COVID-19 has been awful for most Americans.
They’ve lost loved ones, lost their jobs and been stuck at home for over a year.
But for certain companies who offered crucial services during the pandemic, the virus has been a real stroke of luck.
This is especially true in the case of video web conference services like Zoom, delivery services like DoorDash and other companies including Etsy, Lowe’s, Best Buy and more.
Now President Biden says there should be enough vaccines for everyone by the end of May and life is slowly starting to potentially return to normal.
Now that people are set to regain some of their freedom with going out to restaurants and going to work in person in the coming weeks and months, companies like these and more are thinking about how they can still remain profitable.
When Will Things Get Back to Normal?
The Centers for Disease Control and Prevention now says that if you’ve had both doses of the COVID vaccine you can meet up in private without masks or “social distance.”
(Thanks for the freedom allowance, CDC, I wasn’t aware that we had replaced the Constitution with your edicts.)
Places like Lowe’s and home improvement stores saw a big jump, with people doing projects at home and keeping busy during the lockdown.
“2021, to state the obvious, is a very difficult environment to forecast,” said Lowe’s CEO Marvin Ellison.
Meanwhile stores like Best Buy which have seen massive spikes in online sales, are laying off more employees, since even if things continue to go well they think more and more people are now accustomed to buying online and it’s less important for them to have in-person physical stores.
Delivery services such as DoorDash saw huge spikes due to bans on eating at restaurants. In fact, DoorDash more than tripled sales in 2020.
Many people who’ve been enjoying takeout will continue to order, certainly, but there’s no doubt that as folks get back to normal these businesses are going to see a slow down.
Then there’s tech companies like Zoom which have had a massive gold rush during the pandemic, and online stores such as Etsy whose sales doubled in 2020.
“We also know, we hope, that as the world opens up later this year, consumers will soon be able to spend more of their money on travel, dining and entertainment, and this will create some headwinds to Etsy’s growth relative to 2020,” said Etsy financial head Rachel Glasser.
— DoorDash (@DoorDash) February 26, 2021
Slowdown for Amazon?
While some economists say an overall improving economic comeback would be good for everyone including the tech companies, others say that companies such as Amazon may have a slowdown.
Other companies such as video game retailers expect that sales will continue to grow, since video games and gaming have become overall more popular during the pandemic and people will still want to play even if things start to get more back to normal soon.
Zoom expects big money to continue flowing this year as people have become accustomed to using it for their meetings. Whether or not folks return to the office, Zoom will remain a household name and be a favorite for video conferencing at many offices and for many businesses.
At the end of the day, it’s clear that large companies are always planning ahead and projecting how to adapt and thrive in this volatile economy. American citizens need to do the same, making sure to prepare as best we can for the economic changes ahead and taking advantage of the opportunities that will be coming up as the economy reopens.