Question

What is the impact of Corona virus on online market activity?

Answer 1

Corona Virus has brought the world to a standstill. Most of the world has seen lockdowns and people have preferred to stay inside their homes. Working from home has become the new normal and students have also started studying through the online medium.

We have seen certain changes in consumer behavior as well due to the Corona Virus and there has been a significant change in the way consumers behave.

Most of the people these days prefer to shop online for most of the things rather than going out and buying. So, in order to tackle this opportunity, most of the companies, whether small or big, have started the online activity. They have either used their own resources or collaborated with other companies in order to have an online presence.

No matter what kind of product or service a company has, most of them have shifted to the online market. Also, as the consumers have started spending more time at home, hence, it has been observed that the time spends on social media has increased.

So, most of the companies have started using social media in order to promote and advertise their products. Also, the use of digital payments has increased substantially as most people have started using online services.

The online market activity has seen a drastic increase and it is expected that this trend will continue even after Corona Virus situation is improved.