At the beginning of this year, the world has faced an unprecedented threat to people’s health and the global economy – the outbreak of the coronavirus. The first signs of the novel virus have been observed in China, where it emerged and started spreading with rapid paces to the rest of the world. The COVID-19 outbreak led to the global pandemic state, affecting every aspect of one’s life and bringing irreversible losses to business accross many industries. In such circumstances, it is crucial for companies and enterprises, especially those involved in the retail and e-commerce business, to show flexibility and quickly adapt to the changing situation.
In this article, we provide an overview of the main patterns related to consumer behavior in the changing circumstances and look at the possibilities for businesses to survive crisis times. To get more information on the impact of the COVID-19 pandemic on e-commerce and retail, check this post.