Last March the U.S. economy stopped, literally within two weeks, as the first wave of the coronavirus epidemic hit. But we all anticipated no more than a 2-3 month hiatus. After that, we expected to be on top of the situation and opening back up for business.
That didn’t happen, and during the extended shutdown people stopped spending. At first. Then unexpected bursts of activity flared up. Spending exploded online as people redirected their discretionary spending to home-based projects. Outdoor businesses like construction and roofing went back to work, as did AC repair services. Housing came back as rock-bottom interest rates proved too enticing for refinancers and home buyers. Take-out orders for simpler fare like pizza and BBQ, or budget gourmet home delivery offered by caterers, kept a number of our restaurants going (though hospitality is one industry that is truly struggling.)
How do you join them?
How do you reorganize your business to survive and thrive in a pandemic economy that may linger for another year?
What can you do NOW to make the most of pandemic spending patterns over the rest of 2020 and into 2021? Continue reading