As an aviation lover, I’ve been focusing on researching and informing myself about the COVID-19 impact on the aviation industry. However, today I was looking outside our office windows during our lunch break and focused on our neighbors, a mattress company. For some months, I’ve wondered why I see more and more people in their office every day. Yes! Even with Corona, offices are full of people (of course, with masks on). And at this point, it directly hit me. I’ve missed focusing on industries having the opposite effect growing and developing during the pandemic.
Today, my blog post focuses on industries outside aviation that have had the complete opposite effect during the pandemic, which have had unexpected growth and evolved during the pandemic. I can relate to sectors based on my personal experience.
KPIs relevant for the E-Commerce Industry
I will start with one of my favorites, E-Commerce. With all the lockdowns, stores closing, and fear of people leaving their homes, E-commerce became one of the most relevant industries during COVID-19 times. I realized how much my shopping behavior has changed. I found myself one day on the couch buying from antibacterial and disinfectant products (something that I would usually buy at the supermarket before the pandemic) to purchasing home appliances new cooking pots.
- Product category distribution rate pre- and post-pandemic
- Shoppers creating accounts vs. shoppers buying as guests
- Devices most used by the buyers: Do the shoppers buy more via mobile, tablets, or laptops.
- Shopping kart abandonment rate: Which percentage of potential buyers abandon the purchase even after selecting some items. The point of kart abandonment could help identify the causes for not completing the purchase.
- Customers’ rate paying for express delivery: The percentage of customer’s paying for express delivery vs. the standard pre- and post-pandemic
- Increasing capacity required for on-time delivery: In some cases, an increase in delivery capacity, storage, and items is required, such as the increase in demand for disinfectants, in which demand was surpassing the product’s availability.
- Top 10 products per region during lockdown
KPIs relevant for the Technology Industry
Being constantly at home also meant that our work, study, and daily routine took place within ‘four walls.’ In this case, the Technology industry was thrived due to this new fast shift to remote work and learning. Online communication tools and devices are no longer considered a supplement for our daily activities but the primary resource to execute our daily tasks. It became necessary for companies and schools, which now depended on these technological resources, to continue operating. We all heard the words Zoom, Microsoft Teams, Skype, Webex, Slack more than ever before, and it became a working and learning tool and the way to also interact with family and friends.
Prospering in the Pandemic: The Top 100 Companies
Additionally, the devices such as tablets, smartphones, and laptops are also required for these tools to function. In the Financial Times article, “Prospering in the Pandemic: The Top 100 Companies”, we can see that companies such as Microsoft, with their tool Microsoft Teams increased the number of users only during the month of April by almost 55 million in comparison to late 2019. Zoom, for example, had an increase of 169% already by the end of Q1 2020. Nonetheless, companies’ digital communication has also increased cybersecurity concerns, and therefore, firms have also to make sure the security of vital information is not compromised. Therefore, there are specific measures these companies can take to guarantee the increasing demand satisfaction without diminishing the quality standards.
- Participants using the platform per hour, day, week, month, quarter, year
- Real-time active participants: How many participants are currently using the platform to identify the causes, impact, and solutions in any irregularity.
- Participants per region in the platform
- % of Corporate Accounts
- % of Individual User Accounts
- Downtime per hour, day, week, month, quarter, year
- Downtime duration: How long was the downtime
- Downtime causes: In case of a downtime, what was the reason for it.
- Security Incidents: How many times unauthorized accesses took place.
- Intrusion attempts: How many threats have attempted to access unauthorized.
- Access Management: How many users have access to administrative rights.
- Mean Time to Detect: The time a company takes to identify the threat.
- Mean Time to Resolve: The time a company takes to respond to the threat once aware of it.
- Mean Time to Contain: The time a company takes to close the identified threat.
- Damage scope: How many clients were affected, and how was the impact duration.
KPIs relevant for the Media/Entertainment Industry
Now let’s talk about Media. In my case, before the pandemic, Fridays or Saturdays, I loved to go out, enjoy a nice dinner and meet some friends. During the lockdown, all these possibilities became non-existent, and therefore, I had to find alternatives. We came up with the idea that Saturdays were going to be Netflix and Eat, yes eat! We decided to experiment with all the possible recipes we founded on Pinterest, Tasty, KaptnCook, Etc.
Once we finished with our cooking experiment and were ready to eat, the movie selection started. Now, this is where it becomes interesting. I belong to one of those families who share a Netflix account, and as we live on different continents, this was never a problem due to the time difference. Our watching schedules rarely overlapped. A few weeks into the lockdown, I see on my screen messages like ‘too many people are using your account right now. What? Oh no! I had to call my parents and brother to see which of them was watching as we exceeded the active screens’ limit. I wanted to know which of them was willing to sacrifice their Saturday midday movie or series for my Saturday evening movie. Family drama! Therefore, two weekends later, I received the following text from my mom: “Netflix upgraded! Now we can all watch at the same time. You’re welcome”. Of course! The solution has always been there in front of our eyes.
Netflix, Amazon Prime, Disney, etc…
Upgrade the plan, just with a single click—one of my happiest lockdown memories, to be honest. My lockdown weekends were solved. I wonder how many families probably went through the same discussions and decisions to upgrade their Netflix accounts, for example, or open an additional membership in Amazon Prime, Disney +, Sky, Hulu, Etc., to have endless content to watch during the pandemic? Also, for the people who didn’t consider online streaming before Corona, this option became quite appealing. According to the Financial Times article, only at the end of Q1 2020, Netflix increased 23% subscribers.
Based on this, I wonder which KPIs do entertainment industries can track.
- Actual number of subscribers
- Number of new subscribers: This can be users per week, month, quarter, or year.
- Active vs. Inactive subscribers: In some cases, users have accounts, but they have inactivity periods before deactivating. It would be interesting to understand what percentage of subscribers are inactive to take action to avoid un-subscription.
- Number of plan upgrades: How many subscribers have upgraded their plan pre- and post-pandemic.
- Users’ locations: Where are the users located, which are the regions with the highest number of subscribers.
- Client retention rate within a defined period.
- Usage rate in countries with strict lockdown
- Usage rate in countries with loosened restrictions
As in every crisis, there’s always a side who benefits and a side who’s highly impacted. It is also essential to analyze and evaluate more in detail what are the factors that impulse these industries to grow in the middle of such a situation. Of course, circumstances and conditions are very different within sectors, and some things are out of hand. However, it’s always good to analyze the positive side.
Prospering in the pandemic: the top 100 companies. Financial Times. June 19, 2020. Accessed: April 07, 2021