The Zoom Boom

By Peter Hebert

The Covid pandemic that shut down the economy produced the Zoom Boom. In the early days of the panic magnified by fear of the unknown and round the clock media coverage, households sheltered in place and shifted their purchasing patterns. Many of us moved from shopping at the traditional brick and mortar shops to having everything delivered. Pizza. Cava. Lettuce, milk, and eggs. You name it.
Amazon Prime not only delivered a book or needed household gadget, but also groceries from Whole Foods. We adapted. We stayed safe. We either stopped or significantly cut back from commuting to and from work. And, we learned to work from home with video conferencing like Zoom or other technologies that have been with us for many years.
Day in, and day out, as predictable as the sun rise and the sunset, the heroes of the economy are those truckers carrying goods from off loaded container ships and drivers for USPS, UPS, FedEx, and Amazon Prime with items placed in our mailboxes or hand carried to our front steps. That’s right. You’ve got mail!
Many more people are working from home. They recognize they want or need a nicer work space. If they ditched an unneeded car, it means much more purchasing and borrowing power. No more car payments, no more insurance premiums, and no more service bills. They can Uber those few times per month when needed. And, what may have once been beyond their budget, is now possible.
While factories in China shut down, or significantly slowed down production, American consumers stepped up demand. Working from home produced a widespread desire for nicer working environments tailored to specific needs. Then the orders piled up for air fryers, laptops, kitchen appliances, home furnishings, and imported lumber for home additions.
Many looked on as their neighbors sold their homes for 30 percent more than everyone thought the home was worth. As a result, some realized that it was time to invest in their homes with a new kitchen, new bathroom, and a fully equipped his and her home offices. As one neighbor put it when asked how he was doing, “Living the dream!” All of the while with an ear to ear grin on his face.
Others watched in disbelief as a home down the street was sold, and then re listed at a much, much higher price with a coming soon sign boasting an upcoming new kitchen and bathroom. Any ugly Betty with lip stick and a silk dress will make you turn your head. Flip this house is entrepreneurial capitalism in its most primal form. See the opportunity. Bring in the talent. Take action. Turn a profit by meeting marketplace expectations. Then take it to the bank. Kah ching. Kah ching.

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