The current pandemic situation has affected people worldwide. Economies are at stake and it would take a good amount of time to get back on track. A large number of people are losing their jobs because companies are downsizing, but at the same time, many other job opportunities are also being created. Nonetheless, everyone is worried about the future of employment post-COVID-19 situation.
Some people, especially those working in banks have to go to their office daily despite the lockdown, but some are lucky enough to be able to work from home. This has caused a lot of load on the consumption of internet countrywide. If your work from home is getting affected by poor internet connection, then have a look at packages offered by Spectrum Internet service; with speeds up to 200Mbps and no data caps, it is one of the bests internet services you can get your hands on.
Even if you are working from home, we are sure you are thinking about the future of your employment. Let’s take a look at what havoc this pandemic is creating.
TRADITIONAL BUSINESS VS E-COMMERCE
The pandemic has proven to be not just a health crisis all over the world but also a financial crisis. Traditional businesses especially have suffered huge losses because of this situation. New entrepreneurs have gone broke before they could even start to make money. The US stock markets have also suffered one of the worst quarters ever due to Coronavirus.
Traditional Businesses
Due to the limitation of human interaction traditional forms of business have suffered a huge fall. The International Labor Organization (ILO) has predicted that 25 million jobs are at risk due to the Coronavirus.
- Food sector – No restaurants are allowed to operate except for some that are offering home deliveries that too have been directed to conduct under extreme precautions. Cafes, hotels, restaurants have been locked down for over a month now. Workers such as chefs, waiters, managers, security staff are unable to earn monthly income and hence many households are suffering from financial crises.
- Education: All schools have been closed down; not only teachers but also school owners, managers, security, peons, etc. are suffering because they no longer have any jobs.
- Services – Grooming salons, online cabs, public transportation – the entire service sector is also suffering as it can no longer serve people due to social distancing. So until the situation has fully calmed down, these services will continue to suffer financial instability and losses because of not being able to make money.
- Entertainment – all recreational places like cinemas, parks, malls have been banned as well, which means no customers and hence no money. Most of the movies releases are also getting canceled or postponed, so at the moment all those who had investments or stakes in entertainment businesses are in very bad shape
- Retail – malls have been closed down which means all brands are suffering as well as sales have been greatly affected.
- Travel – borders have been closed to avoid the spread of the coronavirus. There are fewer or no flights hence airline companies and the franchises present at the airport like the Duty-free shops are paying huge financial prices.
We still don’t know how much longer all these sectors are going to stay cold.
E-Commerce
While traditional businesses seem to be in really bad shape the e-commerce sector is BOOMING!
B2C – Business to the consumer includes businesses that are in direct contact with their consumers online, there is no third party or supply chain involved. Amazon announced that it will be hiring 100,000 workers in the US and will also increase their pay. This proves that globally even those retailers that have their online shops are lucky as more people are staying at home and are shopping online. Hence all sorts of businesses that are connected to their customers online are benefitting from this situation including online groceries store, online pharmacies, etc.
C2C – online transactions taking place are usually provided by services like PayPal, and Craigslist. When people shop online, they most likely use these services for their transactions, therefore giving these services a boost.
C2B – this is a great time for doing gig work because this situation has opened up a lot of opportunities for freelancers. Sites such as Fiver, Upwork are getting good traffic because people are at home, bored, having nothing to do plus those who were daily wage earners or are staying at home because their companies have shutdown is reaching out on these platforms so that they can earn some money. The companies providing online shopping services are rigorously marketing themselves digitally and for that, they need designers, social media executives and hence they are hiring people for various gigs.
Delivery Services – restaurants that have opened their delivery services, small businesses operating through Instagram and Facebook pages, Amazon, eBay – all of the sites selling products online need someone to deliver their products to customers. The demand of services such as Postmates, Grub Hub, Uber Eats, and DoorDash has increased since the lockdown. In fact companies like Amazon, Uber, and Doordash have made announcements and taken measures for the safety of their delivery workers. KFC and Pizza Hut have even launched contactless delivery service in China.
Applications – Most people are bored at homes so if you are thinking to launch a game app or an entertainment app like TikTok, this might be the best opportunity for you to do so.
What is the future looking like?
The current situation is proof that the world is not ready to face a complete shutdown situation. Even after the COVID-19 crises ends, the online culture will probably continue. For a certain amount of time, the goal of the companies will be most likely to mold their operations in a way that they won’t have to suffer in case another such situation arises in the future. Digital marketing would increase, gig works would be preferred and considered secure for a certain time, online banking, e-commerce, online education, delivery services would also get a boost. The demand for health and hygiene businesses will also remain high for a long period of time. Even the travel industry is expected to boom once the world is Corona free because people would want to get out of their homes and continue with their plans.
Wrapping it up!
The world as a whole will face high unemployment and low GDP rates, but every situation comes with different kinds of opportunities, you just have to look in the right direction.
- Baldwin Jackson is a successful digital marketer with expertise in search engine optimization and content marketing. The perfect balance of his analytical ability and creative thinking is what sets him apart from other practitioners in the digital marketing realm. He has helped a lot of small and medium-sized businesses in crafting their digital marketing strategies that are not only cost-effective but delivers results as well.
Baldwin is also a proud father of two kids and a Sports enthusiast. When he is not working, you will find him watching ESPN and NFL network. He has been able to get an amazing package on his favorite channels from Buytvinternetphone.com.