Currently, the world is experiencing an unimaginable storm namely Coronavirus or COVID-19. A lot of countries are affected by the biggest pandemic. The countries are in lockdown and the humans are quarantined or put in self-isolation. The situation is making everyone across the globe feel pity for people who are affected, especially for those who are sick and those who might lose their loved ones. But what do you feel for people who might become unemployed? This pandemic is not only taking people’s lives but is also upsetting the world economy.
Today, everyone worldwide is horrified due to the outbreak of Coronavirus. The virus is tremendously spreading with each passing day and has infected many countries. Along with human lives, the virus has also impacted the global economy since most affected countries are forced to declare lockdown to save citizens from the pandemic. The world’s leading economy is falling since the businesses have shopped their operations for many weeks. Retail, pharmaceuticals, manufacturing, and many more industries that function with the presence of the employees are now unable to function in this situation.
Online businesses like, e-commerce, digital marketing agencies, etc., on the other side, don’t need to shop their operations entirely. Such businesses are operated through internet connectivity. However, to help nations control the spreading of this deadly virus, many employees working with digital marketing and e-commerce businesses are allowed to virtually work from their homes. Well, this doesn’t define that digital businesses are not impacted by the outbreak of COVID-19.
What are the challenges faced by digital businesses in today’s situation?
Due to Novel Coronavirus, all the major digital marketing events and conferences have been canceled. Most large scale events necessitate paid registration considerably in advance. However, the attendees will suffer a considerable cost. Not only the attendees, but the organizers will also lose the chances to crack potential deals and make announcements for some vital product or service. Moreover, they will also bear the cancellation cost of the event space.
Nevertheless, organizers can still go on with their plans. They can host the entire event without the audience. Shooting the event and streaming it for the viewers to watch and get glimpses is indeed a good idea. Yes! The live elements won’t be there, but it is anyway a better option than canceling the entire event or conference. This can, however, mutually benefit both the organizers and attendees to share and become aware of the upgraded digital marketing updates.
The supply chain system of the E-commerce industry has been disturbed due to the factory closure. The extensive expansion of COVID-19 across the world has resulted in various factory closures. More and more people have started shopping online since they are unable to go out to fulfill their day to day necessities. Besides, it has been noticed that online buyers are now active during the daytime. It is quite unusual. Shoppers usually don’t browse during the daytime.
Notwithstanding the lockdown situation, e-commerce stores are obtaining more business. People in all Corona infected locations are unable to go out to get their basic requirements like vegetables, medicines, groceries, etc. In these circumstances, they buy things and get them delivered at their doorsteps through online shopping applications. You may be surprised to hear that the usage of online apps to buy vegetables, groceries, medicine, etc. has been tremendously increased.
In any e-commerce domain, the consumer’s side is digitized. A few simple stages they need to follow to get the required product, i.e. selecting a product, placing the order, making the payment, and waiting for the delivery. But, for vendors, delivering the product at the provided address is a challenge in this situation.
The supply chain is already disturbed due to the lockdown situation across the world. However, on-time delivery of any required product is the biggest concern for any e-commerce industry.
Digital marketing is showcasing its best performance and is playing safe against the outbreak of Corona. With somewhat less profit margin, digital marketing is operating successfully. In terms of online advertisements, some people believe that the spendings on ads will be affected if the golden opportunities drop. But, reallocating the ad spend is possible. Due to the COVID-19 pandemic, it is believed that the advertising market may fall and might not perform well. But, the amount spent on the ads will be reallocated later on during the year.
Moreover, it is indeed not necessary that the economical situation due to the outbreak of Corona will impact the investments done in advertising.
Employees working with technology companies, small to big, are allowed to work from their homes. Even most mobile app development companies like CS Web Solutions considering social responsibility have allowed the employees to work from their homes. Without a doubt, working from home provides everyone the chance to work remotely with better flexibility and better planning.
Unfortunately, by working in isolation, the ability to solve problems, and creativity can get affected due to the lack of group collaboration. Meetings in-person are the best way to resolve issues in a quick, easy, and clear way. But allowing the staff to work from home, the technology companies are aiming to reduce the socialization as long as possible and are contributing to breaking the chain and stop the pandemic spreading everywhere.
If you run a digital marketing company, e-commerce store, of a technology company, there are fewer chances for your business to experience tremendous loss. Your operations are not stopped. They are still going on and you are without interruption able to serve your prospects. Nevertheless, productivity and efficiency will, of course, get affected.