Do you have complete information on Corona Virus? Are you running a business? Are you equipped enough to face Corona? What about your business? Is it equipped enough to face the Corona Virus? Are you wondering how the COVID-19 will affect your business?
Wonder no more.
Today, Let us unveil one by one the effects of Corona Virus on the businesses, rather e-commerce business. Get into the mindsets of people, understand their buying behavior. See how it is going to affect your company. And then, decide for yourself the steps you need to take.
Corona Virus, Its Impact And Precautions:
“Ohoo Ohoo” has finally stopped being Madhuri Dixit’s dialogue and has become India’s hello tune. This was a source of many memes circulating is the Indian social media. But jokes apart, it is time to address the topic.
Yes, I am talking about the current hot potato – ‘Corona Virus’.
Corona Virus is a group of viruses that cause COVID-19. This is a respiratory tract illness. It started from Wuhan in China and spread to other countries. It is somewhat like Severe Acute Respiratory Syndrome (SARS). SARS outbreak started in China in 2003. The viruses which caused SARS also cause COVID-19.
The bad news is that the world has not yet found the cure for Corona Virus. That means the situation is quite serious. There have been 224 positive cases in India with 5 deaths. And the Death toll crossed 10,000 till 20th February 2020.
Precautionary measures are being adopted by the whole world. There have been restrictions on travel. Flights are monitored, and passengers are screened. The governments have asked the people to avoid going out, curfews are being put.
E-Commerce is the online buying and selling of goods and services. This business commenced in 1994 and has been on an increase since.
Today there are many online platforms for carrying out transactions. So, the businesses are willing turn towards the web to increase their transactions. Also, there are many E-Commerce Development Company which help businesses launch into E-Commerce. This has made buying and selling rather easy.
Techasoft Pvt. Ltd. is such an E-Commerce Development Company. It has the technical expertise and provides IT solutions to businesses. If your business is utilizing this platform, I am sure that you know where I am coming from. If not, you might want to think again. And let me tell you why.
Corona Virus And E-Commerce Business:
The outbreak of Corona Virus has set the world in frenzy. Transport is restricted, stores are shut, people are staying indoors, and businesses are being affected.
Hospitality and the Travel industries thus seem getting the burnt end of this stick. These businesses are in decline in the past weeks due to corona outbreak. The online bookings of Hotels and Flights have declined, and many events are cancelled. There is no avoiding this, but being pre-warned is being prepared. If you are into Travel or Hospitality, you can be no longer passive. You need to take active countermeasures to overcome this.
Less people are maneuvering to go out and are observing self-quarantine. Children are no longer playing sports in the grounds. This is affecting the physical and online sales of clothes/apparels, accessories, sports apparels, etc. And if so, E-Commerce businesses need to take precautionary measures ASAP.
Sports matches are being cancelled and even the Olympics 2020 is also in question. And on the contrary, many companies have switched their events to online events instead. So, E-Commerce in this field is in boost.
The Health Sector is on an increased as opposed to a decline in apparels, accessories and travels, etc. And thus, online shopping of daily necessities and health care products is increasing.
Groceries are daily needs of people. And as the people cannot go out, they are shopping online grocery too. Thus since Corona Virus outbreak, online grocery shopping has increased. My suggestion to ones involved in E-Commerce business of groceries is to gear up. Be ready to fulfil the increasing demands.
This health scare has led to more and more people ordering online health care products such as sanitizers, masks, etc. So, if you are into business selling such products, now is the time to get into E-Commerce business. And if you are already into it, you’ll be experiencing a boost in your sales. I suggest, stock up more.
Now let’s come to entertainment sector.
Companies and shops are shut and employees are on paid leaves. It is rather boring for them, and hence, there is increase in access to media sites. People are opting for virtual news papers to reach out to the world; and more people and watching online movies and web series. And so, the media sites E-Commerce business is on incline.
Also, there has been increasing demand for Tech companies – like our Techasoft Pvt. Ltd. – as more and more business are moving towards E-Commerce to adapt to the present conditions. This is necessary to continue businesses, even if on E-Commerce platform.
It is said, ‘Prevention is better than cure’. All businesses need to be pro-active instead of just reactive in today’s conditions. Desperate situations call for desperate actions. I suggest being adaptable and change quickly to meet with the changing circumstances.
Be informed, be safe, be healthy, and profit always.