Coronavirus pandemic is affecting the world in the most extreme ways possible. The business community is being affected the most in this situation. However, the online latte delivery business is still doing pretty well. They are catering to people that are self-isolating themselves.
A short-term accommodation company had to deal with 60 cancellations. This happened because the federal government gave out orders to limit group gatherings, and they asked travellers from oversea to self-isolate before entering Australia for 14 days.
The Rise of Takeaway
Barclay card operators found out in a survey that more than a quarter of their daily shoppers are avoiding the high streets, shopping malls, and any busy areas so that they don’t get infected by the bug. They do not wish to come in contact with the virus at all.
The pandemic is creating a huge shift in the market that online delivery services like Uber Eats and Menulog are experiencing a severe surge in sales. Whereas, fashion chains, food chains, restaurants, and departmental stores are taking a significant hit.
When you look at the statistics, departmental store sales dropped by 3.6% in February, and restaurant sales dropped by 6.4%, clothing chain sales dropped by 1.7%, and airline fares dropped by 0.3%, and 0.7%, yet fast-food delivery sales have risen by 8.7%. Most shoppers and travellers try to stay home so that they do not catch the virus.
Now that people are in home-quarantine and they have to stay at home, they are heading over to digital content subscription services. They are bored and have nothing to do.
When you glance at social media platforms, you will see that people are almost always talking about how they are incredibly bored, and they are looking for new series and movies.
It is an excellent sign that shows that services like Netflix, Now TV, and Disney+ are doing an immense amount of business. A report indicates that these services are experiencing a massive growth of 12.4% since February.
BRC Chief executive, Helen Dickinson, says they are experiencing a hang in the cloud in the retail industry for this very reason. They are experiencing an overload of traffic, which they were originally expecting when they made the platform.
Before the COVID-19 pandemic, the retailers were taking basic measures for hygiene. However, after the spread of the virus, the retailers are making sure that they do not, in any way, spread the virus.
The retailer is taking extra measures to keep their surroundings clean. They are now following the guidance of the Centers for Disease Control (CDC). The guidance tells them to increase their daily cleaning facilities and especially to keep an eye on the delivery operations. They ask the delivery employees to increase the use of sanitizers.
Retailers are limiting their employees travelling and providing them with paid time off, remote-work schedules, and also restricting them from travelling to high-risk areas. They are also consulting medical experts in epidemiology about how they can keep up their worker’s well-being.
Retailers such as The Mobile Experts, a large phone repair chain in Australia, with 36 stores, have introduced new services such as in-home phone repairs to cater to those who can’t visit their physical stores.
Focus on Digital Channels
After experiencing this extreme pandemic, experts predict that most businesses will move on to digital marketing rather than conventional marketing.
Reports say that this will all happen in the coming few months. Most businesses will have to rely on digital marketing. Jewellers such as Moi Moi Fine Jewellery are bringing their consultation services online through video chat and offering ‘try then buy’ services to customers can try the ring on at home before they make the purchase.
Reports say that since humanity is going through tough times right now. This will have a very long term impact on everybody as there will be a lot of barriers in face-to-face businesses.
In this situation, non-digital industries are in serious trouble. They are the least sophisticated, and they will struggle the most because they will have to build a system from scratch. It is sad for new businesses to rely on getting their customers by word-of-mouth.