How has the spread of the Coronavirus affected the various businesses?
advertising businesses
As coronavirus cases continue to sweep the world, the advertising industry is closely watching the impact of the spread on ad spending in volatile economies, changing consumer habits and affected supply chains.
Experts told CNBC that if the spread of the coronavirus continues significantly, it could lead to increased advertising spending in areas such as mobile games or streaming services if consumers end up spending more time on it. house during the epidemic, while advertising spending could decrease in areas such as outdoor advertising. The cancellation of major events like the Olympics could be another major factor affecting advertising spending.
The global advertising industry is no stranger to disruption and turbulence. Media agencies and companies have endured everything from natural disasters to overthrown governments, but these scenarios rarely spill across national borders.
The current COVID-19 epidemic, however, is different. Between general travel restrictions and a dense cloud of uncertainty, the global advertising machine slows down in some ways and pivots quickly in others.
Coronavirus is hurting store traffic and e-commerce won’t help much, analysts say
More than a third of American adults buy less in stores and more than half are expected this month due to the spread of COVID-19, a disease caused by a member of the coronavirus family, according to a note from Wedbush analysts on Wednesday …
Likewise, Morgan Stanley analysts led by Kimberly Greenberger found that last week, total retail traffic fell 9.1%, clothing retail traffic fell 3.9%, and retail traffic Luxury goods fell 14.7%, analysts said in a Wednesday note extending news coverage on the virus in the United States The second week of March could mean larger declines, they said...
Neither Wedbush nor Morgan Stanley analysts believe that e-commerce will fully mitigate their buying statements, according to their reports, which were emailed to Retail Dive.
Online education businesses have increased their in-app advertising by 1961%.
In-app advertising for Health & Insurance businesses has increased by 822%.
⬇️ In-app advertising for the “tourism” industry is down 45%.
⬆️on-line advertising increased by 703% in the “shopping” category.
These reports come as Coresight Research found that shopping center traffic was already down in February, before the most recent barrage of escalation cases in the United States. consumers cancel their travel plans. Alan Behr, a lawyer, and Phillips Nizer partner in the fashion industry told Retail Dive in an email last week that a change in behavior would hurt sales at these events.
New York (CNN Business)The coronavirus crisis is hurting America’s retail industry, so many stores are shutting their doors or reducing their hours.
Conclusion
Hopefully, the coronavirus will pass soon and have minimal impact on life. For the time being, try not to socialize too much with others or go to crowded places.
You should read this Washington Post article because it presents great simulations of how the coronavirus will spread and what we can do to reduce the impact on the world.
And when it comes to your marketing, it’s time for you to double up. Do not be afraid when others are also afraid. Do what Warren Buffett does … be greedy when others are afraid.
In other words, double down!