Balancing spending during the pandemic

By: Cesilia Faustina

Since the start of the COVID-19 pandemic, the economy has been on thin ice all over the world. While some are adapting to online workspaces, some are greatly struggling with unemployment and the need to continue working despite the risks. It is clear that COVID-19 is showcasing some clear winners and losers in the industry spectrum.

Companies that focused on marketing products online are soaring compared to those who don’t. Other than that, digital communication tools like Zoom and online food delivery services are also increasing. According to data from Avalara, since the start of the pandemic there has been a decrease for items unnecessary to everyday life and there was a huge increase in survival, hobbies and home entertainment supplies.