Anyone who has gone to a supermarket recently knows that several products have been sold out while people panic-buy because of coronavirus fears. This has caused some companies stocks to rise, sparking a need for increases in production and distribution. Just which companies have made millions of dollars during this worldwide pandemic? Keep reading to find out.
Cleaning Product Sales Soar During The Coronavirus Pandemic
Earlier this month, The Environmental Protection Agency released a list of antimicrobial products that are effective against coronavirus. The list included Lysol, Clorox and Purell. Fittingly enough, these products are now all extremely hard to find at supermarkets and retail chains. Clorox’s stock shot up more than 20% over the past few weeks.
These companies that produce cleaning products are hoping that public behaviors will forever be changed after this pandemic and that people will continue to stock up on these products. In times of crisis like these people seem to be more concerned about keeping clean and do not mind spending anywhere from $5-$15 on a pack of Clorox or Lysol Wipes.
Purell Hand Sanitizer Is Flying Off The Shelves
You may have noticed that finding a bottle of Purell Hand Sanitizer in stores is a lot more difficult than it used to be. It advertises that it kills 99.99% of germs so naturally, people have bought it by the gallon during this time.
The Sales of Purell Hand Sanitizer increased by 313.4% between February 22 and February 29 in the United States. This is around the same time that the news broke about the first death in the United States due to the virus. And although the sales are doing extremely well, the makers of Purell were just hit with a lawsuit claiming that the products were “false and misleading.” Even with this ongoing lawsuit, we doubt people will stop buying this product during a time when they need it most. It is also used in medical offices and more dispensers of it have been put in public places since the outbreak started. This product has been so hard to find that people started to make their own.
Non-Perishable Items And Canned Goods Have Been In High Demand
People have been posting a ton of videos on TikTok lately showing off their pantries amid the coronavirus outbreak. One common factor in almost all of them is that they have a ton of canned items. Campbell’s Soup CEO Mark Clouse said that the production of Campbell’s products will be increased due to people panic-buying and stocking up on it.
Campbell’s stock has continued to climb each week since coronavirus began to spread across the United States. One extremely profitable factor for this company is that they do not only just produce soup. They also make pasta sauces, crackers, and broths which are all things people seem to be grabbing off the shelves at record speed. One country that has been hit extremely hard by the coronavirus is Italy with over 5,000 deaths. They were already experiencing panic-buying and food shortages of some staples like pasta back in February.
Pasta sales and consumption have certainly been on the rise since the outbreak started due to its long shelf life and affordability. We expect to see pasta companies to have increased sales over the next few weeks. Twitter users even documented how pasta is hard to find on the shelves at their grocery stores.
This Twitter user found only one box of pasta at the store. There’s no doubt that it is a hot commodity during this time.
Business For Netflix Is Also Booming
With everyone advised to stay home and practice social distancing, it is no surprise that Netflix has been streaming at an astronomical rate lately. Users have been watching it non-stop and are loving the new Netflix Party feature where you can stream movies with friends.
The Netflix stock has jumped tremendously this past week as more quarantines and lockdowns were put into place all over the world forcing even more people to stay home. They are no doubt ready to binge-watch shows while they wait for the spread of the virus to slow down.