3 coronavirus ASX shares to buy as consumer preferences change

The coronavirus has led to a change in consumer preferences and as a result I believe these 3 ASX shares could reward investors.

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The coronavirus pandemic has had a significant effect on ASX shares in 2020. It's initial onset sparked the bear market in February and March but then also saw many ASX shares surge with changing consumer behviour resulting from lockdown restrictions. Whilst Victoria is still battling a second wave, I believe that even as the economy emerges from the pandemic, some ASX shares will continue benefitting from changing consumer preferences. Despite the phenomenal rally in their share prices already over the past year, I'm confident the following three ASX shares are still well positioned for continued growth over the coming years.

3 ASX shares to continue benefitting from coronavirus

Marley Spoon AG (ASX: MMM)

I was really impressed by this company's latest quarterly report. After a significant rally in the past year of a whopping 410.94% (at time of writing), I still believe the Marley Spoon share price has further to run. Particularly because of rising coronavirus cases in Victoria and along the east coast of Australia right now.

However, the uptick in services like those offered by Marley Spoon may also represent a structural change in how people buy their groceries. Marley Spoon's chairman, Deena Shiff told shareholders this week that "Looking beyond the second quarter results which we released today, the acceleration of demand has not only brought forward our point of operating EBITDA (earnings before interest, tax, depreciation, and amortisation) profitability, but we also believe, represents a structural change in the markets in which we operate".

In my view, we could be witnessing just the beginning of a very bright future for the Marley Spoon share price. 

Goodman Group (ASX: GMG)

I believe Goodman Group is benefitting from the shift to online shopping, particularly due to the company's warehouses. During a time when other companies are eliminating, cutting or deferring dividends, Goodman Group was able to maintain a 15 cent per unit distribution to investors, payable next month.

Additionally, the Goodman Group share price has recently reached a 52 week high of $17.14. Its share price has, however, pulled back slightly from this to be currently trading at $16.96.  

In a May update, the group stated "Despite the challenging global environment, customer demand in the online, logistics, food, consumer goods and digital economy, is supporting portfolio fundamentals and development activity". As a result, Goodman Group has a high occupancy rate for its properties of 97.5% and strong demand for its properties continue.

Kogan.com Ltd (ASX: KGN)

Earlier this month, Kogan announced a business update showing continued strong growth in its business across both sales and profitability. As consumers are shifting to online purchases in increasing numbers, I believe the company could continue to be a beneficiary.

Founder and CEO, Ruslan Kogan said "In early July we celebrated four years since listing the company on the ASX, and we are now proud to have delivered four consecutive years of significant growth in sales and earnings." I believe this trend could continue well into the future as consumers are growing more accustomed to online shopping. 

Furthermore, Kogan recently undertook a capital raising to provide the company with the financial flexibility to act quickly on future opportunities and acquisitions. 

On the down side, however, Kogan is awaiting a penalty decision from a recent Federal Court Judgement which has caused the company's share price to take a tumble from to its record high. Despite this, the Kogan share price is up a staggering 241% in the past year. 

Matthew Donald has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Kogan.com ltd. The Motley Fool Australia has recommended Kogan.com ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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