What Coronavirus Has Taught Us About The Future Of Business
If we didn't know it already, Coronavirus has taught entrepreneurs and business owners two valuable lessons. The future is online. And the future is now."From making sales of £650 million each month, since the last of our stores closed on 22nd of March, we have sold nothing."
That’s how George Weston, CEO of Associated British Foods, described the impact of Coronavirus on one of its leading retail businesses, Primark.
£650 million a month in sales to zero sales overnight. Ouch.
If there's one thing Coronavirus has taught us about the future of business, it will be that an online presence is absolutely key to success today.
And not just any online presence.
Primark has a website, of course it does, just not one that takes orders. That said, I've a pretty good idea of what will now be top of their to-do list, if it wasn't already a priority.
Compare Primark's fortunes during the Coronavirus outbreak with those of another well-known High Street clothing retailer, Next.
Next was getting more business than it could handle because of its online offering. It was forced to stop taking online orders after being overwhelmed with customers wanting to buy items from its website.
And Next wasn't alone in enjoying a boom from being online during Coronavirus lockdown.
According to the Office of National Statistics, online shopping as a proportion of all retail reached a record high of 30.7% in April 2020.
Dragon’s Den legend, Theo Paphitis, believes the shift to online buying has been accelerated by five years by the impact of Coronavirus. He told the BBC that, “Retail will never, ever be the same again.”
Steve Rowe, boss of Marks & Spencer, agrees. He says that “Whilst some customer habits will return to normal, others have changed forever.”
The future of businesses, large and small, is online. And the future is now.
This was happening anyway. Coronavirus has made businesses who didn't get the memo, sit up and take notice, because it has accelerated the move to online.
The good news is there are endless opportunities to find success online for even the smallest of businesses that get it right.
Part of getting it right is creating a brand, and key to creating a memorable online brand is a great domain name.
A great domain name means a customer is more likely to trust you with their business the first time, and more likely to remember you the second time.
At Brandwise, we have thousands of memorable and brandable domain names for you to choose from. So, whether you are looking to launch a new online business, or want to rebrand an existing one, you’ve come to the right place.
We also make buying a domain name as safe and as easy as possible.
All domain name purchases are backed by third-party escrow, meaning your money is safe until the domain name is transferred to you. And we can accept payment by credit or debit card as well as by bank transfer.
What’s more, we offer a lease-to-buy option, allowing you to spread the cost of purchasing a domain name for up to five years. The name is transferred to you on receipt of the final payment, but you get to use it from day one. This means it will help pay for itself if you put it straight to good use.
A domain name is the starting point for your online success story. We also offer a range of other optional services including website development, website hosting, and online marketing, should you require them. Email us at email@example.com and we'll be happy to discuss your requirements.