The Covid 19 Coronavirus is affecting the world in more ways than one. The media is pushing the fact that the we could be looking at the worst economic downturn since 1930.
What they may not be telling you is that money is still changing hands, only in new ways. Due to the close of brick and mortar stores, consumers are going online. Due to this, Online shopping is no longer a fad. Web developers are at a premium. The truth is in the details. The U.S eCommerce/online sales market broke 600 billion in 2019.
The coronavirus is and will continue to force the issue of online sales. Furthermore, Consumers can have products they would usually browse the aisle to pick up delivered to their door. However, the screen is now the aisle. Thus, comfort at its best.
The stock market
Along with other shocking statistics, the stock market has taken the largest fall in years as reported by news outlets. However, some companies have enjoyed gains in their stock share price which some media teams have avoided reporting on.
Amazon share price has increased 25.18% in the last 30 days. The close of market on April 21 saw 1 share of Amazon cost 2,344 US dollars (Revolut, 2020). An increase of a quarter is not to be under emphasized.
The rate of fall is quite astounding when we listen to what the reporters are telling us. Companies are picking up the pieces through no fault of their own. The only way to have avoided this loss in revenue would have been to completely change their sector of business. Consequently, the inevitable doom through the course of the global pandemic will force CEOs to consider everything.
Travel and leisure
Businesses in the travel or leisure sector will be considering liquidating their businesses. Business owners are considering their sentimental links to their business. Non-essential businesses can go online to sell the newest Nike tracksuit, for the businesses that have taken a direct hit in their services being unwanted, it’s not so easy. Cruise liner companies once graced the waters but are now plummeting into the deep blue abyss.
Government restrictions mean airline companies are not aloud to land at certain airports. Therefore, the airspace that jets usually roared through is now eerily quiet, as seen on many flight tracker applications.
The public have begun to acclimatize to the restrictions that have been set by the government. Supermarket sales soared with the announcement of restrictions. Although those with inside knowledge advised the public that supermarket shelves would continue to be stocked throughout the course of the pandemic. Understandably, the public weren’t sure who to believe. Stocking up on items such as flour to make bread and coal for the fire was the order of the day.
The public stock up on essential items regularly when a national sense of worry occurs. Storms have come and gone with the stocking of essential items paramount. Green party leader Eamon Ryan proposed that we grow our own food if “this really hits’s hard.” Therefore we believe if we don’t stock groceries, growing our food will be our only option. Growing our own food to add to dishes is one scenario, solely surviving on it would be another.
There will be a number of businesses busy when the restrictions are lifted. They will need to be busy to make up for lost revenue. These include hairdressers, dentists and other businesses that are not truly missed until they are gone. The ques will be long across the country in these and similar premises. Be prepared.