Covid-2019 brings Tsunami of Digital Opportunities
Year 2020 has brought massive job loss across Globe, the figure seems blue. This appears alarming for both, the Fresher’s as well as the Working Class, as on one hand where the freshers are being denied their job offers and on other Working Executives realized that single source of Income can never be safe in this ever-changing world.
This very realization of 2020 has developed a feeling of deep insecurity in the hearts of all. The falling interest rates on bank deposits have made Senior Citizens vulnerable as lower-income is making it difficult to meet their bills.
Small business-men who are unable to turn Digital are watching their business going down slowly. Homemakers who were busy with their daily chores are now looking for income sources where they can work part-time to support their families.
It seems that the online concept of products and services reaching customers' doorsteps was introduced to prepare us for the Covid-19 kind of situation.
This pandemic has compelled businesses to take their digitization game seriously. As a result, there is a Tsunami of opportunities for the people indulged in Digital Marketing, Affiliate marketing, and e-commerce, here are some pieces of evidence:
✔️Giants like Amazon are investing heavily and have recorded a 40% jump in revenues. (Source: FE)
✔️Luxury sales are anticipated to triple by 2025, reaching USD91 billion. Nearly one-fifth of all personal luxury sales will take place online. (Source: ESW)
✔️ During the pandemic time, while department stores sales are anticipated to decline by over 60%, e-commerce is expected to increase around 20% in 2020 (Source: wef)
Digitization offers businesses the key to survival in the time ahead:
The businesses which might have started as additional touch points have become the prime platforms for selling and buying products. Yes, the indication here is towards e-commerce.
Now, e-commerce cannot do magic alone. It needs a carrier of digital marketing to reach the target audience. It needs an affiliate marketing tool, too, to help the audience make purchases with better cognition.
Thus, there is no denying that there is an upsurge in demand for digital marketing professionals. Further, the trend of e-selling has reached the smallest towns of the countries too; such is the penetration level!
✔️ 71% of British consumers are shying away from shopping in malls at Christmas
✔️ The World Economic Forum assesses that the economic value of digital transformation of business and society will exceed $100 trillion by 2025. (Source ZDNET)
✔️ 70% of companies either have a digital transformation strategy in place or are working on one. (Source: ZDNET)
These statistics clearly show that the buyers have not lost their buying capacity, as was predicted earlier. They are just finding new ways to shop safely and be served with caution.
Educational Platforms like Massive Open Online Courses (MOOCs) also witness Digital Technologies' profound influence which allows anyone to learn from classes run by Professors of Ivy League colleges for free. NoPayMBA.com permits you to learn what is taught in business schools at a petty amount. Khan Academy teaches students from Maths and Science to preparations for various tests like GMAT, SAT, etc. for free.
2020 has witnessed a paradigm shift in Global Education System. Lockdown has augmented the acceptance of digital technology. Businesses, Educational Institutions, Analytics, IT, and Online Education Solutions have worked in tandem and improved the quality and delivery mechanism of Online Education.
This has opened a vast potential for virtual classrooms using numerous online tools that allow engagements between the teacher and students almost as good as real.
The concept of Virtual Classes is still evolving and am sure that soon this idea will deliver free world-class education even to the most disadvantaged sections of our Society.
World Health Organization said that the world must be better prepared for the next pandemic (Source: Reuters), so all efforts should be taken to safeguard Public Health and Global Economy when Next Pandemic knocks our door and in doing so, Digital surely plays a central role.