The Corona virus outbreak has surely induced a sense of panic amongst everyone in the world right now. While the concern of human lives is crucial with regard to this topic, it is frugal to address the impact on our economy. With the ongoing situation, it has been predicted that the current tends may continue.
Let us take a look at the impact the corona virus situation has had on e- commerce and digital marketing companies.
- Trend of shopping from Home
The Corona virus breakout has prompted many cities to stay indoors starting right from Wuhan in China to a number of other cities around the world, leaving the streets deserted. The outbreak has escalated the growth of online purchases rapidly, as more and more people are avoiding the streets.
- Cancellation or postponement of events and conferences
Due to the prevailing situation, a number of events and conferences have been either cancelled or postponed indefinitely. As a result of this, many are shifting to webinars and several other conferences and events being hosted online, which has put a large emphasis on association with content on digital channels and online lead generation with advertisers, who are still waiting to get their message across to the audience.
- Dearth of Products in stores
Export, import constitutes of one of the major supply means. The supply chain has taken a serious hit due to the corona virus outbreak, as several countries have stopped the entry and exit of foreigners into their land in order to prevent or contain the virus. In short, lesser supplies leads to product shortages. China is one of the biggest markets and a sole exporter to many Countries. Countries relying solely on China are in deep trouble.
- A drastic shift to ecommerce
In order to avoid the fast spreading infection, many have shifted to online shopping. China has seen a drastic upswing, in the sales of staples like rice and flour as compared to 2019. While the nature of products bought online in huge quantities is somewhat unpredictable, it is a brand’s responsibility to keep check on how the consumer behaviour changes along the crisis.
- Work from Home – trending
This has been one of the most crucial crisis that has happened in today’s date, the digital world leading to remote working of many multinational companies. Due to the work remotely scenario, companies such as Microsoft have seen a 500% increase online team meetings and conferencing.
Certain apps and all in one software like Net suite, Zoho have also witnessed a hike in purchases due to the remote working situation.
- Impact on SEO consulting
Sure, ranking number one on the search engine is essential, but that doesn’t mean you have won the battle. It just means that you’ve set up the stage for your sales and you’re on top of the list. But if there is no supply, there is no point of demand. This can drastically affect the search marketing leading to a drop in clients.
All in all, at these trying times it is necessary to keep tabs on the changing consumer behaviour, as this could turn out to be a short lived or a long-term impact with regard to the changing circumstances. While the ecommerce is currently showcasing the biggest shares of overall retail sales in comparison to other time, it is likely there might be a huge impact on Digital marketing as well in the long run.