We can't be certain, but we can try to deduce possible russia number in the world of digital marketing. Will the number of people using the internet increase? Will advertising become more expensive? Will my product be impacted?
To help answer these questions, let's first highlight some consequences of the virus and the economic crisis:
Companies take products to the internet
Companies take products to the internet
The first major impact on people's habits to contain the virus was the quarantine. Games, events, commerce, classes, etc. All companies that have value propositions related to face-to-face contact were affected. In an attempt to survive, they looked for alternatives for their products. Many of them had to take part or all of their value proposition to the digital world. One example is schools that had to accelerate projects to digitize classes, even if temporarily. Another area that was already growing but has been accelerated even more is delivery via apps.
Even though in-person learning still has several advantages, the fact is that digital learning still has a lot of room to grow and this event tends to accelerate this process even more.
Financial adjustments for individuals and legal entities
The impact on health caused by the virus has had equally serious, if not more serious, consequences on the economy. It is still too early to assess the extent of the impact, but it is known that it will not be small. In the United States, unemployment insurance claims jumped from 282,000 last week to 3.28 million the following week. In Canada, the trend is the same, with the number of layoffs comparable to the levels of the Great Depression of 1929.
When the financial area is affected, there is no other alternative but to reduce costs. Generally, human beings follow an order of preference for products and services related to Maslow's pyramid.
Financial adjustments for individuals and legal entities
If you need to evaluate whether to cut the coach, the weekly football match, the health plan or stop paying for water, you will probably follow a cutting order considering first cutting the coach, then the football match, the health plan and finally the water.