Covid-19 Impact To Business Today and Tomorrow

by | Nov 23, 2021 | Covid-19 | 0 comments

COVID-19 is not the latest news any longer. One month from now, the pandemic will reach a 2 years period staying on earth. Due to this, many have changed but let’s see this from the business perspective how it really affects them.

  1. The Rise Of Online Shoppers

Consumers around the globe have been sheltering at home for months and purchase their daily needs through shopping online. In fact, some of them have shopped online even before the pandemic started. Till now, the online market has increased two times compared to pre-pandemic. They also rely on the internet for news, health-related information, and digital entertainment. Entrepreneurs are starting to realize their business can easily run online with less cost and greater flexibility in a large marketplace.

  1. Change In Customers Needs And Expectations

Staying at home has shifted consumers’ expectations on what they want and how they want their products and services from businesses.

Customers’ requests for basic commodities are greatly higher than discretionary items. This is most likely due to the concern that essential goods are not sufficient to accommodate every household, which also leads to consumers stocking up more household needs before quarantine starts.

As everyone prioritizes their health and safety during quarantine, they prefer to purchase their daily needs online and restrain from physical contact with others. It is now a need for every business to have their own online store or customer service to serve their customers. Some even provide service up to 24 hours for 7 days a week to strive for competitive advantage in the market.

  1. Increase Of Customers Demand For Online Purchasing

In order to satisfy consumers’ needs during the virus outbreak, companies need to reassess how they operate and serve their customers without physical contact. The requirements include online transaction over cash, fast and secured, and is able to reach the customer service as soon as possible. 

Is not as easy just to transfer everything on to the Internet, considering everything can be seen by anyone, transparency is shown as well. There will be a comparison between every business products and services and only with their own uniqueness or competitive advantage can stand out in the crowd.

Conclusion

Covid-19 outbreak has really sped up the digital transition of every business. The unexpected acceleration of online shopping is a highlight to many companies on the necessity to digitize their business to suit consumers needs and fit in with the trend. The platforms that are mostly utilized to advertise their brand are Facebook, Instagram, Google and WhatsApp, which have the most active users. However, some new businesses are still uncertain whether to join in the trend because the world is recovering and consumers are allowed to shop physically again. 

The question now is will the trend towards e-commerce uptake continue even at the recovery stage?

Most likely, yes.

It is inevitable that purchasing online is much more convenient, less traffic, and more variety.

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