Coronavirus: How the virus is affecting Business’ in Australia

Posted on by zeal in

Since the WHO announced Coronavirus or Covid19 to be a pandemic, it has had devastating effects on all businesses in Australia. The effect of the coronavirus is the same as that created by any other disaster. It has stopped a normal day to day life. It has created the worst economic impact on businesses and the lives of the common folk and the nation as a whole.

With the spread of the coronavirus pandemic, people are forced to live in isolation and accordingly, they don’t come out of their homes and live their normal lives. This has a profoundly negative effect on businesses at a local and national level. This virus has affected all industries in Australia and businesses are forced to shut down their work for a certain time period which has badly affected their turnover and profits.

How is it affecting business’ and industries?

We all know the whole world is under quarantine. With people forced to live in isolation, the flow in the supply chain and consumer base has decreased substantially. Shopping malls, grocery stores, and day to day supplies have been badly affected due to the pandemic breakout from China. China is Australia’s biggest trading partner and is part of the supply chain for most consumer products. The entire chain is disturbed due to the spread of the Covid 19 pandemic.

Affected industries due to coronavirus include:

  • Export Industry:– Australia is the major exporter of iron ore, thermal coal, liquefied natural gas and other natural resources. China is the biggest consumer of these commodities and consequently the export industry in Australia has largely come to a standstill due to coronavirus. The trade chain with China is broken due to coronavirus and with the broken demand chain, the heavy industry working in the export sector faces huge losses. In turn this creates massive unemployment as people working in this sector are laid off as businesses are forced to close down, unable to stay afloat without cash flow through trade. It is envisaged that businesses relying on export industries in Australia also face depression-like scenarios.

  • Education Industry: – After the export industry another major impact of the coronavirus is seen in the education sector. With the outbreak of the Covid 19 pandemic, the ban on foreign students returning to Australia and staying in their home has caused a massive hit to Australian colleges and universities.  If the spread of coronavirus is not contained in the next few months, the education institutes could face substantially lower revenue.  The allied industries that support international students is also hugely impacted.

  • Tourism Industry: – The major impact of this pandemic of coronavirus can be seen in the tourism industry. Due to coronavirus a total travel ban has been imposed in Australia, not only from external visitors, but restrictions are preventing locals from holidaying away from their homes.  Allied industries such as cab drivers, hotels, restaurants, travel agents and tour companies are suffering from the decline in tourism and leisure. This is especially significant as these months are usually the busiest month for Chinese tourists due to the lunar new year holidays.

  • Food and Beverage Industry: – Food and beverage industry is a major industry sector for the Australian economy, in terms of both its financial contribution and employment. During this time of pandemic restrictions, the food industry plays a vital part in the wellbeing of the whole country. However many workers in the hospitality industry are being laid off due to these businesses being closed to the public due to government restrictions. Some businesses in the food and beverage industry, such as take away and supermarkets remain open as they are essential. Some, especially those supplying essential food products will be allowed to continue production, distribution and supply. These may even be able to make a profit, depending on which sector of the market they are in.

  • Small businesses and local retailers:- The income source of small businesses and retailers is dependent on turnover on a day to day basis. Without the foot traffic into retail stores, and the lack of discretionary spending in many homes due to sudden unemployment, these traders will likely suffer significant decline in their incomes. Due primarily to the social distancing requirements, many small businesses may have to close.  This may be permanent or temporary, depending on each business’s financial situation and ability to recover once restrictions are lifted.

How digital marketing services, social media and website designing can help to boost your business and increase awareness among the peoples about coronavirus?

 

As we all know it is a hard time for everybody. All of us must stay at home to prevent the spread of the virus. This can be good news because about 85% of people around the world are just sitting online and trying out new things over the internet. So this is the time to take advantage of the digital media platforms to make them aware of your business through various channels like social media, Google and other platforms. Now is the perfect time to maximise your effective digital marketing strategies and grab their attention using powerful web designs.

Digital marketing: Everybody loves a brand or company when it is popular with locals. So if you are promoting your business through digital marketing you are reaching your new clients, while engaging with your existing customer base. You can use your digital platform to make them aware of issues to protect them from coronavirus.. You can inform them about the services you provide and also let them know the precautions they can take to stay safe. This is the only way right now to grab maximum attention and prepare them for future buying behaviour.

Social Media: During quarantine or lockdown time period, the only way out to entertain yourself and stay connected with friends and loved ones is via social media.  Social media platforms like Facebook, Instagram, Snapchat and online content creation websites like Youtube, Netflix and Amazon Prime are playing an important role to keep people at their homes and reduce the spread of Covid 19. 

Social media is the best way to attract customers to your business. If you are using templates, videos, images etc then you can easily get the attention of viewers. Apart from that many individuals have various myths about coronavirus, so by providing them with reliable information in your templates, you can help them while adding value to your business. 

Website design: Layout and design are the most important elements to consider when you are planning to build your website. So, if you can inform and make visitors aware of COVID 19 issues through your website then it will be a great step toward your success and their health. With the help of digital marketing, you can easily reach existing and new customers online, and you can  and can have meetings online via skype or other video chat platforms.

Ways to reduce the impact of the pandemic on business  

  • The best way to deal with this pandemic of coronavirus and reduce its impact on the export industry is for the Australian government to explore new supply chain routes. Different countries will have less exposure to COVID 19 and trading in these countries will also reduce economic exposure to risk. Effective website design can also help, with everything available on the website it would be easy for the industry to develop new trading links, which can be later promoted on social media as well to expand the business.

  • The best way to deal with the coronavirus pandemic and reduce its impact on the country’s education industry is via widespread uptake of online learning. If online lectures are effective and well promoted, the greater retention of students will help students and educational institutions to retain revenue, or even make some profit in  times of crisis. This could also benefit with increased access from students in many parts of the world to be able to enrol via online learning. This may even increase the growth of the education industry in Australia.

  • The food industry can use online platforms to streamline their purchasing and supply of goods. Integrating delivery to the customer’s door will also improve compliance with social distancing measures to stop the spread of coronavirus. Local traders can increase their market by intensifying their customer base.

  • Small businesses and retailers can reduce the negative  impact on their turnover by starting to working online and partnering with a major dealer in their area and sell their product in their locality, without coming in contact with crowded shopping areas. Door to door delivery eliminates exposure to people who may be infectious without knowing it. Having good supply and distribution channels can also expand their business among locals.

  • Social media can play a vital role in spreading the idea of these new methods and educating everyone about the steps taken so they can change their normal face-to-face interactions and by increasing online transactions to contribute to stopping the spread of the coronavirus.

  • This is the right time to have someone create an effective digital marketing strategy with us which can work now for future prospects. Utilise this time effectively and give your business a boost.