HOW CAN ONE CARRY FORWARD E-COMMERCE DURING THIS COVID-19 PANDEMIC?

The graph of being covid19 affected goes up abruptly. Meanwhile, the novel coronavirus has crippled the world economy. Indian finance has been suffering since the beginning as all other third world countries. RBI also refused to give the projection. Small businesses like street shops have been closed due to worldwide lockdown. Standing in such a miserable condition, e-commerce can be a new hope in economical arena.

WHAT IS E-COMMERCE?

E-commerce is derived from electronic commerce which refers to the purchasing and selling of products or transferring data and money by using the electronic network, primarily the internet. E-commerce markets are growing at noticeable rates. The online market is expected to grow by 56% in the last 5 years.

IMPACT OF COVID19 IN E-COMMERCE SYSTEM

Coronavirus has disrupted the supply chain management system globally. E-commerce services are also facing troubles due to lockdown and they are not able to deliver products. Security issues forced some companies to reduce the number of employees which called for horrible unemployment.

Gyms, shopping malls, cinema halls, restaurants in many cities are shutting until further notice.

As people have maintained social distancing as a way to slow down the rapid spread of coronavirus, there would be an increase in online shopping as they turn to e-commerce to purchase the items.

A survey by Engine found that people are spending on 10-30% more online.

Devanshu Dutta, Chief Executive of Third Eyesight, said, “The lockdown has certainly provided e-commerce a unique environment to expand its footprint, but the first several weeks saw them falter due to lack of product availability as well as breaks in supply chain.”

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Source: Common thread collective

The development comes even as Amazon said last month that they saw the “biggest impact” of the coronavirus outbreak in India amongst the international markets for the world wide lockdown. The volume of online transactions compared to the same period last year increased by 74%.

E-COMMERCE AS A TOOL OF ECONOMIC GROWTH IN COVI19 PANDEMIC

The strong and steady growth of internet users and spreading awareness regarding online shopping, low price due to bulk purchase, and so on. Besides, buying medical products like surgical masks, hand sanitizers are being purchased far faster than before pandemic.

According to data from Nielsen, items like hygienic and medical mask sales are up by more than 30%. Pandemic has also changed the entire scenario in other e-commerce services like grocery and subscription services. Apart from all these essentials, digital streaming like Netflix, Amazon is gaining enormous subscribers in this lockdown.

Moreover, social distancing and lockdown are further expected to make ahead way towards online shopping which contributes to the growth of global e-commerce.

E-COMMERCE IN POST PANDEMIC ERA

While brick and mortar retail is challenged under a new practice consumer behavior, the outbreak is fetching a new mass to e-commerce. It should boost the market across the region for a prolonged period, with strong development through 2025 providing several opportunities for new entrepreneurs and business leaders to launch new products and services.

But nothing is flawless. There are lots of online sites that have originated during this time and people are using as these are fulfilling their needs without a complication. But there is still a question about the authenticity of these sites. The services would be better in the near future if the hazards like app or site crashes can be mitigated.

-SaswatiChattopadhyay

Markets: – A constantly changing Landscape

COVID-19 pandemic is a Humongous problem for companies everywhere, and it’s practically impossible to ignore the issue – it has changed the way business is executed everywhere. Many owners and work managers are failing to shift the regular marketing strategies to a digital marketing (The new normal). They are overlooking the situation because perhaps they have hope that some sudden turn of events towards normalcy will occur in the times of chaos. Whatever may be the cause but this inability to adapt will cause grave concerns to the economic survival of the company. Indian Markets, for the past few years, are constantly in a transition.

“Market is about two things, Marketing and Sales”

Online Shopping has been one of the major causes of loss to many Retailers and even whole-sellers, especially in urban localities. Because online markets are controlled by big multinational companies they marginalize their profit shares to such a low that, shopkeepers fail to catch up with them. So shopkeepers joined hands with them, this move was beneficial for both as the Online platform’s variety received a boost and reach of Shopkeepers increased to farthest corners of India and World.   

Many organizations have shown great adaptability by appointing digital marketing. This pandemic has made it absolutely essential for any trader, businessman, or Shopkeeper to appoint Digital Medium of Marketing and sales.

  • The impact – COVID: 19 on Market

There is no business which lies unaffected by the pandemic. In turn, this unaccustomed reaction has had a detrimental ‘trickle’ effect on larger B2B companies work as providers to these smaller businesses.

Every business, be it your neighbourhood departmental store or an enormous multinational firm, can benefit from digital marketing. Customers still need the products and services as much as ever—what these companies need to do is change the way they reach their target audiences. Even if a small enterprise doesn’t have an online page or portal (one in four do not have), it’s not very late to join in the businesses that are thriving online.

  • Coming to – HOW TO?

It’s time for the affected businesses to make the transition from a fortress store to a digital provider by contacting their customers, reviving unused online assets like websites and social media profiles, and pedalling full speed ahead.

  • Shifting daily operations online

There are very few organizations that cannot make the transition of their daily operations. Credit to video conferencing applications like Zoom, Skype, and many other executives and managers can communicate and impart instructions to staff and hold client meetings from anywhere. 

  • Sales teams can take orders and reservations and provide services to customers via email, chat, or video. They no longer have to commute; they can even start work early leaving customers with longer support hours.
  • Services that were previously delivered in person are surprisingly amenable to video presentations. Clients can pay online and receive a video link to live sessions.

Many businesses are cutting costs on their marketing efforts due to COVID-19, but what they should really be doing is grabbing advantage of the new opportunities that are rising.

This emphasis on digital marketing is not something that they’ll want to slow down on once the lockdown ends. Online shopping is going to stop no-time soon, and most companies will find those web-based interactions to be convenient than in-person meetings.

Stores will reopen but alongside newly adopted ways of selling and engaging with customers.

Talking of Digital Marketing, Digital Services, Digital India, we find one thing common that is Digital. Technologies and Gadgets are sure to expand and improve and in the process, a large number of job and services opportunities will emerge in Technology Development, Gadget Repair, Software development, coding, Data encryption, Data decryption, and Data Handling spheres.

  • Skills

India has the largest workforce worldwide but India stands nowhere in the list of Developed nations. The reason cited for this poor performance is the lack of skill in the workforce. Blaming only the individuals is not right because the Indian education System plays spoilsport due to its monotonous behaviour.

A number of govt. backed Skill Development programs have been launched recently but the major hurdle in the success of these programs is insuring proper implementation.

To grab these upcoming opportunities and chances by both hands we need to be prepared, these opportunities will demand skills like familiarization with Gadgets, computer languages and other technical know how’s? Those, who will fulfil these needs, will surely get an edge.

  • Author’s Take

While digital marketing may be regarded right now as an emergency plan, but by the time this is over, everyone will likely realize that it’s more than a temporary measure rather than a sustainable one. So “GO DIGITAL, BE FUTURE READY” and upstage and up veal everything.

~By Shubham Yadav

TWITTER ACCOUNTS GOT HACKED : BITCOIN SCAM

On Wednesday, 15th July 2020 around 4:00 PM dozens of prominent personalities’ twitter account in America was hacked including – Joseph R. Biden Jr., ex-president Barak Obama ,Kanye West, Bill Gates and Elon Musk 

Not only this but also the same message was posted on twitter “send bitcoin and famous people will send back double your money.” Initially, the hacker attacked the prominent cryptocurrency leaders and many  companies but as soon as list came up the hackers main target were people from Hollywood industries, politics  and other famous personalities.

For prevention, twitter has deleted the bitcoin message from many accounts but after deleting the message is still been posted again and again through this practice hacker and is symbolizing Twitter as powerless and in no control of their app. For a few hours, Twitter has shut down some of their services due to which verified users will not be able to tweet.

Twitter posted a tweet saying “you will unable to tweet or reset the password while we review and address the incident.” They also informed the users that at 8:30 PM they will able to use all the services of Twitter.

Twitter’s spokesman also acknowledged “We’re looking into what other malicious activity they may have conducted or information they have accessed.” Moreover, he also added “we’ve taken significant steps to limit access to internal system and tools while we are investigation is ongoing” 

The chief executive of Twitter – Joe Biden on Wednesday night posted on twitter “tough day for us at Twitter. We all feel terrible this happened. We’re diagnosing and will share everything we can when we have a more complete understanding of exactly what happen.” 

One of the culprit behind this hacking is speculated to be North Korea as they have been shown to possess documents of using Bitcoin in their past history, but according to some this might be acchildish reason for doing so. Also, according to American Intelligence Agency this work is  likely to be of an individual hacker rather than a state. The hacker did not attack on the account of most powerful user ‘President Donald Trump’ and after this incident his account is under special security.

Mr. Stamos said “It could have been much worse. We got lucky that this is what they decide to do with the power” 

According to Mr Stamos, the hacker/hackers have committed some mistake as they sent the same message from every account which makes it easy for them to detect and delete. Also, as they ask money through bitcoin this shows that they are unwilling to use the accounts of prominent personality for the big scam. 

Well, at last, it is very disappointing as Twitter is one of the most used social media platforms and still they do not have proper security which may cause a problem in the future.

                                                      By: Anjali Sharma 

Rising population: The major concern for the nation

 One of the gravest advancement gives most developing nations in the world are confronting is population. According to United Nations populace measurements, the total population rose by 30% somewhere in the range of 1990 and 2010 which is an alarmingly high rate. The unreasonable populace has different unfavorable impacts remembering undue weight for the natural resource. Likewise, the populace is certainly not an all universal challenge. It is explicit to countries whose economies have yet not accomplished maximum capacity and advancement.

     India’s en route to being the world’s most populated nation. This is bad news The rising populace is a worldwide issue today. India is the second-largest nation on the globe after China. Every seven individual on the globe is an Indian. Because of the blast of the populace in India and Gujarat, day by day issues can be seen. In India, the progression of the population rise is by all accounts seen that in the year 1891, the total populace of the nation was 23 crores 60 lakhs; in 1901, it was 23 crore 83 lakhs. Hence the number of inhabitants in the nation expanded by 23 lakhs in 10 years. That is, the yearly rise in the populace was under 2 lakhs. In 1991, India’s populace was 25 million and 20 million. Also, in 10 years the number of inhabitants in the nation was added to 1 corer 37 lake individuals. That is, the yearly development in populace is more than 11 lakhs. In any case, in 1921, the number of inhabitants in the nation diminished by 7 lakes 72 thousand individuals. Subsequently, in 1921 the number of inhabitants in India was moderate and whimsical After 1921 fast and consistent populace development is occurring in India. Consequently, the year 1921 is alluded to as the “great Year of the Year”. In the three decades somewhere in the range of 1921 and 1951, India’s populace has expanded by 2.7 crores and 4.24 corers individually, and the nation’s populace was 25 crores in 1921. It expanded to 36 crores in 1951; the number of inhabitants in India in the 50-year gala followed by 7.81 crores every year, 10.9, 13.3, 15.8 lastly in the 1991-multi decade, more than 18 crores populace was included. Accordingly, after 1921, there is a quick population rise in India. The number of inhabitants in 1901 was 23 crores 83 and it was 63. In the year 1963, it has been multiple times. The number of inhabitants in 43 crores lakhs of 1961, two in 1992, two of every 41 years. In 1951, India’s populace was 36 million, 10 lakhs, in 53 years, in 2004, there were three multiple – 108. This ago, India’s populace took 90 years to multiple times.

The current populace of India is 1,380,456,029 as of Tuesday, July 14, 2020, given Worldometer elaboration of the most recent United Nations information.

India 2020 populace is assessed at 1,380,004,385 individuals at midyear as per UN information.

India populace is proportionate to 17.7% of the complete total populace.

India positions number 2 in the rundown of nations (and conditions) by the populace.

The populace density in India is 464 for every Km2 (1,202 individuals for each mi2).

The all-out land area is 2,973,190 Km2 (1,147,955 sq. miles)

35.0 % of the populace is urban (483,098,640 individuals in 2020)

The median age in India is 28.4 years.

Our population will be at the top in world population graph by 2060

In the mid-2020s; India’s populace is expected to surpass China’. India’s populace will peak at 1.65 billion of every 2060 and start plunging after that as indicated by UN projections, however, a few demographers anticipate that the decrease should start decades sooner. Africa, notwithstanding, will keep on becoming as the century progressed, hitting 3 billion during the 2060s.

Why is it necessary to control our population?

Overpopulation is a trouble that can be fathomed distinctly with an apprehension of the natural resources and its interaction with individuals. The development of a national Indian arranging commission for populace control is seen as fundamental for propelling all individuals to reduce population size.

Without populace control, a blast of the population will occur and as an outcome, access to the fundamental needs of human presence will be significantly harder to get. Monetary development will be influenced if populace development goes unchecked.

Populace rise has two measurements: it is as a chance to accelerate monetary development, yet also, burden if it isn’t overseen appropriately.

 Population growth has two dimensions: it is as an opportunity to accelerate economic growth, but also a burden if it is not managed properly.

In the event, if we care about the ecosystem systems, other life on this planet we would control our populace rise. Our blossoming sapiens populace demands a tremendous measure of land, for the regular asset, for land for agribusiness to take care of ourselves, land for urban areas, this land and land use dislodge wildlife and natural surroundings. loss of habitat IS the main explanation species become wiped out, today!

Measures to control the rising population

The following are the best functional methods which can be utilized to control population rise:

Education

Education structures the foundation of an individual and economy. When instructed individuals know and comprehend the damages which a high population rise rate has. Educating, particularly women education, can do some amazing things in controlling the populace. An informed man and lady can promptly comprehend the advantages of a nuclear family. Without adequate instruction, most estimates like awareness campaigns and women strengthening will end up being deficient and inconsequential.

Delayed Marriages

The issue of child marriage is exceptionally noticeable in specific nations with high populace like India, Pakistan or Bangladesh. A marriage at a young age prompts a long-span for conceiving a child. Likewise, young marriage lack individuals of the education and awareness required to be delicate towards and comprehend the outcomes of bringing up so many children. A UN report has proposed that there would be a critical decrease in total populace if the legitimate for marriage is made 20 years.

Governmental Actions

Not much result can be achieved from these if family planning and use of contraception remain optional instead of mandatory. Strict legal steps are required for child marriage, education, the abolition of child labour and beggary and family planning to reap significant benefits from it. Proper enforcement of laws related to child labour, slavery and beggary will ensure that parents don’t sell their children or send them out to work thus forcing them to raise a lesser number of kids.

Providing Incentives

Incentives have to be a productive strategy measure in battling most rising issues including population. Giving health facilities, guidance or even monetary incentives can be exceptionally compelling to control the population. There are some motivation approaches like paying a certain sum of cash to individuals with not multiple children or free or limited instruction for the single kid and so forth which are set up in most developing nations confronting populace related difficulties and has likewise ended up being a valuable measure.

.Medical provisions

One major downside of developing nations is that of constrained and exceptionally driven medical services. Given the high country urban separation in creating nations, accessibility of good medical clinics and specialists is constrained to urban focuses accordingly bringing about high infant death rate in provincial territories. Rural individuals, to guarantee that probably a portion of their children endure, bring forth an ever-increasing number of children subsequently adding to the populace growth. if provided with ideal medical services, population rate will more likely to get decrease.

Spread Awareness

Individuals should be advised and made to comprehend the outcomes of having an excessive number of children. Government and non-government establishments can convey awareness advising individuals how they will be not able to give great sustenance, instruction or medical facilities to their kids on the off chance that they have too much. The populace is likewise an explanation behind ignorance and maladies and lack of healthy sustenance and its negative impacts are required to be imparted to the overall population to extend their thinking and comprehension.

Women Empowerment

In most developing nations, women are not viewed as comparable to men regarding power. Such conclusions are extremely common in Islamic nations and even India and Bangladesh. Gender discrimination is a significant explanation of populace development. Individuals continue bringing forth kids to have a larger number of a male child than females. Enabling lady with a state in issues concerning them like labour and instructing them to fight against discrimination will guarantee a healthy and mindful society.

Eradicate Poverty

Why most underdeveloped nations have the most elevated population growth rather than rich ones. poverty has a straight connection to populace rise. In developing nations of Asia and Africa, kid work, slave exchanging and human dealing are profoundly common. African nations for instance despite everything have the most extreme revealing of slave exchanging however exchanging of people is lawfully prohibited wherever on the globe. Individuals bring forth children and offer them to rich individuals who thus utilize these children in different arduous and unethical tasks. If not sell, these guardians power their children to ask or work at a delicate to procure some extra money for the family. These individuals accept that more children mean more hands for asking and work and in this manner more money. Without solid measures for development and destitution destruction, different techniques for populace control may end up being ineffectual.

Easy and Cheap availability of Contraceptives

Guaranteeing that individuals have simple and modest access to contraception devices will help to stay away from instances of undesirable pregnancies and births. Each state-owned hospitals ought to be made to give economically proficient anti-conception medication meds or medical procedures since poor have neither the methods, not attention to utilize contraception. Utilization of condoms and contraceptives must be publicized and advanced alongside guaranteeing modest and prepared access to these. Contraceptives don’t just end up being a significant populace control measure yet, also, forestalls spreading of sexually transmitted infections like AIDS in this way guaranteeing nuclear healthy families.

Development

Why the enormous population and the expanding pace of it is the greatest concern looked by the developing countries of Africa and Asia while the equivalent is an almost no danger in nations like America, Europe or Japan. Absence of Development suggests high destitution, high illiteracy, high discrimination, absence of consciousness, absence of medical services and hence expanded populace development. Any economy is named created is its populace is non-discriminated and just. By diminishing separation among sexual orientation and class and guaranteeing improvement of the entire populace rather than a given portion of society would wipe out the challenge of populace rise for once.

Successful initiation of Make in India Initiative

For any Nation to reach its maximum potential by virtue of Economy, self-sufficiency is the key. The Indian subcontinent is full of resources of every kind natural, Human or technological. The only barrier in Indian development is the lack of competency in the industrial sphere; we do not process what we produce. This statement could further be understood by knowing that Indian imports in 2019 accounted for about 514 billion dollars whereas the export stood at 330.07 billion dollars resulting in a trade deficit of 180 billion dollars, which in general terms means we gave away about 180 billion dollars to other nations. If this is not enough a report in 2016 estimated Indian Trade Deficit to grow to about 500(Billion dollars) by 2030.

In the wake of this, Prime Minister Narendra Modi led the Indian Government to launch a full-fledged program for Industries to grow in India namely Make in India. In accordance with this initiative, the Indian Government projected Indian GDP to shoot up to 25% for which a variety of steps were taken which had wide implications on businesses.

  • Improvement In Infrastructure

 To improve Indian manufacturing sector infrastructure and capacity are boosted: Development of smart cities and industrial nests in areas of High potential with supplies of Raw material and Workforce along with high transportability 

  •  There is a bid to develop new smart cities and industrial clusters – the Delhi-Mumbai Industrial corridor is projected to make 5 smart cities: Greater Noida, Ujjain, Gurugram, Dholera, and Shendra-Bidkin,
  • Northeast India is work in progress to be connected with other Industrial corridors 
  • Re-cycling and treatment of water through zero liquid discharging systems.
  • Construction of central effluent treatment plants.
  • Provisional Changes during the Union Budget 2016-17
  • To promote start-ups there is a proposal of 100% deduction of profits for 3 to 5 years for start-ups set up from April 2016 to March 2019 with a minimum alternate tax in place.
  •  Granting “Residency Status” to nations and the proposal to grant International investors on satisfying certain conditions.
  •  Custom and Excise Duties are changed to bring costs down and enhance the competitiveness of the domestic sphere in sectors like IT hardware, defense production, mineral fuels, and mineral oils, chemicals and petrochemicals as well as in Maintenance Repair of aircraft and ship repair.
  • Positives to draw upon

After putting in so much of efforts by the Indian Government, many positives are emerging

  • Samsung has put up a manufacturing plant of Mobiles in India which is set to induce self-sufficiency and its production is estimated to be so high that it will also export and hence building a great foundation for further growth.
  • Apple inc. is set to move its production from China to India for which all the groundwork has been done. This move is also in terms of American policy to go on poles with china.
  • Google announced recently to invest 75,000 Crore in India via Equity Investment, partnership, and operational investment.

Author’s Take 

India is receiving numerous opportunities as their work in laying a foundation to establish India as a Manufacturing Hub is bearing fruits, India should capitalize upon these chances. If the pace is kept, India will certainly grow to tremendous highs because of its vast potential and dedicated efforts.

 ~By Shubham Yadav