Question

Given the disruption of business by the Covid-19 virus, how might business models change going forward? How have business models adapted? Might some business models become more prevalent or obsolete in the future? Provide examples and justify your answer. (250 words).

Answer 1

Answer-Due to COVID 19 virus and due to the lockdown in all over the world offline stores are badly effected, even consumers are also in fear of the spread of coronavirus due to the offline goods and services, businesses are in huge loss due to the coronavirus, some studies also show that small businesses and traders will not able to retain their businesses due to the loss during the COVID 19 pandemic.

Business models are now shifting from offline modes to the online modes of business consumers are also demanding online mode of shopping more than the going to offline stores in malls and complexes. Due to the fear of the spread of coronavirus consumers are not preferring offline shopping through stores in malls, supermarkets or departmental stores, as COVID 19 virus vaccine is still not developed and it will take at least a year for the development of a vaccine that's why the offline mode of businesses can be obsolete in the future times, nowadays due to the COVID 19 virus online model of businesses are trending, in future, we can also see an increase in the market share of online business more than the offline mode of business.

For Example-Due to the COVID 19 virus offline stores of clothes , groceries are now days offering their products through different online shopping platforms.