As more consumers choose to stay at home to avoid the coronavirus, services that deliver home entertainment and food could see a financial boost, experts say.
, large tech companies canceled conferences and movie theaters have suffered in South Korea and China. But there are a handful of businesses, including ones in home entertainment or food delivery, that may even be helped by the health scare.JC O’Hara, chief market technician for equity research and trading firm MKM Partners, compiled what he called a “Stay at Home” portfolio of stocks.
“Over the last few days we’ve seen a surge in customer demand for pantry items such as powdered milk and canned goods, as well as personal-care products like hand sanitizer and vitamins,” the company said. “Maybe if a few more people are going to be staying home, they might find more utility in watching TV for a period of time here that might help us in the short term,” Stankey said. AT&T is launching its HBOMax streaming service in May.
Already, some Californians like Rohit Kulkarni are changing their routine. Recently the equity analyst decided to play video games with his kids indoors instead of outdoor sports like soccer. If the coronavirus continues to spread, he will probably skip going to the movie theater with the kids and watch a documentary on Netflix instead, said Kulkarni, who lives in San Mateo.
There’s little indication yet that U.S. consumers are staying home from theaters. However, studios have canceled film premieres, delayed productions and pushed back release dates to respond to the global situation. The newest James Bond movie, “No Time To Die,”Businesses including WarnerMedia, Sony Pictures and Creative Artists Agency have also restricted travel for employees.
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