2020 has been a whirlwind year. With the pandemic coming into play and demolishing the economy, many businesses faced brutal hardships or were forced to close their doors for good. However, certain businesses rose to success.
This is represented by an increase in sales and customers, high levels of stock growth, and ongoing success. Some businesses achieved this by taking advantage of everyone being at home. Services that benefited people in the home were always welcomed so companies marketed with this in mind.
Many of the companies that saw success in 2020 will continue to grow in 2021. Let’s take a look at look at some of them!
The online grocery market has been a hit for obvious reasons. When the coronavirus pandemic was at its peak, and even still, people are worried to go out in public. From big-name grocers like Stop & Shop, Walmart, and Hannaford offering delivery, to third party delivery services like Instacart, there are so many options that people have utilized to avoid risking their health.
These businesses also had to employ more staff to meet the high demand, with Instacart hiring 100,000 new shoppers in April and May. Companies like Hello Fresh and Schwan’s who deliver fresh ingredients and recipes have succeeded and increased sales in this market as well. The industry’s revenue is expected to grow at an annualized rate of nearly 25% after this year’s success.
Next up we have home improvement and home retailers. These types of businesses saw an unexpected uptick as people were stuck in their homes staring at the same sight every day.
Homeowners always have ideas and improvements in mind that take ages to happen.
With so much time being spent at home, people took advantage of and updated their homes.
Stores such as home goods and the online retailer Wayfair both reported significant increases in sales over the past year.
For a good part of 2020, dining at a restaurant was against the rules. With takeout as the only option and slim pickings for that, food delivery apps made big profits in 2020. Uber Eats, Grub Hub, Postmates, and others were so popular that employees were making more than they did pre-pandemic and in less time too! Tips were also higher, probably since people weren’t spending money dining in.
The next one is no surprise, as everyone probably made at least one purchase from there this year. Amazon was the one-stop shop before the pandemic hit so once people couldn’t even go out to stores, it was even more of a hit. People still needed things that weren’t sold at essential businesses and Amazon fulfilled the need.
The company was so busy that Prime, its one-day delivery service, could not function for months. While packages were still being delivered promptly, they were getting so many orders that it was impossible to ensure each package arrived in one day.
There were a few things that people could still do from home during the pandemic. Working out was one of them. The health and fitness industry saw huge success in many different aspects.
From home workout equipment to personal trainers and online fitness programs, consumers loved it all. With gyms closed, people still needed to find a way to get motivated and get their workout in. Peloton saw a huge increase in sales as people not only invested in their equipment but also virtual workout programs. Some people have even gotten so used to working out at home that these trends may stick past the pandemic.
While there are even more industries that saw success during the darkness of 2020, these are just a few of the most remarkable. Stay tuned to see how these companies progress in the new year and what other industries rise to the top!
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