How e-commerce and other businesses are struggling with Covid-19 in Pakistan? Impacts of Pandemic on Daily Shoppers
The year 2020 has been very cruel to some extent. Many lost their loved ones; some lost their business and other stray their health. The overall world economy was crashed rapidly within no period. Where the whole world business is collapsed, the economy of Pakistan is also affected by the global pandemic.
The economy of Pakistan after Covid-19
Like every other nation, Pakistan was also hit badly by the Covid-19. The economic rates faced a rapid drop down as the world financial system collapsed. Pakistan, as a nation, was also struggling with health issues before the world pandemic.
Looking into the detailed statistics, Pakistan`s GDP growth in 2018 was around 5.8% which was likely to arouse. After the hit of covid-19, it drastically dropped down to almost 0.98% only.
Does the downfall of the economy arouse e-commerce?
To some extent, e-commerce was raised a bit. Though the overall economy has clashed, people who were able to get access to electronic media succeeded in continuing their work. Work from home, stay-home stay-save strategy allowed a lot of people to invest in e-commerce, and hence, it saw a little arousal.
Increase in the medical business
Even though the whole world economy was slipped down due to this contagious disease, it gave great business to the medical field. The online medical stores and pharmacies struggled out to dispense medical aid to the needy. Though the local pharmacy faced a downfall in the lockdown period still, many medical stores were able to e-commerce in the pandemic as well.
Different Impacts of Global pandemic on the different business strategies
We have gone through the struggling economy is facing after the covid-19. Here are some of the impacts of the global pandemic on different business strategies.
The effects of covid-19 on the local market:
the local market of the nation was smacked down badly due to covid-19. According to the analysis, the local market faced a big loss regarding the business. Whether it was the business of eatables, groceries, clothes, or electronics, the local market was clashed down.
Impacts on import/export:
The borders were strictly banned against other countries. Still, many other countries have prohibited international trade. This thing gave a big collision to import/export trading. From the beginning of 2020 till now, import/export trading has not been restored.
The collision of daily wagers:
In Pakistan, 40% of people are daily wagers. Either in a form or another, they earn their livings through a daily-wage strategy. This category of labor was knocked down the most by this pandemic. Though many struggled to continue it via e-commerce, that doesn’t stand back in that way.
Impact on the electronics and mobile market
Talking about the electronics and mobile market, this industry faced a dual impact. Although work-from-home made the way quite easier, on the other hand, the electronic industries impede the delivery process. However, the mobile market faced a little arousal due to online-study and work-from-home strategy.
The rise in online business:
Where every other business was faced difficulties, online dealing increased. Either it was online food service, the necessary items regarding the fight against the pandemic, or online consultation. The online dealing got the hype. Even now, after 14 months into this pandemic, online food and groceries have become the trend.
The wrap-up words
If we look into the overall economy and e-commerce market, we would know that it has struggled a lot. Some industries have to fire their staff or deduct a huge percent of the salary amount. But this is just one side of the phase.
On the other hand, many industries have raised the hiring of staff up to 10%. Well, it all depends on the situation and strategy of business and e-commerce you are into.