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By Angela Gala Gonzalez

The COVID-19 economic shift

I believe the COVID pandemic is already one of those events that marked a before and after universal history. As was the French Revolution in its time, or the fall of the Berlin Wall in the last decade of the 20th century, so is the impact of COVID-19 on current economic trends.

COVID-19 made the difference in a world where commercial relations still had characteristics similar to their beginnings, where the exchange of goods closed with a handshake. We were all forced to learn a new form of relationship, which was possible because communications technology has reached a vertiginous development until today.

The world expected that the balance of trade relations moved to the virtual environment, only much more later. Well, COVID-19 sped up the process, and now people are getting used to the virtual environment. Many detractors became adept, and those who had not explored this world were forced to do so and found it very satisfying.

Some trends are outlined in the world e-commerce report as follows:

  • First, the COVID-19 pandemic substantially altered trade patterns, at least in the short term.
  • It has reduced the volume and changed the international trade balance, disrupting traditional supply chains and putting additional pressure on transport, logistics, and border controls.
  • It has encouraged online shopping and services in domestic markets where motion controls and consumer anxiety have discouraged physical transactions.

An impact seen as a result of the general reduction in the economic activity that is important both during the pandemic and for the subsequent recovery has been the adoption of e-commerce due to the need for a lot of training to move online (COVID-19 eCommerce: A Global Review).

However, there are still many challenges to face.

The increasing prevalence of digitization makes it increasingly difficult to distinguish this digital economy from economic activity in general, and therefore difficult to quantify. Just imagine, the proportion of people worldwide who interact with the Internet is estimated to have increased from 29.3% in 2010 to 53.6% in 2019. Internet Protocol (IP) traffic, a proxy for data flows, grew from about 100 gigabytes per second in 2002 to nearly 88,000 gigabytes per second in early 2020. as the pandemic spread throughout the year, with increased traffic generated by teleworking, videoconferencing and digital services, entertainment, and other applications, this figure is now estimated to exceed 100,000 gigabytes per second.

The COVID-19 pandemic substantially altered trade patterns, at least in the short term.

It has reduced the volume and changed the international trade balance, disrupting traditional supply chains and putting additional pressure on transport, logistics, and border controls.

It has encouraged online shopping and services in domestic markets where motion controls and consumer anxiety have discouraged physical transactions.

The COVID-19 pandemic has reinforced the importance of addressing barriers to e-commerce to reap the benefits that can be derived from it and address the potential downsides of digital transformation.

While there has been a substantial reduction in overall economic activity during the pandemic, the market share of commerce and retail e-commerce has increased, especially in domestic markets. Additionally, movement restrictions and consumer anxiety about social interaction have encouraged the use of online shopping.

In addition to goods, there have been substantial increases in online conferences, games, and entertainment. In short, more people have used e-commerce more often. Businesses with an established online presence are better equipped to take advantage of this, along with traditional businesses that have been agile enough and had enough resources to update their online sales and marketing.  Also, communication networks have continued to operate during the pandemic.

Many consumers expect to continue spending more online after the crisis than before.

The experience of online entertainment services (and the fact that more people have crossed the barriers to entry) is likely to sustain higher usage levels as far as they are concerned. Additionally, many employers are considering combining office work and work from home. As a result, e-commerce platforms are expected to retain many, though perhaps not all, of the market share gains they have made during the pandemic compared to offline markets.

The level of participation in digital technology and the Internet is a powerful indicator of the ability of an economy to take advantage of electronic commerce. The power of companies to participate in international markets increasingly depends on the quality of digital connectivity at their disposal. For citizens to buy online or use online business services, this ability depends on:

  • the availability of reliable services (and preferably broadband)
  • communication networks,
  • the affordability of suitable hardware and data packages,
  • the existence of relevant online platforms and services,
  • the presence of attractive digital payment mechanisms,
  • people’s capabilities, and
  • digital literacy.

In this article, I bring upon my own experience about one of the best opportunities to overcome barriers and build trust in online businesses, mainly because Wealthy affiliates’ available resources provide knowledge and open the doors to the creation and growth of electronic commerce.

Let’s talk about the wealthy affiliates’ platform.

When I think back to when I came to Wealthy Affiliates in the middle of lockdown due to COVID-19, even with the common mistrust of the unknown and fear of encountering another spam, I can only show gratitude because of how many things I’ve achieved ever since. But, I wonder how many are there who still navigate without finding the door?

I entered and found one of the best platforms that offer digital literacy and creative skills for online resources while providing you an opportunity to generate income even without a commercial line. It is the best space to start your journey in the world of digital creation with a view to electronic commerce.

 

The level of participation in digital technology and the Internet is a powerful indicator of the ability of an economy to take advantage of electronic commerce.

Have you thought about how you can be part of this revolution in digital commerce? Take the time to explore what Wealthy Affiliates has for you. Do not you guide by what I say, but rather try for yourself what you can find on this platform with zero risks and zero obligation with a free starter membership.

Why choose Wealthy Affiliates?

  • You get direction on transforming your ideas into profits by starting a business from 1+ Million lucrative niches.
  • Build beautiful, profit-ready websites, and believe me, you need no design skills.
  • You will be equipped with proven strategies to attract loads of traffic.
  • You get unlimited revenue sources (598 500 000 products you can instantly sell)
  • Wealthy Affiliates has been ranked as the “to Go” platform for internet entrepreneurs.

Once more, the changes in shopping, entertainment, workplace behavior, and associated adaptations in business practice have accelerated ongoing transitions from physical to online markets that are likely to have a lasting impact, mainly if recovery from the pandemic is spasmodic or prolonged. Thus, it would be best to prepare for the new era; Wealthy Affiliates is the right place to start.

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8 Comments

  1. Hello Angela, indeed this Covid19 pandemic will be remembered for many, many years to come, certainly a page in modern history. And like you, I have looked for some online solutions and I found some paths that really “smell not very well”, till I get to WA and here I am, a 3 months member, following the training and working daily towards the objectives previously defined. Thanks for sharing such an enlightening article.

    1. Hey, Antonio! Thank you for reading my article. I am delighted you found it enlightening. I hope you keep coming back. 

  2. I’ve actually enjoyed seeing the changes that Covid has elicited with the shift to working from home and more shopping online. Until now many people have stayed away from the internet fearful of scams and their own personal lack of knowledge. I do think it has been a beneficial shift of trend that will enhance life for many people and of course open up the opportunity for anyone to have a business at a low cost and learn on the job.

    Your choice of Wealthy Affiliate seems to have been excellent with the training they offer and support through the community. Definitely worth checking out if you have an entrepreneurial spirit.

    1. Hey, Lily, 

      I join you in enjoying some of the changes we have experienced since COVID-19 came into our lives. Significantly, the shift towards the use of virtual platforms and working from home. I think women have a broad consensus in these areas because of the unique opportunity they offer; Being close to family, even when you are working, is invaluable. I appreciate very much that you stopped by to read my article and I am delighted that you liked it.
      Yes, I greatly appreciate what I learned on this platform and the literacy level achieved in virtual commerce. I owe a great deal to Wealthy Affiliate.

  3. Hi, I’ve just gone through your amazing article on taking advantage of the current economic trend. This topic is one of the best I’ve ever read. I agree that the pandemic has caused so much change in the economic world,. but thanks to improved technology because some of the economic transactions were still going on even in hard times. Thanks for sharing this informative piece of writing with us. I will be sharing it further too.

    1. Hello Kokontola, 

      I am delighted that you liked my article to the point of qualifying it as one of the best you have read. I appreciate your compliment and sharing it with as many people as possible to raise awareness about the need to connect with current e-commerce trends. Everyone understands the need to train about e-commerce because, in the end, we are users on one or the other side of the chain. Unfortunately, people do not always find timely information about the available resources best suited to the demand. WA-platform is a resource that everyone should know about and explore.

  4. The effect of Covid on the economy is high substantial and noticed by all. It has not just how we do business but has changed how we live our lifes generally. Even after covid we will obvious continue to keep social distance and also sa itise our hands intermittently. It is obviously a save way to live and we will follow 

    1. Hi, Parameter! 

      Yes, the changes COVID-19 brought into our lives are at the stature of events that marked the world transition to a new era. With this, I think all fronts of life on this earth have been affected. In this article, I referred to a very particular one, trade. Today, we must learn about e-commerce and acquire a knowledge base and skills to navigate this environment. I believe that Wealthy Affiliates is an accessible and universal resource.
      Thank you very much for your comment and for stopping to take a look at my website. Hope to see you here often.

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