The U.S. government has just started to send out a third round of pandemic-related stimulus checks. Many Americans need this money to pay for basics like food and utilities; others who have more of a financial cushion might splurge on luxury goods. If you’re an investor in the latter group — and you’ve paid off your debts and set aside enough for an emergency fund — you might be wondering how else you can benefit from the potential consumer windfall.
Companies that provide essentials are poised to gain when Americans spend their stimulus money, but so are some businesses that specialize in upscale products. In both cases, companies that have invested in digital technology and differentiated their goods and services are most likely to take a bigger piece of the pie now and in the future. Here are three examples if you suddenly find yourself with spare cash to invest.