No one knows when the COVID-19 pandemic will end or what its true results will be. What is clear, however, is that the nature of commercial business has changed. According to Amperity’s COVID-19 Retail Monitor, as of March 26, overall retail demand was down 86 percent and online revenue was down 64 percent.
These figures are disheartening, but there is a bright spot: mobile orders were down only 18 percent. A recent McKinsey survey showed that online shopping in China increased 15 to 20 percent, and it increased 81 percent in Italy.
With challenges come opportunity. This may be the right time for you to launch an online business. To evaluate whether this is a good option for your business, evaluate the facts:
Launching an online business during this critical time is challenging, but it may be the right thing to do to keep your business viable into the future. For more guidance on creating an online presence, contact us today.
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