The 5 prospering industries you shouldn’t miss out under COVID-19
Technology: No doubt the tech industry thrives on when most of us have to study or work from home. It dominates top ten of the rank: Microsoft coming in 2nd, Apple in 3rd, Tencent in 5th, followed by Facebook, Nvidia and Alphabet.
E-commerce/Payment: Increasing relevance of online payment speculates Amazon leading as the most prosperous company during COVID-19, ahead of Paypal (9th) and Shopify (14th).
Healthcare/Pharmaceutical: Companies such as AbbVie (19th), Chugai Pharmaceutical (21st) and Regeneron Pharmaceuticals (29th) benefit from boost in sales and investments during the pandemic.
Media/Entertainment: subscriptions surged in the first quarter of 2020 on Netflix, ranked 12th, and Spotify, ranked 77th.
Consumer Goods / Cosmetics / Retail: Ranked 87th, Lululemon witnessed 70% increase in online sales of yoga products! Unilever and Loreal also stand out with its success in online sales and marketing strategies.
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Source: "Prospering in the pandemic: the top 100 companies", Financial Times
How is this relevant to your career planning?
2. Interpret the market trend: Companies aforementioned succeed due to their versatility to open up and switch to online platforms, rather than relying upon its online start-up operations. Foreseeing the ongoing mode of business online, HKCareers stresses upon the significance of considering relevant roles in Digital Banking, Virtual Banking and IT Advisory.
3. Observe employers’ organisational reaction to COVID-19: These top 100 companies such as Lululemon and Loreal have already commenced the process of Digitalization in response to the current economic climate. If the companies you are interested in applying to have done the same, this means that their executive management teams would be able to adjust its operations and strategic directions accordingly when faced with business challenges.
4. Match this rank of companies with the client base of your respective company of interest: Many of these top 100 companies do not hold large-scale recruitment in Hong Kong, making it difficult to apply for them. In fact, students interested in Banking & Finance or Consulting should pay attention to whether these 100 prospering businesses appear on the client list of banks or consulting firms you are applying to, which possibly implies guarantee of deals in the coming year. Besides, many investment banks and banks allocate industry-specific deals for different teams; for instance we previously shared that most IBDs do so according to industry coverage. Teams specialising in e-commerce, technology or health care are likely to obtain more deals!
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