These Industries Are Now Booming Because of COVID-19

Video Conferencing

This is a no brainer. You have probably spent at least a few hours on Zoom, Google Hangouts, or maybe even WebEx (eeeww).

While millions try to stay in touch with co-workers and family these services have been exploding. Zoom, for instance, has seen unprecedented revenue growth in the first quarter of 2020. Recent estimates are for fiscal first-quarter revenue to be between $199 million and $201 million – putting them somewhere around at 60% year over year growth.

Obviously there is some uncertainty if growth can continue at this rate after the Coronavirus pandemic blows over (if it ever does), but the future is bright. If nothing else this niche got a sweet load of cash the pump back into their tech and marketing budget.

Growth may slow, but these guys are just getting started.

Meal & Grocery Delivery

With a total of 43 U.S states implementing stay at home orders more and more are relying on delivery services for their meals and basic home items. Its no surprise delivery services both large and small are being overwhelmed with orders.

Several of the big players are going all in on the circumstances. For example GrubHub is now pushing their tugging at their users hearts with a marketing campaign around saving your favorite restaurants.

Depending on how you look it this may be great marketing or capitalizing on others misfortune. This article on TechCrunch seems to think so at least.

Grocery Stores

Even though the toilet paper isle is empty grocery store chains are killing it right now. Keyword – right now.

Since they are the light in a dark tunnel of closed businesses, customers are flocking into to stock up on everything. Well mostly toilet paper.

Either way, sales in the first quarter for many grocery chains is up 30-60%. But analysts say this will be a short-lived phenomenon. By the end of the year, it’s expected that the fiscal bump from the pandemic will only be an 8-15% bump on the bottom line.

Liquor Stores

What happens when you stop Americans from going to their favorite bars and restaurants and lock them up in their homes. Apparently they drink their faces off.

Rock on party people.

The week of March 21st saw a 55% jump in U.S alcohol sales and a 75% increase compared to the same period last year. This has been boosted with two other items on this list. Delivery services like Drizly (your welcome) and online drinking parties hosted on video conferencing software.

We should note the World Health Organization has said that alcohol is an “unhelpful coping strategy” for those in lock-down. I bet they’re fun at parties.

Board Games

Guess what else sees a bump from people sitting around the house drinking all day – board games.

Games like Pandemic (you think they knew this was coming?) and Settlers of Catan have been flying off shelves. But, that’s not necessarily new. With all the hipsters bringing back vinyl and vintage books, board games have been working their way back to the coffee table.