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economy because of coronavirus

Source: miodrag ignjatovic / Getty

“I don’t do anything these days” is something you likely hear a lot of people say during this pandemic. And many parts of the economy have taken a hit because of it. Restaurants have suffered tremendously, with even some of the mega-chains failing to make it through this crisis. About 20% of all TGI Friday’s locations have permanently closed. Every single Souplantation is gone. Even some of the chains that seem to dot every corner of our country like Starbucks and Denny’s are losing locations because of this virus. Movie theater chain AMC fears it won’t make it through this pandemic. The cruise ship industry has been hit hard, with the CDC giving its second No Sail Order of this pandemic on July 16, making it nearly impossible for cruise ships subject to US jurisdiction to make money.

The carnage is obvious. You see the “Closed” signs everywhere. But, Americans aren’t not spending at all. They’re just spending differently. The world has changed, for now, and, so too have the needs and wants of consumers. While some industries are flailing, some are seeing the most business they ever have. Here are industries that are booming during the COVID-19 pandemic.

 

economy because of coronavirus

Source: picture alliance / Getty

Industrial real estate

It’s no surprise that the e-commerce world is booming, with shoppers less and less comfortable going to brick-and-mortar locations to pick out anything from accent pillows to purses to kitchenware. But what may be surprising is that, as a result of that, the industrial real estate industry is growing as there is a higher demand for warehouses for all the online shopping goods. Experts say things were already headed in that direction, but the pandemic accelerated the trend.

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