Covid-19 has had a devastating impact on the American economy. However, many businesses were able to survive and even flourish either by expanding or adjusting their products or services to meet customer demand. Let’s see what businesses have blossomed this year.
Food take-out and delivery became the order of the day. As indoor dining was shut down and people were forced to shelter in place, demands for preparing food and getting it to the consumer as quickly and safely as possible were skyrocketing. Along with the flourishing businesses of Pizza Hut and other top brands for meal prep and delivery, small restaurants also jumped in on this trend as a means of surviving and maintaining.
Grocery stores grew rapidly with the demand of consumers cooking more at home and stocking up. And this led to large and small groceries alike experiencing growth. With people now wanting to stock up on canned and jarred foods, a lot of small businesses have seen the opportunity to increase their inventory of products, thus growing their businesses.
Here’s one you may not have guessed – used car sales increased. As Americans attempted to social distance, they avoided public transportation and opted for the safer space of a used car to keep away from strangers. Amazing!
On-line retailing fared extremely well in the pandemic. While on-line shopping has been on the rise in America, it received an impressive boost as a result of closings and stay-at-home orders. Companies like Amazon, GrubHub, Walmart, Wayfair and Target, to name a few, rose to the challenge. As did numerous delivery services who flourished as they stepped up to make sure that all the goods ordered on-line could be delivered to homes and businesses.
Another business that has grown is home health companies. You may have not considered this one, but as Americans, mostly seniors, were trying to avoid hospitals, emergency rooms, doctor’s offices and nursing homes, they turned to home health providers. Visiting Nurses, Senior Helpers and other in-home care agencies have experienced greater demand and growth.
We can also report that liquor stores received a boost in business, as did in-home entertainment. Netflix reportedly added nearly 16 million new subscribers during the first quarter of 2020, as people searched for entertainment options when normal venues were shut down. Furniture businesses grew as people added in-home offices and/or adjusted living spaces. Fitness equipment turned residences into home gyms.
It didn’t take Americans very long to figure out ways to cope with all the restrictions placed on them due to the Covid virus. I’m sure you can think of many more business that were created from or grew out of the pandemic!
Have a great weekend!