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)
pasta, rice, potatoes … everything that lasts for a while