How businesses are adapting to covid-19

How brands have been making subtle changes to their marketing strategies
to remain in the game and take the lead when the outbreak comes to a halt.

WHO declared an outbreak of febrile respiratory illness of unknown etiology in December 2019 from Wuhan, Hubei province of China. Since its emergence, the disease has rapidly spread to provinces of China as well as 151 other countries, mainly through international travel. 

The outbreak sourced in a "wet market" of Wuhan in December 2019. It is believed to have infected around 121,000+ people at the moment and is spreading fast.

Tech Giants have lost more than 400 Billion Dollars in value. Apple and Microsoft alone contribute to a loss of more than a billion dollars, making investors worry about the spread of the virus and its potential impact on the economy. Sequoia capital published an article terming the pandemic as the black swan of 2020.

Businesses around the globe are still adapting to the emerging situation. The work from home culture is on the rise as non-essential travel comes to a stop. Major conferences were canceled or moved to an online format like Google's I/O, Apple's WWDC, Facebook's F8, Mobile World Congress, and many more.

In this time of crisis, it is equally essential to maintain our sanity and not to panic.

The consumers, in the new world of social distancing, have turned to the internet-enabled businesses. There has been a surge in on-demand food, grocery, and local delivery services.

Companies have started to cope with this phase by adapting to the change in lifestyle by modifying their regular services. Food and local delivery services have introduced 'contactless' delivery to make sure their customers can continue using their services without endangering their health.

Logistics driven businesses viz food, local delivery are helping their personnel by allowing paid sick leave and work from home.

Major companies are using this period to give-back to society. Facebook announced a $100 million assistance program for small businesses that have been financially hit due to COVID-19. Similarly, Amazon, Nike and JP Morgan are also providing enormous funds for support organizations and supplies. Utility service providers such as PG&E, Verizon and Comcast are doing their part by waiving late billing fees and are not disconnecting services to those unable to pay.

How has SARS-CoV2 impacted Marax AI?

Our primary focus was on Transportation and Mobility segment, but because of the ongoing pandemic, activity of that segment has dipped. Hence we have shifted our focus on Food delivery, Grocery, Health & Wellness and online shopping brands.

Due to the reduced sales pressure, we’re also accelerating our product roadmap based on the immediate market needs.

Amidst all this crisis, our team has adopted remote work and we’ve also written a blog on our shift in work culture here.

We’re also launching a Webinar series on ‘how to incentivize your customers during the covid-19 lockdown’ around the globe.

To sum up, brands have been making subtle changes to their marketing strategies to remain in the game and take the lead when the outbreak comes to a halt. Other organizations are focusing on how to make the best out of this scenario to boost their product. All these companies are adapting to the emerging situation very quickly.

Amidst all this chaos, we are grateful for our health care professionals, police, and personnel who keep the essential services running. At the same time, we stay indoors at the safety of our homes.

Our advice to you: Stay safe, stay indoors and wash your hands often!