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Coronavirus has dramatically shifted the world’s buying habits, and businesses are quickly adapting to the new pandemic reality, as demand for essential goods and food has skyrocketed.
Jason Kulpa, net worth expert and experienced serial entrepreneur, describes the industries that are growing during the Coronavirus Pandemic.
Here are the details
Health and Wellness
As gyms and health centers have had to close doors around the world temporarily, the demand for at-home workouts and equipment has soared. Sales of yoga mats and dumbbells have increased. Internet-based fitness programs are thriving as well, as many companies are offering 30-day free trials and live or recorded classes modified for at-home workouts.
Food and Beverage Delivery
As more and more people become hesitant to visit their local grocery stores for essential goods, delivery businesses like DoorDash, Postmates, and Uber Eats are stepping up to help with “contactless” deliveries. To help ease the economic burden on restaurants, many local governments have also allowed for alcohol deliveries.
Online Education and Remote Learning
As schools around the country have closed and switched remote learning programs, many providers have stepped up for online content delivery. While some companies took time to increase their bandwidth and number of licenses they could offer, smaller providers have stepped in to help schools get content out to the children.
For businesses that have been deemed essential, maintaining sanitation and cleanliness is their top priority right now as they must stay open for the public. Cleaning companies have seen a surge in demand for many of their products to help ensure health and safety.
As people across the country have begun stocking up on goods and eating at home more during this pandemic, grocery stores have seen an enormous increase in demand. Some retailers have had trouble keeping inventory on their shelves; as a result, local grocery stores have had to support the larger chains by sharing their stock.
Landscaping and Yard Companies
Spring has sprung across the country and people are spending time in their yards to get out of the house. With that extra time spent outside, people are gardening, landscaping, and cleaning up their yards more than ever before.
Liquor and Wine Stores
With people concerned about stores being shut down or not being able to get out, many have stocked up on alcohol for their household. Some individuals have even purchased liquor to make their own homemade hand sanitizer as a result of the shortages.
As many families have been stocking up on canned goods since they last longer than fresh foods, grocery stores have seen shortages on items like pasta sauces, canned vegetables, or soups. This has opened the door for local companies to introduce their goods and step up to provide alternatives to the big-name brands.
Meal Prep Services
With recent restaurant closures, many Americans have had to resort to cooking meals at home. Meal prep delivery services have taken advantage of this, as they know the average person’s cooking skills did not improve overnight. Instead of ordering takeout, people are turning to meal prep services to get the food they need for at home.