Startups

5 Industries on the Rise Amid the Coronavirus Emergency

  • 4 min Read
  • March 23, 2020

Author

Neha De
Neha De

Neha De is a writer and editor with more than 13 years of experience. She has worked on a variety of genres and platforms, including books, magazine articles, blog posts and website copy. She is passionate about producing clear and concise content that is engaging and informative. In her spare time, Neha enjoys dancing, running and spending time with her family.

Table of Contents

Many entrepreneurs have reported lagging sales and frustrations as the coronavirus has halted the economies of countries all over the world. But not all businesses are seeing sales fall. In fact, some businesses have said they’ve seen interest rise as the emergency has spread. Check out the following five businesses that are in this category.

Pediatric Teletherapy

Everyone is stressed during these times, but it’s difficult to get the mental health resources necessary when social distancing is a top priority. New York’s Enable My Child has seen “massive demand” for its technology during the past two weeks, founder Syed Mohammed told Crunchbase . The firm’s technology uses artificial intelligence to offer pediatric mental health, speech and occupational/physical therapy for early intervention programs.

The company is working with states, schools and counties to provide its services, and has also been contacted by private clinicians to help provide remote therapy options. The company brought in over $1 million in venture funding last August, and logged a year-over-year revenue growth of 300 percent in 2019, Crunchbase reports .

Mobile Order/Delivery Firms

Seattle is the epicenter of the US’ coffee industry and home to category stalwart Starbucks, but it’s also where tech business Joe Coffee is based. The company makes a mobile ordering/rewards app that local coffee shops can utilize so they can be more competitive against chain coffee firms. The startup has been “absolutely swamped” recently, CEO Nick Martin told GeekWire. The reason? Local shops are trying to find ways to provide social distancing options while still staying in business, and the company’s technology allows them to do so.

The same is true of businesses like Domino’s, DoorDash, Amazon and Instacart, which deliver foods, groceries and other items that people need but can’t get due to social distancing. These are among the brands that are working to bring on more employees during the crisis, according to The Hill .

Medical Marijuana

Medical marijuana sales rose by over 20 percent during the week of March 16, hitting a record high, according to analysts. Dispensaries in certain states are considered “essential businesses,” but customers who feared they may not have access to cannabis made their way to dispensaries to stock up in case closures might be looming, the Philadelphia Inquirer reports.

Not only are more customers visiting these venues, but they are buying more at a time, according to one dispensary owner in Washington, D.C. Such stores are ensuring that customers take social distancing measures, limiting the number of people allowed in a dispensary at any given time, Washingtonian reports.

Grocery Products Like Fresh Meat, Sanitizer

As consumers flocked to grocery stores, meat department sales rose by nearly 77 percent during the week ending March 15, data from IRI indicate. Sales for beef rose by $376 million and sales of chicken went up by $183 million, Agweb reports.

Sales of turkey logged the highest growth, up over 96 percent, while fresh pork sales were up over 89 percent, IRI noted. Much of that was attributed to Americans “panic buying,” or stocking up in anticipation of a lockdown. But those aren’t the only grocery items flying off shelves.

Nielsen data indicate that hand sanitizer sales rose 470 percent the week ending March 7, while aerosol disinfectant sales were up 385 percent and bath/shower wipes rose 180 percent, NPR reports. And that old standby toilet paper saw sales increase by 60 percent during that week, the report notes.

Self-Defense Materials

The coronavirus emergency has led many people to stock up on self-defense materials, such as ammunition for handguns. Revenue on Ammo.com rose 309 percent between February 23 and March 15, CNN reports. Some states are responsible for bigger shares of that business, such as Delaware, where sales rose 4,529 percent during the three-week period.

Sales of guns are also on the rise as people feel a stronger need to protect themselves. To put it into perspective, consider this: The US Department of Justice performed about 380 background checks daily in 2019. On March 17 alone, that number hit 1,943,according to the Milwaukee Journal Sentinel.

Talk to our team today to learn how Escalon can help take your company to the next level.

  • Expertise you can trust

    Our team is made up of seasoned professionals who bring years of industry experience to the table. You gain a trusted advisor who understands your business inside out.

  • Quality and consistency

    Say goodbye to the hassles of hiring, training and managing in-house finance teams. You will never have to worry about unexpected leave of absence or retraining new employees.

  • Scalability and Flexibility

    Whether you’re a small business or a global powerhouse, our solutions scale with your needs. We eliminate inefficiencies, reduce costs and help you focus on growing your business.

Contact Us Today!

Tap into the latest insights from experts in your industry

Small Businesses

The ROI of Outsourcing Business Services: How to Measure Your Investment’s Impact 

The ROI of Outsourcing Business Services: How to Measure Your Investment’s Impact  In a world where every dollar must count,...

Read More
People Management & HR

2025 Employment Law Updates: What to Know

As we step into 2025, businesses across the country face several important updates in labor laws and employee benefits. Staying...

Read More
Startups

5 Signs Your Startup Needs an Outsourced CFO  

5 Signs Your Startup Needs an Outsourced CFO   Startups often operate with lean teams, but as they grow, financial complexity...

Read More
Leadership & Growth

CG Startups: How to Keep Costs Low While Scaling Operations 

Consumer Goods Startups: How to Keep Costs Low While Scaling Operations  Scaling a consumer goods startup requires a careful balancing...

Read More
Press Releases

Escalon Expands Its Reach: Full Stack Finance and Early Growth Join Forces with Industry Leader 

Escalon Expands Its Reach: Full Stack Finance and Early Growth Join Forces with Industry Leader  In a strategic move that...

Read More
Taxes

Delaware Annual Review: What Series A-C Startups Must Know to Stay Compliant 

Delaware Annual Review: What Series A-C Startups Must Know to Stay Compliant  For startups incorporated in Delaware, staying compliant is...

Read More
Taxes

Tax Planning for Startups: Preparing for Your First Tax Filing

Tax Planning for Startups: Preparing for Your First Tax Filing as a Growing Business  For many startups, the first major...

Read More
Taxes

Unlock Tax Savings with the R&D Tax Credit

As a startup, managing cash flow and minimizing expenses are critical to your business's survival and growth. One often-overlooked opportunity...

Read More
Accounting & Finance

1099 Compliance for Early Stage Startups

1099 Compliance for Early Stage Startups As your startup grows from seed funding to Series A, B, or C, you’ll...

Read More