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3 Industries That May Not Rebound After Coronavirus
The coronavirus may change human behavior permanently before some industries have time to rebound.
This article is property of The Motley Fool and was originally published on May 7.
Berkshire Hathaway CEO Warren Buffett recently shocked most of the investing world by selling the company’s entire stake in four major airline stocks — and at a big loss. “I don’t know whether two or three years from now that as many people will fly as many passenger miles as they did last year,” Buffett said.
That struck me as a very interesting comment because it shows that despite the necessity of air travel in the global economy, Buffett believes the coronavirus pandemic has real potential to change human behavior. Humans are people of habit and routine, and if social distancing lasts into next year, some industries may struggle to rebound before consumer habits change entirely. Here are three industries that could be in trouble:
1. Gymnasiums
Since social distancing began, I have significantly built out my home workout space. I have a rowing machine, exercise bands, and now frequently use the home workout app I never touched when I was going to Planet Fitness. While I can’t wait to go to the gym…
