As You all Know COVID-19 (Coronavirus Disease) outbreaks all over the world in December 2019 and starts spreading rapidly all over the world and due to this Pandemic Situation Economy is in the worst situation in every country. Furthermore, the safety precautions as per WHO guidelines:
- Regularly and thoroughly clean your hands with an alcohol-based hand rub or wash them with soap and water.
- Maintain at least one meter (3 feet) distance between yourself and others.
- Avoid going to crowded places.
- Avoid touching eyes, nose and mouth.
- Make sure you, and the people around you, follow good respiratory hygiene.
- Stay home and self-isolate even with minor symptoms such as cough, headache, mild fever, until you recover.
- If you have a fever, cough and difficulty breathing, seek medical attention.
DECREASE IN TRADITIONAL RETAIL SALES:
Agriculture, imports, exports, etc. is highly towards the falling trends and this is going to high impact on the economy of Pakistan as well as throughout the world.
Many countries of Asia like Singapore, Malaysia, South Korea, and Pakistan also facing a downfall in the business of tourism as well. As Singapore Tourism Board quoted that due to this Covid-19 there will be a fall in the tourism industry around 25-30% at the end of this year.
Further, as in Malaysia those who are the owners of the mall encouraged to give rental rebates between 30-50%.
Retail sales and shopping all over the world is highly decreased due to pandemic situation and fear of getting infected with Covid-19. Secondly, all the retailers are now heading towards the digital marketplaces and websites to maintain their sales and customer retention.
BOOST IN E-COMMERCE MARKET:
Moreover, it has brought a comprehensive change in E-commerce Market (Online Shopping) because, as of now due to Covid-19, this is changing the overall scenario of people because, day by day the cases are increasing and Government implies Lockdown for the sake of public that they can stay at home and stay safe from this virus.
As we all know to make ourselves safe from this virus online shopping is the best option.
According to the research shown in express tribune article that concludes that
“After the outbreak of Covid-19 in Pakistan, Sales of fast-moving consumer goods (FMCG) items on Digital Marketplaces are doubled and they were expected to rise more to 70% of total sales on the platform in the coming weeks” (Read More)
As most people of the world are in quarantine and online shopping is at its peak, As per Forbes:
“There’s been a 129% year-over-year growth in e-commerce orders as of 21st April 20 and an impressive 146% growth in all online retail orders” (Read More)
This shows that people are now moving towards the digital marketplaces to buy brands and products online.
Retailers and traditional shopkeepers are now helplessly moving towards online marketplaces such as BuyBrands.pk to easily make their business run.