How Pandemic Affect the Businesses In 2020

Posted by Saboor on December 24th, 2020

According to the survey conducted in the USA by PNAS, the pandemic has adversely affected businesses despite its size. Whether it’s a small scale business or a large size multinational, we have seen some of them closing their operations entirely as they were short of funds and unable to pay their employees salaries. The occurrence of this situation led all of us to think about the measures we should take if God forbid something like this to happen again in the future.                   

Many businesses neither had any plan nor resources to handle this colossal pandemic resulting in layoffs or complete closure of their businesses. If we talk about which industries were most affected by Covid 19, we come to know that hospitability and travel are the two industries that faced huge losses in 2020. However, despite the adverse effects of the pandemic on businesses in 2020, many businesses adopted a pandemic friendly approach and made people’s lives easier. Many NGO’s and research based websites are offering workshops on how to survive in this pandemic to all type of businesses.

This pandemic friendly approach, of course, requires a remote environment where the businesses can be operated online and no physical touch is required. For example, Microsoft allowed all of its employees to work from home even after the pandemic ends to keep their employees safe. Home based businesses, on the other hand, took advantage of this situation and offered their services to their customers while staying at home. Moreover, these workshops emphasize ways businesses should adjust to the pandemic, as WHO has clearly stated that we might have to live with the coronavirus for the rest of our lives.

In this time and era, smart are those businesses that are ready to make significant changes to the way they are managing operations. We have seen a great rise in e-commerce globally. People start preferring online options of shopping than stepping out for obvious reasons. This big change in the buying pattern has given many businesses an edge over others in this pandemic. 

Let’s look at some of the e-commerce giants worldwide that made it possible for their customers to carry out their daily shopping sitting in the comfort of their homes.

Amazon

As we all know that Amazon is a global e-commerce giant. It has nearly 38% of the e-commerce market. Covid 19 pandemic gave a boost to this e-commerce giant and made Jeff Bezos, the owner of Amazon the richest man with a net worth of 8 billion. With all this information about amazon, the brain still wonders how amazon survived the pandemic despite the closing of giant retailers having big stores to cater to thousands of customers already.

Well, this e-commerce giant’s growth secret lies in its foolproof model of doing business online. Amazon offers its customers, an endless variety of products, low prices, same-day delivery or delivery within hours, and a huge stock of everything to be available all the time. 

Starting with safety products like sanitizers and masks at the beginning of the pandemic, people also ordered basic household items and groceries through amazon. Amidst the pandemic, with the increase in the demand, amazon stocked up a vast variety of fitness gear and office supplies that aid people in working from home. As experts state that amazon will acquire one-quarter of total retail sales by 2025. Even after the pandemic is over, people will not go to brick and mortar shops because of the fear of the virus. And this newly formed habit will give rise to online shopping in the coming years. 

Best Amazon Affiliate Websites

This year pandemic restricted people from going out to shop for events like Halloween, Easter Day, or Christmas. For this, Amazon comes to the rescue and made it easy to order gifts online. But the biggest problem is still there, that what to choose from the huge number of items available online. For this, we have several websites that suggest the best products in every category. 

For instance, if you want to search for some cool gadgets to gifts your loved ones or to buy for yourself, then, wirecutter.com is a website that you can rely on. This website has the latest and the coolest gadgets reviews available. You can also compare the gadgets from different brands and decide what suits you best. 

Other than this, if you want to search for general items like baby milk formula, car accessories, gifts items for Christmas, etc. then consider alltopselling.com. Alltopselling is a new website that mainly focuses on in-depth reviews of products available online. It hosts a large number of amazon products to choose from. The best thing about this website is it covers all of its products unbiasedly. This website has well researched products from amazon ranging from everyday items to technical items like car accessories, games monitors, etc.

There are several other review websites for amazon products that cater to the same cause of helping people find the best deals to buy online.  

Alibaba

After Amazon, the second biggest e-commerce website is Alibaba. It a Chinese company with a net worth of .6 billion US dollars. Its owner and founder Jack Ma have a net worth of .8 billion US dollars.

While Amazon is 15x bigger than Alibaba, but Alibaba is considered china’s Amazon. During the pandemic, when the entire China’s economy was affected, Alibaba was soaring its business like anything. It follows the same approach of business as Amazon that led to its huge turnovers even during the pandemic. 

Conclusion

The pandemic has not just wiped out many businesses from the face of the earth, it has also changed the dynamics of doing business. Now, future entrepreneurs must follow the pandemic friendly approach to get their businesses up and running consistently. The need of the hour is to identify the gap and fill it wisely otherwise the future crisis won’t give a second chance to any business.