2020 has been a very challenging year, and there isn’t any doubt about that. The Covid19 pandemic radically changed the landscape of businesses across the world. The information available regarding the insights of the business world is quite conflicting. It means that people are still confused about the impact of coronavirus on businesses.

The fact is that right after the pandemic hit, people stopped spending their money. The whole world was forced to stay inside their own premises. Businesses were closed, and most of them stopped spending. The COVID-19 hit hard, and everyone felt it in the beginning.

With the passage of time, things started to get a bit normal. Everyone thought that the whole world’s economy would collapse, and it will be very difficult for businesses to stand on their foot again. But after a few months, people started hearing reports that some businesses were actually doing good during the pandemic situation. Even some of them hit their top revenues of the months.

By reading these stats, anyone can get confused easily and start thinking that what’s actually going on behind the scenes? How are some businesses growing under such critical circumstances? And how they can take advantage of the year 2020 and make it count?

To make you understand that what is actually going on, let’s break the things into smaller sections. It will be easier for anyone to understand.

1. Increase In The Number Of Internet Users

In the past six months, there has been a considerable increase in the number of internet users. With everyone being forced to keep social distancing and staying at their homes, people devised new ways and means to connect with the rest of the world through the internet. This has led to a 47% increase in data usage all over the world. If we talk about the impact of COVID-19 on the world’s economy, then everyone is saying that the economy is in bad shape. But some businesses have observed massive growth. 

If we talk about e-commerce only, we saw a sudden boom in the e-commerce market as the e-commerce industry saw billions of dollars of new sales this year. With more people turning online, the e-commerce industry grew dramatically in the past six months. As we know, people are under quarantine, and they can’t go outside to buy stuff. Still, they need to purchase things, and online shopping is the only way to get their desired stuff delivered at their doorstep.

Many businesses stopped their efforts, where some of them doubled their marketing efforts and shifted their business online. They realized the market potential and invested their money in online marketing and advertisements. The results were very fruitful. As there is no vaccine available right now, and no one knows when the pandemic is going to end, it has become the basic necessity of businesses to bring their marketing efforts online.

It is very clear that most people are shopping online and are staying in their houses to prevent the crowds in the physical market. It is important for you to bring your business online and pay attention to your online marketing efforts. If you want to sell your products online, then it is important for you that your products are displayed to them on the top; otherwise, your competitors will take the lead.