In the 1970s the oil supply shock led to energy conservation and greater efficiency. The bursting of the internet bubble in 2000 forced companies to make money on the internet rather than just having a creative idea. The 2008 financial crisis brought Occupy Wall Street and the progressive movement. The COVID-19 virus, too, will change behavior. Here are some examples of how our habits will change.

Grocery stores have marketed online food ordering for a while, but with little traction. For the largest grocery store, WalMart, this is changing. Customers order online, WalMart bags the groceries, and then they meet you with the food in the parking lot. According to one study, 58 percent of online grocery shoppers used WalMart and half of those people were first-time shoppers. Getting a first-time customer is the hard part. No doubt many of these customers will continue the service long after COVID-19 disappears.

Online communication tools will be increasingly used by schools and other institutions. Both teachers and students are learning how to best use this model. This trend will continue. Zoom Video Communications, a video conferencing company, is the most downloaded app. Teachers, churches, small businesses and friends are using it to communicate during this time of isolation. Larger businesses are migrating to Microsoft Teams. The more people using video conferencing now the more will be using it after the coronavirus.

Beginning in the 1980s businesses have used the just-in-time inventory system. Instead of keeping a lot of inventory, goods arrive right before they are needed. The coronavirus will make international manufacturers think twice about relying on one source for components.

A final change: since the floor of the NYSE is closed we don’t have to see pictures of the same floor traders looking exuberant on up days and showing despair on down days. Good.