The coronavirus pandemic has had a significant impact on many industries. However, times like these call for creativity and forward thinking in order to make the most of a difficult situation.
With masks becoming a necessity for everyone, many parties have flooded the market in hopes of capitalizing on this novel opportunity. Business reporters can help their readers begin to understand the new industry by taking a look at the different types of mask producers and sellers.
Established Brands and Fashion Retailers
Recognizing the demand for masks, well-known brands have decided to throw their hats in the mask production ring. Masks can also be a good way of advertising, depending on how the company designs its masks. Things to explore: What do these established retailers think of the potential of the industry? Which companies are in the market for the long term? Is there a race to create the industry standard for masks? How much success have they seen in the market so far?
With the pandemic leaving many furloughed or unemployed, people have looked for the alternate forms of income. The relative simplicity of creating a mask has encouraged many to try their hands in the mask market. Through word of mouth or marketplaces like Etsy, these independent creators selling their wares can be found. To understand this section of the market more, reporters should look at how these sellers stay competitive and separate themselves in what seems like a crowded market. Also, what do they see as the future of the market, their place in it, and has the experience been profitable?
Medical Face Masks
The CDC has provided guidelines on what masks are ideal. The mask that fits the guidelines of the ideal mask is the N95 mask, but these masks are to be reserved for medical workers. This led to a rise in popularity of the KN95 mask and other medical type masks. More research can be done into companies that usually sell medical type masks. Are they sticking to providing personal protective equipment to frontline workers or are they also selling masks to the average consumer?
Other Ways of Exploring Industry:
Consumers- Research and get an idea of what customers look for in a mask and where they go to buy their mask
Regulations- Are there plans to regulate what certifies as an approved mask?