A lot has been written about the impact the coronavirus pandemic has had on the U.S. meat industry and sitdown restaurants, but what about the other sectors of the food and beverage industry?
Wan Kim, CEO of Smoothie King, told Cheddar Tuesday that the pandemic pushed him and his team to build a bigger digital presence for its customers.
"When this kind of big disruption happens I think it was kind of a big wake up call," Kim said. "We really started to think of what else we could do, and there's a lot of things we could focus on like our digital stage."
The CEO is so committed to growing the company's digital presence that he announced on Cheddar that Smoothie King is planning to launch a subscription service this summer.
"We are also doing some research about whether we can actually roll out any subscription model and we are looking into it because, once again, changes are hard but actually this is the perfect time for us to do it," he said.
The fitness industry has also been rattled by the coronavirus pandemic. Gyms have been closed to reduce the spread of the virus and more people are taking advantage of at-home workouts, which is why Kim said it was important for Smoothie King to make deliveries.
"I see a lot of people actually getting the virtual workout as we speak and if that's what going to happen in the future, then we need to make sure our products actually get delivered to homes," he said.
The smoothie chain has ramped up its digital presence amid the pandemic by increasing its deliveries and teaming up with DoorDash to get smoothies to more customers. The company is also offering curbside pickup as well.
About nine million people with student loans missed their first payment after the recent pandemic pause, according to data.
Spending this holiday season is set to significantly rise, according to an economic survey from CNBC.
Google settled an antitrust lawsuit, Tesla is reportedly raising pay, a group is suing Utah over its social media policies for kids and the founder of Nikola was sentenced to prison.
The White House is lending its support to an auto industry effort to standardize Tesla’s electric vehicle charging plugs for all EVs in the United States.
Some of America’s biggest retailers are working to increase their shipping speeds to please shoppers expecting faster and faster deliveries.
A group representing several big tech companies is suing Utah over state laws about children's social media use.
Google has agreed to pay $700 million to settle an anti-trust settlement.
Stocks were up after the closing bell as Wall Street continued to pin their hopes on rate cuts after last week's comments from the Fed.
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Google has agreed to pay $700 million and make several other concessions to settle allegations that it had been stifling competition against its Android app store — the same issue that went to trial in another case that could result in even bigger changes.
