EFFECTS OF COVID-19 ON WATCH INDUSTRIESecasiocentre
As we all know that the world is under grave danger and going through crucial crisis because of this epidemic coronavirus. It seems that it has externally as well as internally dodged the economical systems. All kinds of businesses are facing loss due to which unemployment is increasing. Nobody knows that what the exit scenario from the lockdown will be and how deep and long crisis will last.
There is no doubt that the outbreak of the COVID-19 pandemic will take a heavy toll on the watch industry. Watch companies are facing a collapse in sales. This pandemic is causing difficulties for the watch brands. It is halting in store retail sales because the worlds shopping system is shut down. Retailers have been forced to close the shop in order to protect both their staff as well as clients. Many of the businesses are facing harder time reaching their consumer.
In this tough time no doubt every kind of business is facing difficulties as they cannot make much sales in this lockdown situation. Many companies and brands have started their online services keeping in view the loss that they are facing but still they cannot meet the requirements because amid these crisis people are facing financial problems.
In this situation people prefer to buy the basic necessities to fulfill their needs nobody is searching for luxurious items likes watches. During Eid holidays, people were seen buying food and clothes nobody was interested in buying luxury items like watches. It is obvious that in this kind of alarming situation people would prefer buying food items and off course medicines. During this whole scenario, people were scene violating the guidelines provided by the government.