Businesses that rely on relationships are booming amid pandemic
Companies serving niches in the love business have managed to thrive during the pandemic.
While the COVID-19 pandemic has dealt a blow to the wedding business, those in the “relationship-support niche” have managed to flourish as demand for their services grew.
Since launching in October, online florist company Floracracy has seen its company explode. Its CEO Sarah-Eva Marchese told the New York Post that it was supposed to formally launch last April, but had to shut down its warehouse for a few months.
People isolated during the pandemic have altered their spending habits. (newschoolarch.edu)
“We had to shut down our warehouse for a few months. We ran ‘pay what you can’ campaigns, where people literally could send flowers for zero dollars,” she said. “We had people gift teachers… We had people give to families who had lost someone from COVID-19.”
But since October, the team has grown 60% with a 25% repeat purchase rate – a phenomenon they attribute to the “intense isolation” people experience during the pandemic.
Apeksha Kothari, COO of engagement ring marketplace RareCarat.com, said the company went through a rocky period at the beginning of the pandemic, but as time went on, it experienced a major growth spurt.
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The business increased five times over and more than doubled their team, leading to more than $100 million in diamond sales annually.
Annbeth Eschbach, president of Kindbody, which offers fertility services at affordable pricing, also experienced substantial growth, having quadrupled revenues.
“We’ve seen many re-evaluate what matters most, whether that’s building a family, keeping options open or taking the time to learn more and fight for your health and well-being,” Eschbach told The Post.
Select Date Society, a matchmaking service, likewise, saw a giant uptick in clients during the pandemic.
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The Company’s CEO Amber Artis told The Post that the company logged their best year on record.
“If you are in the love industry and good at what you do, your services will always be needed,” she said. “When life is challenging, people look for love and connection.”