Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Denver news in your inbox

Catch up on the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Des Moines news in your inbox

Catch up on the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Minneapolis-St. Paul news in your inbox

Catch up on the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tampa Bay news in your inbox

Catch up on the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Charlotte news in your inbox

Catch up on the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Illustration: Sarah Grillo/Axios

The pandemic has upended Thanksgiving and the shopping season that the holiday kicks off, creating a new crop of economic winners and losers.

The big picture: Just as it has exacerbated inequality in every other facet of American life, the coronavirus pandemic is deepening inequities in the business world, with the biggest and most powerful companies rapidly outpacing the smaller players.

The winners ...

  • Online grocery: Orders are up 560% in the last week (compared with October) as most people do their Thanksgiving dinner shopping online, according to Adobe Analytics.
  • Small turkeys: There's a shortage of 8 to 16-pound birds in America as people prepare to celebrate the holiday with just their immediate families this year.
  • E-commerce: Black Friday has moved online this year, and Amazon, along with all the other big retailers that are offering delivery, are seeing unprecedented sales surges. Holiday shoppers are 32% more likely to buy from an e-commerce-capable retailer than not, Adobe Analytics reports.
  • Thai restaurants: Thai food seems to be Americans' top pandemic-era takeout choice, says marketing analytics company Zenreach. Thai restaurants are operating at 45% of their normal capacity, compared with the industry average of 35%.

... and the losers:

  • Small businesses: Hundreds of thousands of small, independent businesses remain closed around the country, and close to 60% of them have now shuttered for good, according to Yelp data.
  • The leisure and hospitality sector: Hotels, restaurants, theme parks and other businesses that typically thrive during the holidays have been hardest hit. 65% of small businesses in this sector have closed in San Francisco, 72% in New Orleans, 55% in D.C., and 60% in San Antonio, according to the World Economic Forum.
  • Malls: With cases spiking, long Black Friday lines will be a thing of the past. 74% of people plan to shop online this weekend to avoid crowds, per a Deloitte survey.
  • Travel: Even though millions traveled to a Thanksgiving celebration this year, far fewer did so than in years past. Air travel saw a 48% drop.
  • "Turkey first-timers": As people decide against traveling for Thanksgiving this year, those who are typically dinner guests and are tasked with just showing up with a bottle of wine will have to attempt to cook the feast themselves, reports the Wall Street Journal.

The bottom line: This pandemic holiday season will be especially painful for the millions of disproportionately lower-income Americans who are still out of work, says Beth Akers, a senior fellow at the Manhattan Institute.

  • "The norm for most Americans is to have a little bit extra this season, whether that's to give gifts or host a celebration," she says. "The inability to do that because of finances is surely wreaking emotional havoc on families."

Go deeper

Mike Allen, author of AM
Jan 5, 2021 - Economy & Business

Goldman Sachs CEO forecasts small business survival in the storm

David Solomon outside the Capitol today. Photo: Goldman Sachs

In Washington on Tuesday to meet with small businesses, Goldman Sachs CEO David Solomon told Axios that some of the survival pivots entrepreneurs have made in the past year will last past the pandemic.

What he's saying: "A lot of small businesses have had to make some investment in digitization and technology to connect to their customers more digitally than directly," Solomon said. "Some of that will last and will help their businesses."

Updated 6 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Eniola Odetunde/Axios

  1. Health: Most vulnerable Americans aren't getting enough vaccine information — Fauci says Trump administration's lack of facts on COVID "very likely" cost lives.
  2. Politics: Biden unveils "wartime" COVID strategyBiden's COVID-19 bubble.
  3. Vaccine: Florida requiring proof of residency to get vaccine — CDC extends interval between vaccine doses for exceptional cases.
  4. World: Hong Kong to put tens of thousands on lockdown as cases surge.
  5. Sports: 2021 Tokyo Olympics hang in the balance.
  6. 🎧 Podcast: Carbon Health's CEO on unsticking the vaccine bottleneck.

Trump impeachment trial to start week of Feb. 8, Schumer says

Senate Majority Leader Chuck Schumer. Photo: The Washington Post via Getty

The Senate will begin former President Trump's impeachment trial the week of Feb. 8, Majority Leader Chuck Schumer announced Friday on the Senate floor.

The state of play: Schumer announced the schedule after reaching an agreement with Republicans. The House will transmit the article of impeachment against the former president late Monday.