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Digital Economy Company and Effects of COVID-19

The spread of the deadly COVID-19 globally has required many companies, including digital economy company to urgently come up with measures to affect the coronavirus spread, albeit these are likely to contribute to the business slowdown. The digital economy company home rental business Airbnb announced its plans to offer full refunds to people that booked accommodation during a particular period, adding that hosts can cancel for free of charge or impact to their “super host” status.

This is in line with its extenuating circumstances policy in response to coronavirus spread. In an email to their online customers, Takealot notes it’s implementing precautionary measures to mitigate the danger of coronavirus transmission. These include enhanced hygiene practices, contactless delivery and collection, no signature required, social distancing, and merchandise pricing and availability.

Takealot’s online fashion and wonder business, Superbalist, has also informed customers of the measures it’s taken to limit the spread and effects of the virus. Sweep South and Bolt have also provided updates on the steps taken to make sure safety. Despite this, all companies need to reconcile with the economic bloodbath the spread of coronavirus will wear their bottom line.

The Disaster ahead for the Digital Economy Company

Digital Economy Company

The head of World Wide Worx, Arthur Goldstuck there’s likely getting to be a collapse, within the short-term, of all services that need a movement of huge numbers of individuals.

“As public entertainment grinds to a halt and remote working becomes the norm, for now, the demand for these services will plummet, if not vanish,” Goldstuck states. “From guest houses to restaurants to small business outlets that believe walk-in clientele, we are actually facing disaster for micro, small and medium business.

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“The hospitality sector will about pack up and retailers will need to move rapidly to the digital economy company platforms. However, many consumers don’t have access to the web, and can still be got to attend stores to urge essentials. Social distancing means people will want to avoid hospitality services and can want to be on the brink of family. Airbnb is going to be particularly hard-hit.”

The Mergence Investment Managers investment analyst Lulama Qongqo agrees, saying owners of Airbnbs and Uber vehicles are getting to have a difficult time thanks to a big decline in tourism and increased social distancing. Within that group, there’s a more vulnerable group, adds Qongqo: “Those that have mortgages or car loans that also need to be paid despite their assets not attracting an income.

“I think getting to “> we’ll need to wait and see whether the banks are going to look to compromise with asset owners because the probability of default has increased for people who use their properties for income-generation. I feel Uber drivers are likely to undertake and switch to delivery services to undertake and structure for the lost passenger revenue, although deliveries might not fully offset the losses.”

Major Disruption within the Digital Economy Company

The spread of COVID-19 will force traditional companies to vary their way of business within the long-term, consistent with Jonathan Smit, MD of PayFast. Smit notes implementing eCommerce technology is important during this pandemic, as many of us are logging on for his or her shopping.

“Over the past few years, South Africans have come to believe the convenience of online shopping; and now with the onset of the COVID-19 outbreak, it’s to be expected that the reliance on online shopping is going to be intensified,” he says. “Self-isolation and consumer worry about public places mean local businesses are being forced to seek out quick and innovative ways to adapt to the present crisis.”

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For services like Uber and Bolt, Goldstuck says they’re going to need to ensure drivers are furnished with hand-sanitisers and cleaning material. Seats will be got to be cleaned after every ride, he says. “The services themselves got to engage during a highly-active educational campaign to make sure both drivers and passengers adopt new protocols for ride-sharing. I even have yet to ascertain any such measures, beyond Uber, Eats indicating new pick-up and delivery protocols.

“Woolworths has set the instance with non-contact delivery protocols highlighted together opens their app. Uber has made no such efforts, beyond offering free delivery. we will expect a rapid wake-up from them, however, as their traffic disintegrates.”

Goldstuck says a very startling example of this lack of urgency is often seen in Uber’s Gauteng app. “For an organisation that has an executive tested positive for the virus, one would expect aggressive educational steps taken via its app. Instead, not even a notification − coronavirus crickets.”

“With more people performing from range in the services industry, we will expect that securing company data are going to be more challenging; therefore I feel it is sensible for companies to specialise in tightening cybersecurity measures. The beneficiaries of the shift to performing from home are going to be remote working services like Zoom,” she concludes.

Culled from ITWeb | Digital economy companies take a punch as COVID-19 spreads

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