How Will Corona virus Impact Mississippi Businesses in the Long Run
The long-term effects of COVID-19 will likely change the way consumers shop for products and services. Regardless of how fast the economy recovers, businesses will operate differently than in the past to meet consumer demands. It’s important to be aware of these changes and how they can affect your internet marketing in Mississippi.
Below you’ll find a breakdown of the various industries and how they may be impacted by the long-term consequences of COVID-19.
Concerts, Sports, and Live Events
People are expected to shy away from large gatherings, at least in 2020. For the most part, these events are on hold so there isn’t potential for people to attend them even if they wanted to. The cancellation or postponement of these events is affecting the travel industry, as there are far fewer activities to do on vacation. That said, travel, in general, is picking back up.
Restaurants and Grocery Stores
Drive down the streets in well-populated areas and restaurants seem to have no trouble filling tables. However, in the grand scheme of things, many are suffering. According to this survey, nearly one-third of adults say they’ll eat at restaurants less often in the future. Restaurants also anticipate serving less diners because they have to spread out their tables further.
Grocery stores, on the other hand, are expecting to increase their sales, especially as more people eat at home. On top of that, curbside and home delivery services are on the rise. At the start of COVID-19, there were record numbers of people ordering their groceries online. While there will always be a need for grocery stores, we can expect to see them going more digital in the future.
Retail and Online Shopping
Online shopping is growing at record numbers. It’s been on the rise for quite some time, but the pandemic has pushed even more people to shop at home. In March, Amazon sales significantly increased due to coronavirus. Unfortunately, this means bad news for brick-and-mortar shops.
Studies by UBS, a Wall Street investment research firm, revealed that 100,000 retailers may permanently close their doors by 2025 as a result of online shopping. Malls may also be in danger of shutting down as traffic in these shopping centers is drastically slowing.
Conferences, Meetings, and Trade Shows
Online gatherings will continue to be the norm for conferences, meetings, and even larger events like trade shows. That said, most people in this industry say that they look forward to a hybrid approach that offers both in-person and online interactions. This way, people can choose the model that works for them while saving time and money. Depending on the coronavirus, this industry is hoping to see some in-person events open in the fall of 2020.
How do you think COVID-19 will affect your business in the long-term? If you’re experiencing slower business right now, use this time to improve your internet marketing in Mississippi. Your customers want to hear from you! Contact WSI Star Web Solutions for suggestions on how to connect with your audience during this unprecedented time.