Uncertainty is a bit certain during the COVID-19 season. Besides the fact that we cannot literally see what we are up against, the spreading disease is also now messing up with the global economy. The smoke from the initial impact is already subsiding and we can evidently see the damage it did to our world market so far. But the attack is not yet over. The battle is still waging.
By far, most of the small and medium enterprises around the globe has been hit. Although there are still some which carry on, it is still uncertain how far these could go. Below are only some of the early forecasts on the probable new norm on the business industry. However, note that these can still change depending on how hard the upcoming impact/s will be.
Traffic will be bigger online rather than the streets
Since “physical distancing” is one of the most important rule in this season of Coronavirus, people are mostly prohibited to go or is only allowed for a very short period of time. Therefore, physical stores are expected to have lesser walk-in customers, while ecommerce websites will have more visitors and new potential consumers online due to the demand to purchase essentials and other necessities through the Internet. It is safe to say that we can expect a surge in volume of traffic and transactions on the World Wide Web rather than the formerly busy streets in the coming months. With that, industries like web hosting and building, programming, and digital marketing are predicted to go for an upswing due to this.
Online security will be as much a necessity as physical security
Because of the above-mentioned expected swell in purchase transactions in the Internet, there will also be a predictable upturn in the number of fraudulent activities and scams – and ecommerce website owners and clients are the most likely targets. So it is suggested to strongly anticipate this through forging a good Websecurity for your website and even for your own devices.
Mobile applications will be more useful (and should be more accessible)
In the coming months, businesses should most likely invest on mobile applications, aside from websites. Through a mobile application, you can provide a more personalised service to your potential clients. But make sure this mobile app should be working well upon launch.
Long queues with physical distancing shall be expected (and implemented well)
Physical stores may still be present. But expect long lines and excellent implementation of the new rule of thumb – physical distancing.
Not all industries will be able to cope
The saddest forecast of all – unfortunately, a number of industries around the world will be hit hard and not be able to cope until 2021. It is inevitable that many businesses will close down in the coming months, even during the start of next year. As a result, hundreds of thousands of workers globally will be unemployed.
Despite all the anticipated changes and unfortunate presumptions, we are still hopeful that this pandemic will normalise the soonest time possible, so that its effect to the global economy will not be as hard as it is predicted to hit.
