In midst of the pandemic and ongoing chaos in the world, I couldn’t help but wonder if any business is benefiting from all this at the moment?
We know that every day, more and more people are filing for unemployment and a lot of small businesses already had to close indefinitely.
I walked through the streets in the center of Hanoi after the lockdown was lifted and what used to be a bustling boom area, is now almost a ghost town that even Hanoians barely visit.
When looking at the stock market, the majority of businesses are going downhill, but yet, there are a few who actually swim against the stream. Especially after looking at my own online store and seeing declining sales, I was curious what people look for when the world is turned upside down.
Here are some ideas:
Essential businesses are king
- supermarkets are still open to ensure food supply and cover basic needs for society
- bakeries are still doing well even with people starting to make their own bread
- amazon is thriving because everyone is shopping online (basic goods)
- eCommerce with essential goods
- shopify is exploding
Popular product categories
- who would have thought that toilet paper would become the most valuable product in the western world
- flour (home made bread is popular)
- canned food
- pasteurized milk
- pasta, rice, potatoes … everything that lasts for a while
- masks and hand sanitizers
- home office supply : height adjustable tables, office chairs, external monitors, etc…
- home fitness tools: resistance bands, dumbbells, etc…
- microsoft teams
- house party
- elearning platforms
- online courses
- meditation courses
- DIY platforms
- video streaming (netflix, disney+, youtube)
- delivery services (grab food, Uber eats, etc…)
Industries that are hit the hardest
- entertainment (cinema, concerts, amusement parks)
- hotels and hostels
- traditional restaurants
For further investigations, here is a cool website I found that tracks popular search terms across the web: COVID-19 Trends