Coronavirus – Impact on Businesses
Top 5 Leaps:
All through the Phone
1. Digital Stores on Phone: Amazon, Big Basket, Grofers, Paytm, Swiggy, Zomato etc.
Household Utilities People will restrict from entering crowded markets and do all their necessity shopping online. From Groceries to Garments are all going to have rush on their orders and Customer may have to take the anticipated hike in Delivery Fee than usual.
2. OTT Platforms: 4th Basic Human Need – Entertainment
Looking at the Government guidelines of shutting cinema halls from few cities to more, people will get their dose of entertainment from popular OTT Platforms. Good time to release what is already parked in the release queue. Sooryavanshi the biggest March Release is deferred without a date in hand. Eventually, there will be a release war post Pandemic; it is advisable for small films to have a OTT release.
3. Healthcare – Primary Need at the time of Pandemic
It is already since quite a while that medical stores have run out of hand sanitizers and masks. There will be a great demand that will need to be met and corporates should help people meet this demand & supply offering a basic safety kit for the employee well-being.
Also, people will refrain from visiting doctors, and there will be a rise in taking Digital Consultation.
4. Online Education/Short Term Courses – Private or School Officials
Many schools might get lockdown to prevail safety measures. Though the good time is that vacation is around the corner. However, looking at different patterns at different schools. Private Academies will ensure they sell the online courses for children to learn from home through digital webinars, online courses etc. Be it short term or long term, this one is going to motivate people to keep the pace with education during the Pandemic.
5. Software Agencies – Monitoring Manner Hours
Soon many would end up working from home until the pandemic resolves. There will be a demand to substantiate the manned hours by the organization. Such software’s may help from small scale industries to large scale industries.
A good time for free-lancers probably who will give out their services working from their home. There could possibly a good raise of numbers in people offering free lancing services.
Top 5 Falls:
1. Travel Industry.
The Pandemic has been epidemic in its hit to the Travel Industry with the virus being spread in so many countries. People are restricted to hop countries, cities hitting the domestic and international travel both. It is the peak season where people travel during Summer vacations. Travel has taken an absolute backseat due to the pandemic.
From airports to Hotels, from small travel agents to big ones, all stands affected.
2. Event Industry.
Second largest hit due to Pandemic affecting right from big ticket global events to small scale event industries as everyone is regulated to avoid mass gatherings. This Zone will soon dry up to prevail safety measures until the Corona outbreak is resolved.
From Hollywood to Bollywood, Pandemic has affected the releases to avoid people coming closer in volumes. All the big-ticket films are deferred that will cause further clash into the release dates and affecting big Mullahs. Soon more theaters could be asked to shut to prevail safety measures affecting entire industry. But a boon for those who may release on OTT platforms.
4. Service Industry
There are high chances of layoffs at workplaces, asking people to take sabbatical, leave without pay and end up being at home. Corporates at this time should promote work from home then getting people out of the company as this may lead to another chaos altogether. It is time for people to take care of their own people and ensure they allow work from home sooner than later to prevail utmost safety precautions. There is no cure yet for the Corona virus, Prevention is the only way, It is time for Corporates to be an Example than being governed by the government guidelines that may come late.
5. Malls Retail Stores
In adherence to avoiding public places, Malls will encounter a sharp fall in their footfalls with people avoiding public places during the pandemic. Giving a boon to Online Shopping.