The Impact of Covid-19 in different sectors of Industry
The Impact of Covid-19 in different sectors of Industry
Devleena Neogi Saurabh Jain, an alumnus of IIM Indore, is the Head of the Marketing Department at India’s leading FMCG Company Britannia.
Mr. Bajaj has vast experience working for major FMCG firms including Britannia Industries, Mondelez (Cadbury), and Wipro Consumer Care for more than 16 years. He has been named one of White Page International’s 50 Best Marketing & Communication professionals. It’s impossible to overlook such pioneering marketer achievements when it comes to knowing how to deal with marketing after the pandemic.
Covid Impact On Industrial Sector
There had been a degrowth in GDP in the month of April and it was of 24% which is huge
Every industrial activity around the world has been abruptly halted by COVID-19. Mr. Bajaj expresses the same when talking about the impact of the COVID outbreak. He claims that the outbreak partially cushioned the FMCG industry as a whole. Then, due to the erratic supply of daily food, overstocking became common in the country. Lastly, services like Swiggy and Zomato that deliver food online suffered.
Three Tips For Marketers
It is really important for a marketeer to understand how people are feeling and how they are doing
Mr. Saurabh Bajaj claims that communication was crucial throughout the entire period of covid. Innovation also played a significant role in helping businesses deal with the COVID outbreak in a digital manner. According to Mr. Bajaj, the third factor was the activation of ideas that enabled businesses to continue operating and handling success even at a hard time.
Significance Of Following Trends
Being agile and being on your toe and looking at the trends is something at which marketers should always keep an eye.
Brand messaging is one of the key marketing factors. The crisis created numerous guerrilla marketing and spur-of-the-moment marketing opportunities. Since everyone in the COVID era was dealing with the same challenges, it was crucial to look at the brand text that could actually capture the customer’s attention.
Major Sectors Affected By The Outbreak
A lot of people believe that this is a time of volatility, uncertainty, complexity, and ambiguity but what we reflected on is that you can still redefine the same by vision, compassion, understanding, and agility.
Mr. Saurabh Bajaj lists the five industries that suffered the most from the COVID outbreak: tourism, alcohol, fitness, the shadi market, and the retail sector. Although he points out that the majority of businesses have developed digital solutions to deal with the predicament, such as online retail, digital fitness apps, etc.
Conclusion
No matter which industry we look at, each of them suffered significantly due to the COVID outbreak. But, as our expert Mr. Saurabh Jain discusses, businesses have used various techniques to deal with the issues, fight back, and get over the pandemic.
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COVID-19 is still there in the background and that’s why how businesses deal with it becomes important. We all have some basic information about this issue but listening to an expert talk about it in detail provides us with a better understanding of the situation. Icons behind brands have more such videos that you can watch on our website. Subscribe to our YouTube channel and stay updated.
