I know I am stating the obvious here, but the COVID-19 crisis will forever change consumer behavior, shifting billions of dollars of spending to online purchasing. There are many internet services and apps younger people have become enamored with over the past few years, but were not being used by the general population. All of this is now changing. Some examples include:
- Food Delivery Services: Postmates, Grubhub, DoorDash, Uber Eats.
- Grocery Delivery Services: Whole Foods, InstaCart, Amazon Fresh, Walmart, Shipt.
- Video Conferencing: Zoom, Webex, Facetime.
- Distance Learning – Google Docs, Canvas, YouTube, Google Classroom.
- Telehealth – CVS Video Visits, health insurance provider apps.
- Video on Demand (VOD) – Netflix, Amazon Prime Video, Disney+, Apple TV.
Social interaction is also changing. People are having virtual parties, online concerts, cyber weddings, digital birthdays, and web funerals. TV talk show hosts are broadcasting from home. Musicians are live streaming. Having a home office is the new norm. Yes, all of this is temporary, but you can’t unring the bell. Some of it will become socially acceptable even when society reopens.
And, at least for the next year or two, until a COVID-19 vaccine arrives, a lot of this behavior will stay the same. Nobody wants to get sick; nobody wants to die.
The business fallout from the coronavirus pandemic will lead us into a different economic future. This is an extinction-level event for many companies, both large and small. JCPenny is exploring bankruptcy options, and Neiman Marcus has already filed for Chapter 11. Macy’s furloughed over 100,000 workers. Cheesecake Factory stopped paying rent for its 200+ locations. Airlines are losing billions a month, and over 500,000 travel and tourism workers have been laid off or furloughed. AMC movie theaters may run out of cash by the end of the year, as might many local bowling alleys, hair salons, gyms, and restaurants.
So again, stating the obvious, all of this is a boon for the internet, making websites more profitable than ever. By association, this makes having a good domain name more valuable.
There have also been big changes in everyone’s personal lives. Months of quarantines, sickness, and isolation have increased the collective boredom level of society to the highest in recorded history. And, as luck would have it, after 4 years of screwing around trying to use AI to drive cars, play Atari games, and beat the stock market, what did I finally decide earlier this year to focus all my energy on? A site for bored people at BoredHumans.com.
While you may be picturing me lying on a bed of $100 bills sipping champagne in my mega-mansion, the grand total I have made so far from my site is…$0. But I am working like a maniac to add new content and promote it, to take advantage of the situation. I am in the right place at the right time and have faith it will work out.