The corona virus outbreak was first reported in Wuhan district, China by the end of 2019. Covid-19 has been a menace this year and has affected almost all online businesses. There are several ways in which the pandemic has affected online businesses. In this article, we will discuss the subject of covid-19’s effect on online business.
Here are some ways in which Covid-19 has affected online business:
A growing audience for streaming services
While being locked at homes, most people are turning to online entertainment channels. Most online streaming services have gained immense growth since the audience is ever-growing.
For example, Netflix’s European market has reduced the quality of its picture by almost 25% to guarantee a robust bandwidth reach.
Other benefiting services from this pandemic include Amazon Video and Hulu. There are some strugglers in online business at this time and they include BBC-ITV business and Disney which require devising new ways to cope with the current pandemic.
The gaming business is ever rising
Most young people who are locked indoors are taking the online gaming business to a new level. The online traffic for online gaming service providers has improved like never before and these companies are making a huge reap.
For example, Sportspesa has resumed its services in Kenya since the audience is ever-growing. Most young people are taking this time to make some cash by gambling online which is a good thing for the gaming business.
The worldwide rise in online shopping
Since people are being restricted from moving out, it has become a habit for them to consult online shopping service providers. To evade contacting covid-19, most people are using online shopping businesses to deliver goods to them.
These companies have agents and the right workforce who deliver goods to consumers directly in their homes.
Travel service providers will continue to improve
Most people currently are wondering if it’s prudent to take a holiday. One thing certain, half of the people who usually take holidays, are likely to make them possible shortly. Also, business people are likely to book travels soon to ensure their businesses are operating well.
While it seems, the pandemic is manageable, and a vaccine is being distributed most people will prefer holidays away from home. This is a good thing for holiday bookings service providers. The business will continue to grow like never for this sector.
In conclusion, Covid-19 is having a great impact on every online business and is affecting them in diverse ways. For most online businesses, it’s a challenge since the demand for consumers is reducing day by day.
All in all, there is light at the end of the tunnel since online shopping ventures have retained customers and improved their overall selling range.