The year 2020 has been a year of much turbulence and a lot of learning. The world has been struck with one of the deadliest and fast-spreading viruses named COVID 19.
While the first half has been somewhat of a reaction and adaptation to the newfound scenario, early into August we are well-tuned with the reality. One of the biggest impacts has surely been to the economy, which has spiraled down drastically leaving thousands in its trails.
India has been one of the worst struck countries by far, with the cases on a steady rise for months on end. Top scholars and economists have speculated a backward trend for the future but there is a silver lining to be found here.
The ecommerce magic
While some of the companies struggled to stay afloat, and while some perished, a few did very well. One of those companies is Amazon. Amazon has seen its share increase to an eye-popping 1.5 trillion dollars. This has become a major proof that online business is safe from recession to a certain extent.
This is mainly because of the lack of physical assets of interactions needed to make a purchase or make a sale. This new found way of commerce will not only transform the economy but also get more people online.
The pandemic proof online advantage
Creating an online business and attracting customers has never been easier than it is now. Since the majority of the business have switched or are transitioning online, it is the place to be.
Some of the major waves are led by sites such as Vishumoney, Paytm, and Reliance retail. Vishumoney has found the perfect niche, being there at the right place at the right time to give customers amazing discounts, offers, and Vishumoney coupons for their online purchases.
Paytm has enabled India to not use physical cash but use the digital one instead making it the perfect payment solution during this pandemic. Reliance has not only transformed India with Jio but now the new Reliance Mart seems to give a tough competition to the likes of Amazon, Flipkart, Grofers, Bigbasket, and more.
The day after COVID 19
As with everything, there is a positive effect and this has brought the world to be digitally enabled. This also makes sure that some of the top companies of the future have a very big dependence on digital and eCommerce. With vaccines being developed around the world it is just a matter of time till we are all safe and this is a thing of the past.
In such a situation it is essential to remember the turning point of our economy and modes of purchase. The next generation will surely be an online generation equipped to tackle any future events and crashes with eCommerce.
Companies like Reliance, Amazon, Vishumoney and others have played an important role and it is up to us to support and grow as the world changes before our eyes.