It is not a surprise anymore that the current pandemic has changed our lives drastically. From hygiene to lifestyle, it has altered everything. And when the lifestyle of even a definite community changes, it leaves an impression on commerce.
According to R Cancello, “More than a third of people were able to positively reorganize their lives during the forced home confinement. It is worth disseminating information to preserve a healthy lifestyle even when confined at home.”
But here, we are not talking about a group of people, but the whole globe. Since now, we have turned into a global village because the best and safest way to connect with everyone is online.
According to the International Labour Organization, “Organizations that were previously familiar with teleworking, as well as organizations that have not experimented with teleworking before, were sending their employees home, creating the conditions for the most extensive mass teleworking experiment in history.”
Source: International Labour Organization’s Practical Guide
There was an impact on the business industry. After consideration in a matter of weeks only, the traffic from brick and mortar shops has shifted to e-shops. Today, we will discover the influence of lockdown on the world of e-commerce.
THE TOILET ROLL DEFICIT
As stated by Science Daily, “In economics, hoarding is often explored in the context of savings. When consumer confidence is down, spending drops, and households increase their savings if they can, because they expect bad times ahead,” explains Professor Baddeley.
Remember how people were so clueless about how they will be able to buy their necessities and started hoarding? Most people had to search besides their local stores. And this brought them to search for all of it online. They searched at different platforms, all of the ways they had avoided earlier in fear of fraud.
The complication is of the exhortations or regulations to work, one needs to have faith within our fellow citizens and in the government authorities that are equipping them. If people do not trust that the majority of others are going to play by these unorthodox and limited rules, they are unlikely to stick to them themselves.
A well-known example is the “tragedy of the commons,” firstly determined by shepherded animals overgrazing the lands. In certain conditions, those who run after their rational self-interest develop worse consequences for themselves than if they reacted on a basis of reciprocity, expecting the rest of the public to do the same.
RISE OF ENTREPRENEURS
In a pandemic, everything was closing without prior warning. Hence, various industries got hit. Thus, it ended in a loss when the companies could no longer manage the equation; downsizing began.
Pandemic made companies allow many potential and well-deserving employees to resign. And then, one person was presumed to cover for three. They covered for three as were blessed to be at least employed.
Laying off employees is difficult in normal times; but amidst the Covid-19 global health crisis, the task is “emotionally and cognitively overwhelming,” according to Joshua Margolis, a professor at Harvard Business School.
All this made most of us realize how temporary our jobs are and how unstable only one line of income can be. No job was secure until and unless you are taking up more than your assigned responsibilities, Most of the employees have to work for extended hours and had no margin for breaks. And due to the pandemic, Some had to give up their jobs as they had no such facility at home to work for their employers. For small chunks of money with more targets, Some were demoted and some had to work.
Such uncertainties and job insecurities lend some people towards entrepreneurship. A good number of entrepreneurs emerged during the lockdown. Most of them as expected were employees that were let go by their organization. They looked for the potential market. And worked on their social circle to spread the word and help them to survive the pandemic.
“Among everyone who is becoming entrepreneurs, most of them are ex-employees, thinking that most of them had learned so much from their ex-companies — taking knowledge and any useful pieces of information for their next business. These ex-employees adored entrepreneurs very much. After becoming slaves for some corporations, getting rid of your bosses and becoming a boss in your own company is like a golden ticket to heaven,” according to Kenny Rivaldi.
With free time, principal savings, and the help of a platform like Walee, a range of prospective entrepreneurs emerged. Walee plays an active role and supports entrepreneurs. It has introduced numerous and diverse marketing campaigns related to all kinds of enterprises. Walee has made entrepreneurs improve themselves and their living standards. An affiliate program was introduced which made all this was made possible.