When the pandemic hit the U.S. last year, millions of Americans suddenly went from commuting to the office every weekday to working from home on their laptops. While it was difficult for some people to adjust to this abrupt change, many others became accustomed to remote work quickly, and they would very much like to continue doing just that. As a result, a number of companies are experimenting with “hybrid offices” in which employees come in a couple days of Continue reading
Last year, companies across all industries scrambled to figure out how to continue doing business during the coronavirus pandemic. As time went on, subscription services proved to be dependable profit sources given that they required customers to provide regular payments every month. Subscriptions to streaming platforms like Netflix and Disney Plus skyrocketed in 2020 while many restaurants also found success with membership models.
For instance, in early 2021 six eateries in the Washington, D.C., area joined forces to create Continue reading
In 2017, the startup Moviepass offered film buffs a deal that seemed too good to be true. For $9.95 per month, subscribers could see up to one movie per day at all major theaters located throughout the country. Moviepass hoped to offset the costs of purchasing so many tickets by brokering bulk deals with theater chains and by monetizing users’ data. None of these plans ever came to fruition, however, which left the company with more than three million subscribers Continue reading
As warmer weather returns throughout the country, many Americans are stepping out of their heavily used kitchens and heading back to restaurants. According to data from the review site Yelp, restaurant reservations are up 46 percent compared to 2019 and a whopping 23,000 percent compared to last year near the start of the pandemic. The reservation site OpenTable reports similar surges in restaurant traffic as more people receive vaccinations and restrictions ease across the country.
“States that had restrictions Continue reading
Earlier this week, we looked at how pandemic lockdowns led to increased consumer demand as well as supply chain problems that are delaying deliveries around the world. Large-scale disruptions such as the Suez Canal blockage and the traffic jam at the Port of Los Angeles have resulted in wide-ranging financial damage to all sorts of small operators who cannot get their hands on vital merchandise. For instance, one restaurant in Oklahoma must pay $200 for a case of gloves that Continue reading
After experiencing the worst year for the hospitality industry in U.S. history, restaurants and bars are beginning to bounce back as vaccinated Americans reemerge into the world and Covid-19 restrictions ease. For instance, sales at the Miami coffee shop and eatery All Day spiked in January to their highest levels since the start of the pandemic. “It was like turning on a light switch,” said owner Camila Ramos. As customers continued to flood into All Day, she tried to hire Continue reading
As the pandemic forced Americans to stay at home a year ago, many people turned to indoor activities like baking, watching TV, and playing video games to pass the time. Sales of products like baking accessories and new televisions increased as a result, but video games skyrocketed in popularity to a degree never seen before. In 2020 Americans spent a record $56.9 billion on gaming, a 27 percent increase from the year before.
Sony reported a 62 percent jump Continue reading
A couple of weeks ago, Texas’ power grid failed after a historic snowstorm and cold snap overwhelmed the state. As millions struggled without electricity or heat, those who had power potentially faced exorbitant electric bills because of changes Texas made to its utility system more than 20 years ago. Back then, much of the state switched from using regulated utilities to a deregulated market where customers could choose from a variety of power providers. As a result, nearly 60 percent Continue reading