Last Updated : 2020-11-05 11:40:11
An outbreak of coronavirus, which originated in China, has infected thousands of people globally. To reduce the risks associated with the infectiousness of the disease, many countries and their cities have been put in lock-down, taking quarantine measures on the entire population.
Also, global companies such as Google, Microsoft, Apple, Salesforce, Twitter, etc. have performed door-to-door management amidst the increase of COVID-19. People are informed to avoid social gatherings and visit other countries or cities to avoid more spread of the disease. These limits are leading to a trade slowdown in some industries, while some are least affected by the epidemic. Finance, Entertainment, Technology, Hyperlocal Marketplace, Travel, Retail, Hospitality - Let us see the impact of the COVID-2019 outbreak on these industries.
Tech - As technology firms have shut their offices and markets, reducing their administrators to travel to the affected areas, this has negatively influenced supply chains. For example, manufacturers in China are major suppliers of technology companies around the world. Manufacturers affected by coronaviruses are failing to deliver on time, affecting various technology businesses.
Insurance - The need for life and health insurance schemes has seen a 35-40% jump on online insurance programs in India. On the other side, travel insurers have felt a drop in the number of insurances due to journey restrictions. There are positives and negatives of the coronavirus epidemic in the insurance industry, depending on the type of insurance company.
Hyperlocal Marketplaces - While people are subject to isolation to minimize the effects of COVID-19, hyperlocal delivery services are taking the most advantage of it. Doorstep delivery services for food, medical, grocery, package, etc. are gaining momentum. To make it safe for recipients and riders, food delivery companies such as Deliveroo, Postmark, Instacart, Zomato are offering options to opt for contact-less delivery, with the rider dropping the package out the door.
Retail & eCommerce - The mall, shopping centers are temporarily closed under the influence of COVID-19. Also, as people make a distance from social gatherings and crowded places, they prefer to order their favorite or essential goods online. The same is the case with retail trade. In contrast, digital commerce businesses are trying to make the most of this situation. Nevertheless, flourishing in such an outbreak is still a challenging task for eCommerce businesses.
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