As the economies open-up in a measured and sequential manner, businesses are keeping an eye not only on the red, orange, and green zones across the country but also the traffic lights on their own businesses. The COVID-19 pandemic has challenged businesses to think in unique and different ways. The disruptions caused by the virus outbreak have left deep impacts on consumer behavior and preferences. Customers are now increasingly exercising caution on what, where, and how they buy. As demand surges for essential products, companies across the globe have been scrambling to streamline their supply chains to secure immediate operations. At the same time, there is pent-up demand waiting to be released for semi-essential and regular consumption categories that do not qualify for the ‘essential’ tag.
The coronavirus pandemic is causing whiplash within many supply chains, especially those of e-commerce companies. Dramatic spikes in orders follow reductions in manufacturing and shipping lanes, along with an expected slowdown in orders as products go out of stock and marketplaces prioritize the goods, they deem essential. Coming out of the existing lockdown measures, businesses will need to make the most of situation and emerging trends in shifting public consumption patterns.