…let alone when world events throw us curve balls like flesh-eating zombies, alien invasions or a mysterious pandemic. Yes, the coronavirus (COVID-19) won’t last forever, but it’s already swinging the stock market around like a yo-yo and canceling major events and travel across the globe.
According to Dr. Drew via CBS , the panic is not warranted, but is doing real damage to businesses worldwide: “Everything that’s going on with New York cleaning the subways and everyone using Clorox wipes and getting your flu shot, which should be the other message, that’s good. That’s a good thing, so I have no problem with the behaviors. What I have a problem with is the panic and the fact that businesses are getting destroyed, that people’s lives are being upended, not by the virus, but by the panic. The panic must stop. And the press, they really somehow need to be held accountable because they are hurting people.”
In fact, According to SmallBizTrends (citing a survey from Veem), “27% of businesses expect the coronavirus to have a moderate to high impact on their revenue. Another 30% expect the virus to have a moderate to high impact on their supply chain. Even more revealing, 52% say they are taking measures to prepare for an economic slowdown. They are increasing pricing, changing suppliers, decreasing operational costs or protecting cash flow.”
If you happen to be in the hand sanitizer or toilet paper markets, chances are you’ve just secured your retirement. For the rest of small and emerging ecommerce businesses, these are uncertain times laced with the kind of fear & loathing we usually see in the movies. But fear not, this too will pass, and in the meantime, Giant Propeller has your back…