Coronavirus’s Impact on Online businesses- Alternative Opportunities?

No, it is not the end of the world. No doubt, Coronavirus (Covid-19) has been announced as the pandemic by WHO, but many positive things have been observed about the virus for the last four months. WHO announced that if you are tested positive for Covid-19, there is a 97% chance that you will be recovered without any medicine in a couple of weeks.

It is being said that CoronaVirus will impact the business more than the people’s health.

And we already see the worst crashes in the Stock market. Over 90% of businesses are being affected by the virus, and this is the real issue that you should be worried about.

As the Coronavirus consistently spread, China’s status as the epicenter of substantial supply chains is contributing to changes that are significant to business organizations and also customer behavior. This’s not just putting a strain on several industries within the nation, but multinationals running from and working in China are experiencing the consequences also.

Global retail and tourism were hit especially tough, as Chinese tourists present a significant source of income for a lot of markets. Within January 23 and February 13, daily departures and arrivals for international and domestic flights in China dwindled from an average of 15,071 to 2,004, based on information from Flightradar24. Furthermore, a few retailers have temporarily closed places, along with Apple announced it would not meet up with its Q1 revenue direction due to disruptions going on across the supply chains of its in China.

Precautionary measures by WHO (World Health Organization)

Since the WHO has declared Coronavirus as a pandemic, there are a lot of myths revolving about the virus. WHO has officially broken those myths.

Some common myths include

  1. COVID-19 virus can not transmit in areas with hot and humid climates
  2. Taking a warm bath to prevent the new coronavirus disease
  3. Hand dryers effective in killing the new Coronavirus
  4.  Spraying alcohol or chlorine all over your body kill the new Coronavirus
  5. Vaccines against pneumonia protect you against the new Coronavirus
  6. Eating garlic help prevent infection with the new Coronavirus

And many more. The WHO is busting all Myths. Moreover, the World Health Organization has issued the proper precautions for Coronavirus (Covid-19). You can read about them in detail on the WHO website. But here are some important ones explained.

  1. Avoid contact with the people.
  2. Wash hands after being in contact with any person or anything outside.
  3. Use a mask in contact with the other people.
  4. Avoid touching your mouth, nose, and eyes.

Impact of Coronavirus on Online Retailers

Brick-and-mortar merchants & restaurants are working with the harsh realities of cities across China getting placed under lockdown, as local governments enforce quarantine measures and limit trips outdoors. Significant retailers as Starbucks, Uniqlo, Apple, and Nike had temporarily shuttered the stores of theirs. In contrast, medium-sized and small retailers are now being hit, especially hard as foot traffic dwindles. (Some manufacturers as lululemon Athletica and Apple have started to reopen their stores, signaling a possibly improved outlook.)

For retail eCommerce, supply and shipping challenges are many, as Alibaba’s CEO Daniel Zhang has warned. According to a February Re Hub survey, customers in cities like Guangzhou, Shanghai, and Beijing count on the present situation to last a minimum of another four months. Additionally, 6 in ten stated they’re more likely to invest a similar amount plus on consumer products within the following three weeks in contrast to precisely the same time last year.

Visible Surge in Online Grocery sales and Food delivery apps (Alternative Opportunity)

Well, as most of the people are locked-down in their houses, a considerable number of people have been seen at the local grocery stores. Meanwhile, online food delivery apps are getting record sales nowadays.

So here is the opportunity for you if you are an online retailer.

You can sell online groceries and eatables online. But you can do that only if you have your delivery service, as almost all the delivery companies have temporarily shut down the services.

Amazon has also temporarily closed service, and it affected a lot of businesses associated with Amazon. Thousands of vendors that were dependent on the Amazon sales for their earnings are severely affected. And not only that, this has caused an increase in prices in the local stores.

Alternative Opportunities

There is always an opportunity in any difficulty. So, here are the chances that you can avail while staying at home. No one can predict right now when all the things will go regular. So, instead of filling your house with food and eatables, you can start any business from scratch.

Studies show that you are more productive at your home, as compared to a workspace.

1. Build an online business for good days.

So, this is the best opportunity to formulate new business. You can make the team online, can discuss your ideas with them, and can do business for the “good days.” The thing that you should consider right now is that you don’t have to specifically look for a business that is profitable in the Pandemic condition.

2. Use online platforms to learn new things.

From the time WHO has declared the Coronavirus as a pandemic, many institutions have announced that you get their paid courses for free. So, it is the best time to get educated. Harvard has made many of its online courses free. You can enroll in the class today, and that is also for free.

3. Create something new using technology.

It is the best time to do innovations. You can use technology to create something new for the solution of Coronavirus. You can also create something to help people in your surroundings.

Conclusion

Now you need to protect yourself and take Coronavirus seriously. But in the meantime, you can use this self-quarantine time to put some ideas into play to build your old business or do a new business according to the situation around you.

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