Siddharth Taparia

Early in 2023, it’s clear that the COVID-19 pandemic continues to change the way we live, work and has driven fundamental change across the real estate industry. As a marketer in the industry, I’ve seen these changes firsthand across my organization. Some members of my team have relocated and are hybrid employees whereas others are going into the office more than ever.

When it comes to building a consumer goods product, conventional wisdom (especially in Silicon Valley) is to go all in on one marketing channel. For example: if you have a hot commodity online, why bother going to retail at all? But the events that have transpired over the past few months have been a wake-up call to entrepreneurs and investors alike. If you were all-in on retail, with minimal emphasis on ecommerce, then your business was heavily impacted by COVID-19.

In 2018, consumers in the United States spent $128.5 billion on sustainable consumer goods. According to Nielsen, sales in the sustainable goods sector have risen 3.5% per year since 2014, with projections of the market size reaching $150 billion by 2021—at least, until the coronavirus pandemic began. Right now, what we’re seeing is a reversing of this trend. Starbucks is temporarily banning reusable cups and mugs. Grocery stores are banning reusable bags.