What is it and why you should avoid it
The exercise bike Peloton is an example, having seen its stock price rising in the market. Peloton offers membership-based workout programs, and prices start at US$2,245 for their "basics package."
According to the Telegraph, luggage shipping company Send My Bag has seen a spike in business.
Some gyms are closed, others are open with restrictions and many people still feel insecure to visit them. So, for many, the option is to work out at home. As a result, some businesses have seen a spike in profit.
With flights being canceled all over the world, people are shipping their luggage by other means.
Julia Buckley, a personal trainer who provides home work outs, saw an increase of 20% in registrations in her paid-subscription website.
With more and more people staying indoors, it’s natural that demand for these services will grow.
They reported a 800% increase in requests for luggage to be sent from Spain to the US, and 3,000% from Italy to the US, since the beginning of March.
Stock prices for Netflix have gone up, said BMO Capital Market analyst Dan Salmon. He added that Netflix "is an obvious beneficiary if consumers stay home due to coronavirus concerns, and this has been reflected in considerable stock price outperformance."
In many countries it is very difficult to find hand sanitizer for sale. The demand went up so much that companies are struggling to meet it.
A manufacturer in the UK reported a huge spike in demand, with over two million hand sanitizer units on order in just 10 days. By comparison, the company usually produces an average of five to six million bottles a year.
Demand for masks also increased substantially, particularly N95 masks. Companies like 3M are working hard to meet market demand.
UK business Cambridge Mask Company reported that demand for their masks increased 20 to 30 times.
For instance, the CEO of toilet paper company Peach reported that sales had gone up about 267% in just two weeks.
In March 2020, toilet paper sales skyrocketed all over the world, leading to shortages in various countries.
And, as of March 12, toilet paper company No. 2 reported that their Amazon sales had increased 1,643%.
Sales of canned foods, pasta, and rice also have gone up.
People are also stockpiling frozen foods. This way, they can leave the house less times a week in order to buy food. A spokesperson for the UK supermarket Iceland said: "Sales of frozen food have seen notable increases and we have noticed a trend towards customers selecting multibuy deals and larger packs."
Freezer sales have also gone up in numerous countries. For instance, in the UK, sales increased by 200%. Australia, the Czech Republic, and Ireland have also seen a boost in sales.
With toilet paper disappearing from the selves, bidet sales went up. These are more commonly found in European homes, but sales across the pond skyrocketed.
For instance, Zoom, which offers video conferencing services, has seen a boost in stock prices.
But while demand is increasing, companies are also taking into account the circumstances. Uber Eats, for instance, is waiving delivery fees for independent restaurants.
MKM Partners analyst JC O’Hara identified a number of companies that could rise in the market. These included Netflix, Facebook, and Amazon.
Delivering goods to homes has never been so important. For instance, in the US, Amazon is planning to open and run courier businesses.
As people stay home and restaurants close their doors due to the pandemic, businesses are focusing on food deliveries as a way to keep things going.
Another example includes a shipping container listed on Craiglist in the US, where the description suggests it could work for a "coronavirus quarantine."
See also: The biggest missed business opportunities in history.
The founder of air purifier manufacturer Molekule said they're "very confident that this technology will destroy coronavirus." But Wirecutter called it "the worst air purifier [it's] ever tested."
A number of hats with screens and visors claiming to protect against the new coronavirus have also been removed from Amazon.
Products such as jewelry and mugs with messages such as “I Survived Coronavirus” and “Don’t Cough on Me” were also found online, according to Vox.
Price gouging is also a concern. For instance, a 10-pack of N95 masks could be found on sale for US$128, having previously retailed for an average price of US$41.24.
Amazon had to block a number of products on their marketplace that falsely claimed to cure or defend against the coronavirus.
The world's economy is taking a hit, but it's not all bad news for every sector. Like with many other crises, businesses will sink, but plenty of others will thrive. The coronavirus outbreak has indeed changed the spending habits of millions of people across the world and some companies are capitalizing on this.
Browse through the following gallery and discover which companies are making big bucks with COVID-19.
Air purifier manufacturer Airpura, for instance, claims that one of their products is effective against COVID-19. It says "the UV600 also can remove the coronavirus from your airstream."
The businesses profiting from the coronavirus pandemic
Who's making big bucks with COVID-19?
LIFESTYLE Money
The world's economy is taking a hit, but it's not all bad news for every sector. Like with many other crises, businesses will sink, but plenty of others will thrive. The coronavirus outbreak has indeed changed the spending habits of millions of people across the world and some companies are capitalizing on this.
Browse through the following gallery and discover which companies are making big bucks with COVID-19.