skip to main content
Find Insight DIY on
* * *


The COVID-19 Pandemic Is Fuelling The Growth Of The Stay-At-Home Economy

Globe coronavirus covid19.jpg

The COVID-19 pandemic is fuelling the growth of the stay-at-home economy.

Zara Ingilizian, Head of Shaping the Future of Consumption at the World Economic Forum, has given her comments on how this is shaping the new consumption industry as consumers discover new ways of accessing goods and services, receiving an education and doing their jobs.

Consumer preferences have been shifting toward e-commerce and online entertainment and education for over a decade. The COVID-19 pandemic, however, has been an accelerator for companies that serve the stay-at-home economy, which are displaying agility by experimenting with new ideas to build brand affinity. 

For example, Instacart, an American technology company that provides same-day grocery delivery and pick-up service in the U.S. and Canada, stated that their weekly sales jumped 10-fold. It was 20 times higher in California and Washington State, where the virus was widespread early in the pandemic 

Video streaming has been on the rise for over a decade. According to the Motion Picture Association of America, last year, the number of streaming subscribers around the world (613 million) surpassed the number of cable subscribers (556 million). With city governments asking citizens to shelter in place, new streaming subscription services are seeing growth. In particular, since early February, Disney+ has had a 75% rise in subscribers and passed 50 million paying subscribers in its first five months. 

While there is uncertainty regarding the long-term impact the coronavirus pandemic, we do know with a high degree of certainty that consumer preferences will continue to evolve as they discover new ways of accessing goods and services, receiving an education and doing their jobs.

/live/news/wysiwyg/A WEF.JPG

Source : World Economic Forum

For all the very latest news and intelligence on the largest UK home improvement and garden retailers, sign up for the Insight DIY newsletter.  

15 May 2020

Related News

view more UK DIY News

I find the news and articles they publish really useful and enjoy reading their views and commentary on the industry. It's the only source of quality, reliable information on our major customers and it's used regularly by myself and my team.

Simon Fleet - Sales & Marketing Director, Thomas Dudley Ltd

Don't miss out on all the latest, breaking news from the DIY industry