Companies making Money from Coronavirus Fears
As bars, restaurants and businesses are ordered to close across the country, some companies are actually profiting from coronavirus fears. These businesses are seeing huge spikes in revenue as the nation continues to panic. The new normal for families across the country includes self isolation. That’s creating a new “Homebody Economy that is exploding! Businesses that cater to staying at home are benefiting with big numbers as they see a huge spike in demand.
Amazon is one of the companies that is expected to benefit the most from the coronavirus pandemic. As the largest virtual marketplace in America, more people are expected to order from the online retailer in the coming weeks and months. When families are told not to leave their home, Amazon is one of easiest places to get products like toilet paper and hand sanitizer that has been flying off conventional store shelves. The e-commerce giant can also get the products to customers quickly if they have Prime. So families can continue to self isolate while meeting all of their shopping needs.
Netflix is also also expected to take advantage of more people being at home. Many in self isolation are choosing to binge watch series and movies as leaving home is no longer an option in many places across the country. Social media is full of questions from people asking what program is worth watching to pass the time during the day and night. Netflix may also be able to capitalize on the cancellation of film releases, concerts and other events that families rely on for entertainment.
Everyone at home has to eat! That explains why Campbell’s soup is experiencing a huge spike in demand. The company has already started to beef up soup production as people swarm grocery stores to stock up on non perishable items like soup. Other companies that cater to items included in pandemic pantries are also expected to do well.
Costco, Kroger and other Grocery Store chains
Grocers are seeing blockbuster sales, as consumers continue to stockpile items fearing a widespread coronavirus outbreak in the U.S. Kroger, Safeway and King Soopers grocery stores are seeing a massive spike in sales as they continue to sell more staple goods. Many companies released photos of their warehouses to let consumers know they are prepared to keep filling shelves as quickly as customers empty them. They are also said to be among the few companies actually hiring to try to keep up with the demand.
Instacart and other Grocery Delivery Services
Grocery delivery companies are experiencing a huge swell in demand for membership. Many grocery delivery apps have begun seeing record numbers of daily downloads. Families are choosing the ease of ordering groceries from their computer as a way to avoid crowded stores and comply with social distancing as much as possible. Many of these companies have also implemented “contactless delivery” to reduce the exposure to workers and families. Food couriers will drop off orders at your front door or a designated location in advance to reduce human contact.
Grubhub and UberEats and Restaurant Delivery Companies
Restaurant delivery companies are experiencing a wave of new business, as new social distancing mandates prevent families from dining in restaurants. The closures and restrictions will likely drive customers to order food delivery. Delivery companies are also striking a deal to waive commissions for businesses that want to join its platform. This move is expected to help restaurants that have fallen victim to the mandates and as a way to keep their doors open. Restaurants are promoting that alternative for customers. Food-delivery orders increased in China in January when the pandemic first hit and more people were forced to eat at home.
Peloton and Fitness Equipment makers
Athletes are looking for ways to stay fit as the coronavirus pandemic closes gyms across the country. So, Peloton and other home fitness equipment makers are expected to cash in. Peloton is offering new users a 90-day trial of its subscription workout app as more gyms shut down in response to the coronavirus pandemic. The free app does not require a Peloton bike or treadmill. Users can choose from classes including yoga, meditation, strength training and more.
Procter and Gamble and other Toilet Paper manufacturers
America’s obsession with toilet paper is unprecedented during the coronavirus pandemic . The largest consumer staples company in the world is Procter & Gamble and they are expected to benefit greatly from not only a toilet paper craze, but also diapers, toothpaste, shampoo, and cleaning products that they manufacture.
The company is home to many familiar brands across a wide range of household products. These also include Tide detergent, Comet cleaners, Bounce dryer sheets, Head & Shoulders shampoo, Crest toothpaste, and a number of other familiar household brands. All of these items families should be using more as they spend more time at home. Kimberly-Clark is another company that is poised to benefit from the coronavirus impact. The company manufactues Cottonelle toilet paper brand, Kleenex tissues, Depends pads, Huggie’s diapers, and Scott’s paper towels, among others.
Purcell and Hand Sanitizer Companies
Consumer demand for hand sanitizer has soared as many places like Walmart, pharmacies, and Bath & Body Works are sold out. Purell bottles on Amazon are either unavailable or marked up ten-fold in some cases to meet the demand. Hand sanitizer was one of the first products families began to stockpile when news of coronavirus first hit. Demand reached the point that people are considering making their own at home. Companies that manufacture hand sanitizer have ramped up production running extra shifts and hiring temporary workers to meet the demand. Some companies are even rationing sales to stores to protect the supply for hospitals.
Bottled Water Companies
Bottled water has been flying off shelves just as fast as toilet paper. General emergency preparedness encourages a two-week supply of bottled water as well as food and medicine. But experts say this may be an unnecessary purchase as COVID-19 has not been detected in tap water. But, experts do say if a person in your household is sick, drinking water from a bottle is more sanitary than from a cup or a reusable water bottle that’s not washed as often.
Zoom and Video Conference Service companies
Millions of people under lockdown are now turning to digital means to continue with their daily life. Zoom has emerged as one of the most important tools in the fight to educate students and help business keep working as the outbreak of coronavirus empties classrooms and offices around the country. Demand for Zoom’s software, which facilitates virtual conferences and web meetings, is exploding as the virus is prompting office closures and meeting cancellations. Business conferences, college courses and even children’s playgroups have all moved online as people worldwide heed calls to stay away from one another. Zoom ranked No. 3 in the top free apps on Apple‘s App Store, ahead of Netflix, Google’s YouTube, and Facebook’s Instagram. Zoom was the top free app listed on Apple’s App Store in the U.S. Zoom has also removed the time limits from complementary accounts for users in areas affected by the outbreak. The company removed any limitations for public schools in Japan, Italy, and the U.S., with more countries being added.
Toilet paper hoarding in the US is boosting sales of Bidets. As toilet paper becomes scarce, some families are turning to an alternative method of tidying their tushes, bidets. Sales have jumped substantially and seem to be increasing by the week according to companies that manufacture the toilets. They says the more news of toilet paper shortages, the better they do. The bum cleaning toilets are popular another countries, but sales in the US have not been as widespread, until now.
The more people are at home, the more people are cleaning. It’s one reason Clorox’s stock is surging! Clorox and all of their products including disinfectant wipes and bleaches, as well as Pine Sol cleansers are flying off shelves. In addition to cleaning, Clorox also has several other mid-sized product categories such as grilling, trash, and lifestyle products like water filters and lip balm. A more-stay-at-home economy that lasts into the spring and summer means more people could be grilling at home. Families will also need more trash bags and everyone will be cleaning surfaces a lot more with Clorox’s cleansers and wipes.