Just when airlines thought they had got their act together and would fly higher into profits, the Covid-19 has virtually grounded them all. Domestic flights too, till April 14th. (in India)
So after the lockdowns end, when they do, will normality return to air travel, hospitality, and all the rest? Business travel is likely to pick up first, followed by a cautious uptick in personal travel, and finally, leisure travel or tourism. People are likely to be wary of international travel for a few months at least.
What about retail? A lot of business has actually come to the small kirana stores, as they are within walking distance of most houses, and are an essential service. Maybe bigger stores will take a while in India at least, to get back all their customers. They might have to incentivise customers. We are, in the meantime, re-discovering the virtues of small businesses. Hopefully, mom and pop stores will continue to thrive in India, and not just for groceries- given the employment challenges, they have the potential to keep the families working.
Hygiene-related products may see a sustained interest, because this crisis has taught everyone the importance of washing hands and disinfecting surfaces that you can.
A simpler lifestyle might result for a while, having got used to the necessities and being able to live without a lot of discretionary spends. Marketers of many discretionary goods will have to work harder to attract customers.
Getting the lost mojo back into many economic sectors will take quite a while. Hope it happens within a year or two. If not, education may also suffer-higher education, more so. Hopefully, allocations to the health sector will go up across countries.
So after the lockdowns end, when they do, will normality return to air travel, hospitality, and all the rest? Business travel is likely to pick up first, followed by a cautious uptick in personal travel, and finally, leisure travel or tourism. People are likely to be wary of international travel for a few months at least.
What about retail? A lot of business has actually come to the small kirana stores, as they are within walking distance of most houses, and are an essential service. Maybe bigger stores will take a while in India at least, to get back all their customers. They might have to incentivise customers. We are, in the meantime, re-discovering the virtues of small businesses. Hopefully, mom and pop stores will continue to thrive in India, and not just for groceries- given the employment challenges, they have the potential to keep the families working.
Hygiene-related products may see a sustained interest, because this crisis has taught everyone the importance of washing hands and disinfecting surfaces that you can.
A simpler lifestyle might result for a while, having got used to the necessities and being able to live without a lot of discretionary spends. Marketers of many discretionary goods will have to work harder to attract customers.
Getting the lost mojo back into many economic sectors will take quite a while. Hope it happens within a year or two. If not, education may also suffer-higher education, more so. Hopefully, allocations to the health sector will go up across countries.
