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COVID-19 – DISASTROUS 2020

COVID 19 - DISASTROUS 2020 Business impact b-updated

Since the spread of Corona Virus (COVID-19) has increased; the manufacturing sector has planned to shift their units from China; emotional and Economic backlash against China is expected. COVID-19 have proven to be disastrous for China in 2020. Already, countries and companies are working on a strategy; to do away with China as part of their supply chain strategy. Japanese Govt has announced packages for its companies bringing back manufacturing home. Let’s further discuss the disastrous effects of COVID-19 in 2020.

Before the rise in the COVID-19 pandemic, the electronics industry witnessed modest growth globally. Electronic companies in India which are dependent on imports from China; are hoping that the effect of the COVID-19 outbreak would ease in the coming months with several factories in China ramping up their production after reopening.

However, hurdles rose in logistics, reduced footfalls in stores, and a drop in demand with the rapid spread of the virus to other countries, including India, have emerged as new challenges to the brands.

As the ongoing season proves to be a carnival for Consumer durables major, but it has given a blown away due to the upheaval in the normal flow of time. As they fear that they will lose out on peak summer sales as the ongoing lockdown is likely to have a severe impact on sales of air conditioners, refrigerators and other white goods.

Due to this outbreak, the consumers will also put a halt in their spending on the purchase of premium white goods products which will result in reduced demand. The COVID-19 impact will be felt on sales of appliances from March through May, which account for 30-35% of the total sales.

“The challenge which consumer durable brands may have to deal with both un-interrupted continued supply and well as generating the desired demand.“

For potential customers, health and safety will become a priority. Customers will tend to spend more on this area with reduced discretionary spending.

People will spend on cheaper goods than on expensive goods, or delay spending for a while.

Extreme acceleration in the digital economy. I.e. Home education, home entertainment, home fitness, etc. There have been overserved an increased demand in subscription of Netflix & Amazon Prime in India.

A pro-active step has been taken by the consumer electronics brands by extending their warranty on products; which were expiring in the duration of lockdown to connect well to the customers.

Brand Loyalty to go for a toss- People will be less loyal towards brands as other aspects will take over. Customers switching brands will become faster due to various other concerns like safety, discounts, etc.

Let’s hope that things fall in place soon with a continued livelihood.

THIS SHALL TOO PASS, NOT TODAY MAYBE TOMORROW.

-Ashutosh Sharma

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Editors' TakeMedical ScienceTechnology

PM Modi encouraged the download of Aarogya Setu APP, Experts raise privacy concerns.

Aarogya setu, Covid-19, App, India, Corona Virus

Aarogya Setu app that was launched in March of 2020 to tackle the community spread of pandemic COVID-19, was encouraged to be downloaded by Prime Minister Narendra Modi when the addressed the nation on Tuesday. The app enable contact tracing using smartphone location and Bluetooth have crossed of 5 million installs in just 3 days of its launch. Since the app is using smartphone’s GPS and Bluetooth to identify the potential spread of infection, it can be used by used to exactly trace the location of the user and the app asks to allow the location tracking even in the background.

“Download the Aarogya Setu mobile app to help prevent the spread of [the] corona infection. Inspire others to download the app as well,” said Prime Minister Narendra Modi while addressing the nation.

This was not the first time when Prime Minister has encouraged the download of Aarogya Setu app. He even posted on social media a few days back, the link to download the app for both Android and IOS devices.

Additionally, the Aarogya Setu app download has been promoted by various commercial banks by sending a text message to their customers urging them to download the app that has been developed by the National Informatics Centre (NIC). The initial push helped the app to be downloaded over 5 million times from the time it was launched. As tweeted by the Program Director of Frontier Technologies at NITI Aayog, earlier on Tuesday, the app crossed the mark of 40 million active users within two weeks of its launch.

The Aarogya Setu app was also praised by World Bank and similar app is being developed by Singapore to place same limit on the community spread od Covid-19 pandemic. Apart from all the good this app bring, the way Aarogya Setu works has raised a lot of privacy concerns. The India division of the New York City-based Software Freedom Law Center (SFLC.in) said that Aarogya setu collects sensitive personal data such as a person’s gender and travel information that it stores in the cloud.

Nonetheless, as per the latest mention by the Prime Minister on India, the app will boost in downloads as we saw in the past, with Coronavirus Whatsapp chatbot that crossed over 1.7 crore users in the short period of 10 days of its launch.

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