Posted by Shivali Anand
December 2, 2021 | 3-minute read (618 words)
As the pandemic slowed the economies of countries worldwide, many industries not surprisingly reported lagging sales. However, not all businesses experienced a drop in sales. In fact, as the pandemic took hold, some industries saw interest surge. Take a peek at the five sectors that fall in this category.
Pediatric teletherapy
Everyone is stressed by the pandemic, but getting mental health support is even more challenging when social distancing is a concern. Enable My Child, based in New York, saw "huge demand" for its technology beginning around March 2020, according to creator Syed Mohammed. The company's technology employs artificial intelligence to provide early intervention programs for children's mental health, speech and occupational/physical therapy.
Enable My Child collaborates with states, schools and counties to deliver its services and has also been approached by private therapists who want to provide remote therapy choices. According to Crunchbase, the company received over $1 million in venture capital in August 2019 and had a 300% increase in revenue year over year in 2019.
Mobile order/delivery services
Seattle, the heart of the U.S. coffee industry and home to Starbucks, is also the location of software startup Joe Coffee. Local coffee shops can use the company's mobile ordering/rewards app to compete more effectively against chain coffee shops. CEO Nick Martin told GeekWire that the company had been "totally overloaded." What is the explanation for this? Local businesses are attempting to provide social distancing choices while being profitable, and the company's technology enables them to do so.
Businesses like Domino's, DoorDash, Amazon and Instacart, which transport foods, groceries and other products that people need but had limited access to because of social distancing requirements, are examples of this.
Medicinal marijuana
According to estimates, medical marijuana sales increased by over 20% in March 2020 as the pandemic set in, setting a new high. According to The Philadelphia Inquirer, customers who feared losing access to cannabis went to dispensaries to stock up in case closures were looming.
According to one dispensary owner in Washington, D.C., not only are more clients visiting these locations, but they are also buying more at a time. According to Washingtonian, such establishments ensure that customers take social distancing measures by restricting the number of individuals permitted at any given moment.
Fresh meat, sanitizer and other grocery products
According to IRI data, meat department sales increased nearly 77% in March 2020 as shoppers flocked to supermarkets. According to Agweb, beef sales increased $376 million, while chicken sales increased $183 million.
Turkey sales increased by more than 96%, while fresh pork sales increased by more than 85%, per IRI. Americans "panic purchasing," or hoarding up in preparation for a lockdown, was largely responsible. However, those weren’t the only products flying off the shelves in the grocery store. According to Nielsen data, hand sanitizer sales increased by 470% in March 2020, while aerosol disinfectant sales increased by 385% and bath/shower wipes sales increased by 180%, according to NPR. According to the research, sales of the old reliable toilet paper increased by 60%.
Materials for self-defense
Many people have stocked up on self-defense supplies, such as handgun ammunition, due to the coronavirus outbreak. According to CNN, revenue on Ammo.com increased by 309% from February 2020 to March 2020. Some states, such as Delaware, account for a larger share of that business, increasing by 4,529%.
Gun sales also surged as people felt a greater need to defend themselves. To put it into context, consider the following: In 2019, the U.S. Department of Justice conducted roughly 380 background checks every day. According to the Milwaukee Journal Sentinel, that number reached 1,943 on one day alone in March 2020.
