Impact Of COVID 19 On The Gaming And Retail Industry
UN Chief Antonio Guterres termed Coronavirus as “The Worst Global Crisis Since World War II”.
Coronavirus has transformed billions of lives in the last 2 months. Countries like China, Italy, the USA, UK, Iran, Spain, Germany, France, Switzerland, Netherland, and India are the most affected countries by COVID-19. Local & National authorities have taken strict action of complete lockdown from February to April’2020 end until the situation turns better. In a worst-case scenario, Lockdown may continue for a few months.
But the real question is, who is affected the most by this Novel Coronavirus?
The people who got infected? Or the businesses or the economy?
Few businesses may recover the loss but it would take years for the economy.
Pandemic has mostly impacted Supply Chain, Travel & Tourism, Hospitality, Technology, Fintech, and Banking industries. But you know what? Gaming and E-commerce Industries are minting money. Yes, due to lockdown people have to stay at home. Mobile is the only way to connect, shop online and entertainment.
As people all over the world are working remotely, schools are shut; leading to more apps installs and high traffic to gaming sites as mobile games are the prime pastime. It has been seen that women are shopping more, either for their home utilities or for themselves or browsing the list and adding to their wishlists.
Statistics :
1. There is a sudden jump of 25% in the revenue from the second week of March.
2. The engagement or the average time spent on websites has increased by 21% during the months of February and March 2020.
3. There is a 34% increase in online e-commerce business.
4. Mobile browsing app activity has increased by 40%.
5. The usage of image and video editing apps increased by 60%.
6. As per the app intelligence firm Sensor Tower, there would be an increase in app downloads especially utility apps for professionals who are working remotely and the education sector will see more online learning apps.
7. In India as per Tejas Shah, head of revenue and distribution at Games2Win; 15 lakh people are playing games on a daily basis as compared to 11-12 lakh people earlier.
8. As per Saumya Singh Rathore co-founder of WinZO Games, there is a surge of 3 times in online traffic on their platform.
9. It is forecasted that the consumer spending on the mobile app will reach $171 billion by 2024 which is almost double of $85 billion in 2019.
Brands are taking all the benefits of these situations; their advertisement reach has been increased leading to more conversions, because people now have ample of time to spend on social media.
AdEngage is one of those brands that have given its clients a positive ROI amidst the crisis, through its Social Media Marketing and Digital Marketing strategy beyond Coronavirus.
Those who were already in the online business haven’t affected much. But the businesses who were inactive with their digital or social media marketing and unaware of the power of online business, suddenly have realized the significance of the digital presence in the market and understood its high time for them to pay more attention to their digital visibility.
This sudden change in lifestyles due to social distancing, working from home and closed schools has disrupted our daily routine; but surely has given us time to be with our family and also taught us to live life in a new way enjoying the real meaning of minimalism.
Don’t you think so? Leave us your comment below.
