How Did COVID Impacted Online Businesses?

Most Of The Online Businesses Are Affected

Almost 60% of online retailers are already expecting or recording losses in their daily business due to the COVID crisis. 20% of online retailers have not yet formed an opinion to assess the risk posed for online trading. But one thing is certain for most retailers: consumer confidence from Chinese products are currently severely disrupted and 80% of all online businesses even expect the crisis to worsen. Consumer confidence is often used as a measure of how consumers view the financial situation. Even if many online businesses fear that they may experience a drop in sales due to the current pandemic, the number of parcels sent in USA and Europe is showing positive growth.

COVID

Supply Chains

All online businesses, whether small or large, had and in some cases still have to struggle with the impact of factory closures in Asia. Smaller online businesses in particular are hit hard by interrupted supply chains. While large online retailers usually have enough cash in reserve to quickly search for newer deliveries and sources of supply, a smaller business is powerless if the delivery fails.

What Changes Do Online Businesses Have To Adjust?

What changes do online businesses have to be prepared for? A very good question that probably every online retailer is currently asking.

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