Impact Of COVID 19 On E- Business

 The second and third wave of COVID 19 is devastating billions of lives and livelihood in the world. It shows not only the weakness of government but also their carelessness towards economy. 

Business is an important part of economy so if economy affects it is natural business also affects. It changes the life of billions of people and increases their living standard due to carelessness of government the life of billions of people suffer. 

There are many functions of business. These functions are Production, demand forecasting, supplying pricing, advertising, Warehousing, communicating, trading, Distributing and financing. 

There are two ways business is performed these days. One is traditional way and second is modern way. The process in which some functions of business like selling, trading and distributing are done with the help of internet this process is called E - Business. 

The emergence of E-Business change the selling and buying way of business.The development of Information Technology,smart phone also plays an important rore to it's development.

Phil Branden Berger is the first customer of E-mail Commerce. He purchased Sting's Ten Summoners on 12 Dollar. 

There are many forms of E- Business. These are as belong

1.Business to Consumer. 

2.Business to Business. 

3.Consumer to Business. 

4.Consumer to consumer. 

5.Goverment to Business. 

6.Business to Government. 

7.Consumer to Government. 

8.Consumer to Administration. 

9. Business to Administration. 

There are many company perform E- Business in the world. Some important company are Alibaba, Taobao, e bay, Alipay, Rakuten, Etsy, apple, Fiverr, snapdeal, Amazon, Flipkart, Grofers, ShaoWfax, Ecom Express, Big Basket, Jiomart, Jabong, Cartcafe, Paytm and Myntra. All company face financial loss due to  COVID 19 pandemic. 

The first wave of COVID 19 puts little impact on E - Business company. Most company face it easily and earn more profit but the second and third wave puts maximum impact and they are facing maximum problem. 

According to the research of Unicommerce there is more than 10 percent demand decrease in April 2021 compare to March 2021.

The demand decrease in Fashion and accessories is 22 percent billion of people suffered directly or indirectly from COVID 19. They expand money in Medicine, test X-ray, CT scan etc so people have no money to  purchase such type of things. 

The demand decrease in Eyewear and accessories is 18 percent. There are national lockdown in many countries so people lost their job. People are busy to arrange their basic need like Food, cloth and medicine so they have no money to purchase all these things. 

Company also face maximum human resource problem. There are many employees work in delivery department. They travel and supply the product to customer. In this process they come in the contact of COVID 19 suffered people so they also become COVID 19 positive. Company provide them medicine, medical support, oxygen Concentrators ,Food facality, ration, taste facality, COVID insurance, leave encashment bonus and paid leave etc so the expenditure of Company increase and their profit decrease. 

Due to lockdown there are many thousands employees return to their home so Company do not supply product at right time. Customer do not understand this problem and they feel dissatisfied with the Company. 

According to Global Payment Report by Worldpay FIS the growth of E-Commerce is more than 50 percent in 2021 in the world but due to pandemic it is not possible because market has less demand. Many company suspend their production due to less demand so the cost of product increase. Due to increase the cost customer are not interested to purchase product. China is the largest E- Commerce market in the world. It's market capital is 700 billion Dollar. China also have been suffering from COVID 19 so the company that also work in China face problem. 

It is possible that large players of E-Commerce field like Flipkart, Amazon, Bigbasket and Grofers feel lesss problem but other company face maximum problem. 

So according to my opinion government should make global policy, rules, regulations, law and creat a strong investment climate so every E Commerce company recovers from the impact of COVID 19 and perform its best function for the development of country.