The economy is literally paralysed, not in a single country but globally. After the lockdown in India, the government is slowly reopening each sector of the economy with conditions. Strict social distancing, face masks, and hand sanitation are imposed on all business firms. Coronavirus pandemic is not going away any time soon. We have to cope with a new lifestyle to beat the further spread of corona. Taking care of yourself will not only help you stay healthy, but also help you stay calm and focused so that you can adequately take care of your family.
New normal will be a great challenge for small business owners. B2C market is facing the biggest challenge in the post COVID economy. Local business owner should encourage customers to use face mask/shield, hand gloves, hand sanitation, etc. Many companies are trying to make the vaccine and some pharma companies are already started the human trials. The vaccine may be available for the public within a year or two. The economy may be back to normal by the second half of 2021.
We need to accept the new situation, It is not possible to wait until the reach of vaccine to reopen the economy. We have to reopen the market while limiting the risks of spreading infection. Even though some segments are opening slowly, physical distancing is forcing customers to stay away from the crowded place. With the covid19 becoming part of our life, entrepreneurs and marketers are need to rethink traditional marketing methods.
As per the estimates in the year 2017, around 34% of Indians use the Internet, which translates into over 480 million users. It is estimated that Internet usage has increased by 47% in the world in the first quarter of 2020. The estimates showing that in India there are 696.77 million internet users in the year 2020. This is a clear indication that brands find their audience in the digital universe. Entrepreneurs leverage online marketing tools, creating a website, showcasing their products/services online, Should create more Online marketing. Entrepreneurs should make sure that, create special packages, offers, and design, etc in the way that it really response to set the psychological mindset of customers. Due to lockdown more casualization has happened in citizens’ minds. Customer’s expecting more values on each paise they spend on the product and service.