Australian industries which will take on more responsibility during the COVID-19 pandemic

The reality of the current pandemic has hit us incredibly hard, and incredibly fast. As we adjust to social distancing, remote working and the fact that life will likely be different for some margin of time, we simply move forward with our adjusted reality and adapt.

With this in mind, a lot of investors are looking towards the market and estimating that initial panic should subside and an ‘adjusted reality’ will present itself, like in crises before it. In similar instances of economic downturn in the past, there have still been high performing sectors, born out of economic necessity.

With many sectors losing in the current crisis, longevity is something that people are naturally concerned about. However the reality of our economy is that people must continue to trade for goods and services, and at the moment, some of those are more in demand than ever.

While in some cases, entire industries find themselves at a crossroads, others may see themselves presented with an opportunity in the next 12 months to consolidate their position.

Not all sectors are equally exposed to risk. Many businesses will make it to the other side, and some might find a way to grow and prosper through the crisis.

According to an IBIS World Special COVID-19 Report for Australia, “Some subdivisions, such as the Grocery, Liquor and Tobacco Product Wholesaling subdivision, are set to see an increase in demand from the effect of the COVID-19 outbreak. Similarly, operators throughout the food, beverage, sanitary and cleaning product supply chain have seen a significant increase in demand for products, as a result of COVID-19.”