10 Reasons Why Your E-Commerce Store Needs a Mobile App
Last Updated - April 27th, 2020 5:33 AM
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2020 has already been quite a year, hasn't it? Who would've thought that soon the
world is going to be battling against an unexpected, new-born virus, which would
soon cease human activities, almost all over the globe. This sounds like the story
line of an old Sci-Fi movie, right? Corona virus crisis has hit our personal lives
hard, but it has hit our professional lives even harder. People are advised to stay
indoors and adapt social distancing as an everyday practice, till we have a better
solution to deal with the global pandemic. There is no sugar-coating this situation.
Thousands have lost their lives, and many severely affected.
People working in major sectors such as hardware
manufacturing, logistics,
hospitality, transportation and tourism have been critically impacted. They've lost
near and dear ones, their freedom, their jobs, and have incurred huge losses in
their businesses due to COVID-19 crisis. Aiming at keeping ourselves well informed
on what is going on and how we can make conscious changes in our personal and
professional lives, we have important information and advice to businesses on how to
embrace the situation with open arms and transform the face of their businesses. To
stay well informed is the first step to device the right path forward.
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Impact of Corona Virus Crisis on the Global Market
The corona virus pandemic has left most, if not all, businesses counting costs.
World's major economies are suffering grave damages during corona virus crisis.
Shares worldwide have taken a big dip since January. Investors, across the sphere,
fear that the spread of the corona virus will destroy years of progression in
economic growth. Consequently, unemployment, especially in the U.S., has hit an
all-time high. The developing countries are suffering as well, with reduced labor
and low cash flows, and poor healthcare facilities make it even more sketchy. The
travel industry is going through loses due to movement restrictions and no tourism.
Industrial production is suffering due to bans on imports and exports.
China makes up a third of manufacturing, globally. As a result, all of
hardware selling businesses have suffered delays, customer escalations
and lost opportunities. And so, the vicious circle continues
indefinitely. On one end, if you had your business partners or suppliers
linked to China, the impact to the supply chain and eventually customer
satisfaction has been devastating. On the other end,
China makes up a third of manufacturing, globally. As a result, all of hardware
selling businesses have suffered delays, customer escalations and lost
opportunities. And so, the vicious circle continues indefinitely. On one end, if you
had your business partners or suppliers linked to China, the impact to the supply
chain and eventually customer satisfaction has been devastating. On the other end,
customers, to begin with, are hesitant to purchase or do business due to budgeting
or cost cutting measures due to the global crisis.
There's no denying that the situation is bad, and that we will
take time to recover and get back on track. But if there's a silver lining in this
emergency, it has to be this- the universal pandemic is nudging us to stay digitally
linked with the universe and try to regain what is lost- connect, stay informed, and
collectively work toward resolving the crisis. Despite of all the downfalls of
COVID-19 at a macroeconomic level, all is not grey. This could be the birth of a
truly digital culture that all old and new business owners must welcome.
Legacy business owners need a shift in their plan to keep their
businesses afloat. If you had a traditional store with great customers, you suddenly
find your profit plummeting. You're not getting much anything anymore, are you? So,
at this point, do you accept defeat and relive all the good times your business has
had in the past, or you put your energy in devising a plan to embrace the Digital
era now more than ever?
If you're a fresh start-up owner, you had planned just the perfect road
map focusing on growing your business and getting stability. The only thing that you
didn't consider was a world crisis. Should you keep your blinders on and continue
your planned path, or take a new approach?
10 Things That Businesses Need To Do During The Corona Virus Crisis
10 Things That Businesses Need To Do During The Corona Virus Crisis
10 Things That Businesses Need To Do During The Corona Virus Crisis
10 Things That Businesses Need To Do During The Corona Virus Crisis
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