This COVID19 has affected a lot of industries throughout the globe. It has hugely affected all the small, medium, and large scales businesses causing great losses to everyone whether he is a business person, self-employed, or is an employee.
Everyone is affected by it in one or another way. Due to this, we have seen a huge downfall in the GDPs of the countries whether its US, UK, Germany, Canada, or India, everyone has been badly affected by this pandemic.
Millions of people have lost their jobe due to this pandemic and still, this COVID19 pandemic is not slowing down as is badly affecting the countries.
Due to this many big companies have shut down their business in many countries like recently Harley Davidson shut down its factories in India due to lesser sales and big losses which the companies cant bear.
But it has benefitted the online e-commerce benefited as due to this pandemic people have forced themselves to go online for anything they want.
Whether they want to order food, groceries, clothing, personal hygiene, and many more things, everything is available online and this pandemic has forced the people to become smart and order everything online making companies like Amazon, Flipkart, Uber Eats, Grofers, Big Basket getting more orders and making more profits.
These online e-commerce companies have been highly benefitted by this pandemic as the government of all the countries were promoting them for the safety of its countries’ citizens.
Like this, a multi-national clothing brand, H&M has recently announced that it will be shutting down its 250 stores throughout the globe. This H&M brand has more than 5000 stores throughout the globe and is a highly recognized brand but this pandemic has forced this company to shut down its stores.
This step has been taken because of the COVID19 pandemic as it has badly affected the offline stores and has generated more sales for the online stores.
So after closing their 250 stores worldwide, H&M will now be focusing more on its online store as this pandemic has forced the people to shift online which will be really beneficial for these companies to promote their online stores if they have to survive in this race.
But with this, a lot of people will be lost their jobs when these online stores will be shut down again increasing the unemployment rate throughout the globe.
These were some of the details we have got to know which were revealed by H&M and if some more details are revealed then we will update that on this site.