digital marketing campaigns such as SEO.
Again, with government’s stay-at-home orders many celebrities and fashion models working with IMARK network, especially Sothyal Influencers, were unable to record scripts in various locations across Asia. Also affected by actors’ inability to go out are videographers, photographers, and the rest of the crew.
Most countries in Asia imposed restrictions on restaurants hosting dine-in customers. Caterers were banned from providing their services due to stay-at-home orders. This resulted in many workers losing their jobs, which affect spending power of the people.
This billion-dollar industry in Asia is now in jeopardy after respective governments ordered closure of gyms following the lockdown policies.
With millions of expected customers staying at home, demand for hotels has declined, affecting revenues in the first half of the year, and thus resulting in many furloughs and total layoffs. Same with airlines, advertising and marketing budget for the first half of the year was cut to 50%.
Many sports leagues were postponed in the middle of the first quarter, affecting ticket revenues and non-ticket revenues such as merchandise, parking, concessions, etc. Also affected are online gambling, specifically sports betting, which are too popular in Southeast Asia. This resulted in IMARK Ads to cut the budget allotted to sports betting and strategically reallocated the cut budget to other online gambling and online gaming categories instead
Oil and Gas
Because every city in Asia has been in lockdown since February, the demand for oil and gas has declined. Hundreds of suppliers and retailers relying on IMARK technology’s Ecommerce System for oil and gas trading are affected.
Government’s stay-at-home orders prevented private investigators from performing their job. Also affected by private investigators’ inability to work outside are extra assets in the field as well as lawyers on demand. Private investigators are supported by IMARK Security Technology’s CCTV & Aerial or Spaceborne Surveillance Systems.
Millions of retail stores have closed, affecting the billion-dollar revenues from various non-essential industries, which also led to termination of millions of workers across Asia.
Sex Doll and Sex Toy Companies
Asia’s growing companies that manufacture sex dolls and sex toys for personal consumption of clients or individuals not only in Southeast Asia but also in Gulf Region were hit. IMARK Ecommerce System and its advertising & marketing arms continued to support their campaigns, but logistics service providers were banned from accepting non-essential items.
With a lot of ports in Asia closed and factory workers sent home because of the global pandemic, the revenues of the shipping industry in the first half of the year has dramatically decreased. Changes were made in the budget for digital marketing, and most were allotted to technology assets such as revamping their web-based systems, mobile apps, and software programs for in-house usage.
Sports Equipment Manufacturers
With drops in orders from schools and sports leagues due to shutdown of universities and professional institutions across Asia, most companies that sell sports terminated their employees in the middle of the first quarter of the year. IMARK Ecommerce System supports these manufacturers.
Technology & Hardware
A number of factories across Asia have been in lockdown since late January, affecting production of smartphones, video game consoles, and other important devices we use on a daily basis.
Every country in Asia has theme parks. With all cities in lockdown since late January, no revenues from the guests were collected.
With almost all Asians stayed at home during quarantine period, taxi and ride-sharing services were not able to generate their expected revenues in the first half of the year.
Take note that we are updating this list regularly. Visit us again next week, as we may add more industries and businesses that you will be interested to know more about.