Mass Impact on Economy from Restaurants to Retailers due to Covid-19
coronoa impact on world

If we summarize 2020 then… The economy has made more than 22 million jobs vanished in no time. The global pandemic started as just a small thing but has evolved into a whole new dangerous thing. Companies are forced to shut down whereas most of the industries are working in the loss. Retailers, Restaurants, Gyms, Hotels, Tourism… you name them and all had a severe impact due to Covid.

The physical job was almost impossible as there are lockdowns across the globe. Companies have offered their employees work from home facilities. For many companies, this turned out to be a wonderful and productive experiment. Some companies could pull it off even when the employees were working from home. Along with this, the expenses are less as the employees don’t come to the office.

The retail sector is also hit by Covid.  Many retailers small or big had to close down. But those who went Online did fairly good business also in covid times.

Businesses are writing new plans and approaching a new way to restart the business. The vaccine news was a heavy relief for many business owners whose business was almost on the edge of the cliff. There is not a single industry that is not affected by this (some positive, most negatively).

Read More on this segment from the article:  https://www.livemint.com/news/world/from-restaurants-to-retailers-coronavirus-transformed-economies-11608141685056.html

 

Note: Above is an extraction from Article on Livemint.com


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