4 Companies That are Making MORE Money Due to Covid
The current Covid-19 pandemic is certainly stress-inducing for most people and also for big companies who have large overheads, thousands of employees and an ethical issue of looking after them during these unforeseen circumstances.
We have already chronicled 4 heavy-hitting, well-known companies who are struggling due to the current lockdown, however some companies absolutely nail it durning a crisis while others just luck out.
Regardless of the why, here are 4 well-known companies who are thriving during the coronavirus pandemic.
In the 3 months of lockdown, Amazon actually made more money in those months than it did during Christmas, which is usually the most successful time of year for the online retail giant.
Amazon is the most trusted of its kind and many resellers sell products at a wholesale price that are more expensive elsewhere, such as supplements which in turn hurts companies like GNC who are stubborn on their higher prices.
An unheard of 40% increase in sales at this time of year means Amazon are growing from strength to strength. But it’s not all rosy at Amazon headquarters; bloggers and influencers have publicly poured scorn on the multibillion dollar company for suddenly announcing a drop in percentage to its loyal affiliates during its jump in even further success.
When the pandemic hit the US news blew up about people “panic buying” in a doomsday fashion, stocking up on bare essentials in a ‘first come, first serve’ manner sparking public outrage on the selfishness of their actions and who could possibly forget #toiletpapergate?
While there were many losers in this wild game, the clear winners are the cheap and cheerful franchise of stores in the USE Costco, who announced a 13.8% increase in net sales.
It’s not all sunshines and rainbows though over at Costco land; as some stores are closed depending on state rules unemployment could be on the rise within this firm.
However government furlough schemes are keeping the brand’s above water and they remain positive that when they are given the green light to open back up all will be well and it’ll be (a lot of) business as usual.
This one is an interesting addition as it’s more like a Phoenix from the flames. The well-known takeaway/delivery service has been surviving on shaky grounds over the years, but thanks to coronavirus the company recently announced the biggest jump in sales in the last 8 years.
The hunger for cheap and quickly delivered pizzas may not last, but we are sure Pizza Hut will just be happy to live in the now and ride out this wave for as long as it lasts before thinking about their next long-term move.
Closely related to the above motto of relaxing at home is the company who even have their name shoe-horned into popular dating memes (Netflix and chill) comes as no surprise that they are making an absolute killing during the pandemic lockdown.
A whopping 16 Million sign-ups must have gotten them excited, but the online streaming company will have to get creative as filming for new movies and TV shows has been halted since the start of all of this dystopian madness.
Sometimes luck just falls on your feet, like you can with online blackjack, and admittedly these above may fall in to that category. However if you are looking to diversify or add value during coronavirus there are plenty of opportunities to do so.
Gareth Willmot is a serial weird festival collector, coffee snob and a neurotic last-minute traveller who is passionate about marketing, ultramarathons and yoga.