Market research business IBISWorld has revealed which industries could grow during the coronavirus pandemic.
IBISWorld has been gathering market insights for almost 50 years. It does analysis on 700 industries and the biggest 2,000 businesses in Australia.
According to reporting by the Australian Financial Review, some of the biggest beneficiaries during this period will be industries like data storage services, online food delivery platforms and hardware retailers.
That's obviously going to be good news for companies like Amazon and Uber Eats. Perhaps Domino's Pizza Enterprises Ltd. (ASX: DMP) could hold up better than expected. There is Nextdc Ltd (ASX: NXT) which could be a beneficiary.
IBISWorld also said that DIY projects could see a rise with people stuck at home. The obvious biggest beneficiary to this would be Bunnings (owned by Wesfarmers Ltd (ASX: WES)) which could see a 2% increase of revenue of hardware supplies. However, lack of job security is likely to make some people think twice about spending on hardware.
Any other shares that could benefit?
Aside from IBISWorld's thoughts, I think there are some industries and ASX shares that could do quite well during this period such as food businesses and companies with a sizeable eCommerce element.
Businesses like Bega Cheese Ltd (ASX: BGA) and Costa Group Holdings Ltd (ASX: CGC) could see rising demand and yet they're still cheaply priced, particularly after the recent drought.
Shares like Kogan.Com Ltd (ASX: KGN) and City Chic Collective Ltd (ASX: CCX) could be well placed with their online sales.
Three other shares that seem like obvious growth ideas during these times are Fisher & Paykel Healthcare Corp Ltd (ASX: FPH), ResMed Inc (ASX: RMD) and Pushpay Holdings Ltd (ASX: PPH).
Foolish takeaway
I think there are plenty of ASX shares that don't face the same gloom that most others do.
