Effects of COVID - 19 in the Marketing and Business World
Due to the COVID - 19 pandemic, the world has experienced certain changes, companies have been shut down, the stock market is crashing, people have been mandated to work from home and some have even lost their jobs. This is indeed a difficult time for everyone and businesses of course have been greatly affected by this global crisis. Research shows that COVID 19 has shut down retail sales almost entirely during the lock-down period, however, brands that have e-commerce offerings and direct to consumer marketing have skyrocketed in sales. E-commerce businesses such as amazon and Jumia has experienced an increase in purchases, as consumer behavior is changing rapidly and more purchases are being made online, although this is based on the category which the business operates. Most businesses are therefore inclined to make a total digital transformation, as many of them have been forced to get rid of the traditional methods of marketing and invest more in TV campaigns and dig...