I wanted to put together some fascinating stats, datapoints, and predictions resulting from this pandemic that I have seen over the last week. Check these out:
- Hotel downsizing: As many as 25,000 rooms, or 20% of New York’s total hotel room capacity, might not reopen, analysts and hotel owners say. That is equivalent to the entire size of hotel markets in Louisville, Ky., or Jacksonville, Fla.
- In Beantown, it’ll be harder to get some chowdah: The coronavirus pandemic could wipe out roughly one quarter of Massachusetts’ restaurants, according to the Massachusetts Restaurant Association. The group predicts that about 3,600 of the state’s 16,000 restaurants will not survive the pandemic, based on reports from the state’s two major food suppliers. Bob Luz, the president and chief executive of the restaurant group, has said this number could climb higher as the pandemic continues to take a toll on the food industry.
- Consumers may not be staying in hotels or dining out, but they are still spending: The Sherwin-Williams Company (NYSE: SHW) today increased its net sales guidance for the second quarter of 2020. Net sales in the Consumer Brands Group are expected to be significantly above the high end of the previous guidance.
- Another beneficiary of the pandemic: Once limited to workouts and errands, athleisure becomes a workwear staple. Athleisure — clothes that are fit for workouts but are way nicer than your ratty old gym shorts — has been on the rise for years now. The market is projected to leap by $80.7B between 2020 and 2024. The pandemic has been a boon to many athleisure companies.
- Mortgage rates are at all-time lows while houses for sale are as well. This is not normal but is nice for borrowers:
- This was certainly not unexpected:
- Finally, if you read about this product pre-covid, you would have laughed, shook your head, and forgot about it. Now, you might give it a second look:
This portable urinal company is flush with demand. If you’ve ever peed in a water jug in the back seat of a car and thought, “I’m OK with this, but I would love something a little more bourgeois,” boy do we have the product for you.
The Travel John is your perfect on-the-go bladder. For $17, you get a six-pack of bags, stuffed with crystals that absorb your urine and its smells. If you want one, you might have to hurry: The company behind the Travel John says it’s seeing a “drastic increase” in demand right now. It brings the lavatory right to your door. Listen: We get it. In loo of flying, Americans are taking tons of road trips this summer. And road trips are long, and maybe you’re nervous about using rest stops, and… suddenly, that portable urinal sounds pretty damn convenient. More good news: The ladies won’t be left in the cold. The Travel John’s feminine compatriot is the pink Travel Jane.
Joe Baker, CFP®
Baker Asset Management, LLC
joebaker@bakerassetmanagement.com
