Industries doing well from COVID-19
July 2021
The COVID-19 pandemic has presented a range of challenges for businesses in the UK resulting in financial hardship for many. However, a lot of industries have managed to still be successful during the pandemic and in some cases thrive, creating high levels profit in their respective sectors.
The sectors that have tended to do well during the pandemic include:
- Health care
- Family law/legal services
- Infection Control
- Technology
- Online retail
- Online education and training
- Entertainment
- Fitness and wellbeing
- Eco-friendly
The Office for National Statistics recorded total retail sales volumes falling by 1.9% in 2020, compared with 2019. However, overall, online sales rose to a record high of 33.9% as a share of all retail spending. Guy, George, Alannah and Galen Weston and family, stalwarts in the retail sector, saw a rise in £470 million (m) in profit and giving the Weston family a ranking of number 10 on the Rich List. This is the family behind stores including Selfridges and Primark and of course key players in the Garfield Weston Foundation. Stephen Rubin and family, also from the retail sector, made it onto the Rich List, ranking 23rd. The family are best known for Sportswear: Pentland and JD Sports. Home workouts were very popular during the first pandemic, with many people taking to online retailers to buy sports clothes to work out in at home. Stephen Rubin and family were able to capitalise on this, as they generated a rise in profit of £2.169b.
The Office for National Statistics recorded total retail sales volumes falling by 1.9% in 2020, compared with 2019. However, overall, online sales rose to a record high of 33.9% as a share of all retail spending. Guy, George, Alannah and Galen Weston and family, stalwarts in the retail sector, saw a rise in £470 million (m) in profit and giving the Weston family a ranking of number 10 on the Rich List. This is the family behind stores including Selfridges and Primark and of course key players in the Garfield Weston Foundation. Stephen Rubin and family, also from the retail sector, made it onto the Rich List, ranking 23rd. The family are best known for Sportswear: Pentland and JD Sports. Home workouts were very popular during the first pandemic, with many people taking to online retailers to buy sports clothes to work out in at home. Stephen Rubin and family were able to capitalise on this, as they generated a rise in profit of £2.169b.
The technology sector was also seen helping to predict, mitigate and contain the spread of COVID-19. It was also essential to the transfer of work from the office to home and social life from virtual to online. So, it is no surprise that it is one of the most profitable sectors in the last 12 months. Sir James Dyson and family who are a part of this sector are currently ranked 4th on the Rich List. The family is best known for their household goods and technology product Dyson. In the early days of the pandemic, Dyson showed how dynamic an industrialist he could be, designing and building the CoVent ventilator used to tackle Covid-19, in just 30 days. Although the ventilators were then no longer required in the UK it shows the flexibility that some companies were able to bring to their response to the pandemic. Nevertheless, Sir James Dyson’s total wealth in 2021 amounted to £16.3billion which included a £100million increase from 2020.
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