The effect of the Coronavirus is visible on every corner. First of all, the habits of people have changed completely. We are now more careful when we go to the store, pharmacy, etc. Despite that, it seems that we will have to get used to wearing masks and gloves when we visit these places. No one exactly knows when the pandemic will end. Some people predict the virus will disappear when the summer comes while others do not believe in that theory.

Anyway, staying at home is the smartest thing we should do now. Indeed, we are all human beings and we can’t stand to stay at home for a long time. Yet, we have to accept that this is the only way to defeat the invisible enemy. Don’t worry, you are not alone. The entire planet earth has the same problem.

However, how are our lives going to look when everything ends? Experts from different fields agree that life won’t be the same as before. First of all, the Coronavirus crisis harmed the economies of all the countries in the world.

For example, tourism and other related industries suffered the most. The borders of all the countries in Europe and Asia are closed. However, when people get the opportunity to travel, will they truly do that? Will they be ready to risk to get infected?

1. Influence of Coronavirus on Cryptocurrencies

Logically, the effect of the disaster is visible in the cryptocurrency industry as well. However, this time we learned one big lesson. This industry is relatively young and you can hear different opinions about it. Some people believe the cryptocurrency is the future. On the contrary, a certain group of people believes that cryptocurrency is another scam.

Neither of the industries in the world is 100% sure. Unfortunately, we got the proves of that in an awful way. For instance, Spain and Italy are countries where millions of tourists come every year. People that were participating in this industry were satisfied with the results that they were achieving. Yet, everything has changed in only three months.

The history of the different digital currencies was turbulent. All of them had their ups and downs. However, the business world is full of uncertainty. Because of that, this is not enough evidence that cryptocurrencies are a scam.

We had to make this clear to the beginners. Because of different opinions, people became confused. The industry seems attractive to them, but they are afraid to lose their money.

It is an interesting subject to analyze the ways Coronavirus is affecting cryptocurrencies. This might help you understand what is going to happen in the future with Bitcoin and other digital currencies.

2. People Are Selling Digital Currencies

This is an obvious fact that we have to highlight here. It is noticeable that many investors decided to sell their coins and get fiat money for them. The main reasons why they are doing that is – panic. We understand that people do not know how to react to the current situation. For the first time in modern history, we are facing this sort of problem. However, life will sooner or later continue and the economies will continue to function. Because of the panic, the value of each digital currency has dropped down.

3. Online Purchasing

The same thing does not count for a certain group of people. As you know, many businesses in the world decided to accept cryptocurrency-based payments. In that way, they strive to attract people that are active users od digital currencies.

People avoid getting out of their house and it is easier for them to shop online. Those that remained loyal to cryptocurrencies were making those purchases in the same way as before. This is one of the positive effects of Coronavirus on cryptocurrencies. People started to use them more for everyday purchases.

4. All Cryptocurrency Events Are Cancelled

Many events related to this industry are organized each year. The purpose of these events was to promote this industry as one of the more perspective in the world. Despite that, the organizers of these events had the goal to educate people about this industry.

In most cases, the values of some digital currencies changed after these conferences. They attracted new investors that started to make investments in different digital currencies. However, something like this is not going to happen this year because of the rules that we have to respect. Still, the good thing is that many conferences are now organized online. Their popularity might be the same as before, but there is still enough space to inform people about this industry.

5. Is This a Bad Moment to Invest in Cryptocurrencies?

Well, this is the question that most of the beginners are asking. Some more experienced investors have the same doubt. However, many experts believe that this is not a bad moment for investing. Indeed, the value of all cryptocurrencies went down. A lot of investors lost their money because of that. But, that doesn’t mean that their value won’t raise again. There were many crises in the history of different cryptocurrencies that confirm this statement. You can get a bigger amount of coins without any need to invest a fortune.

Still, if you are not educated enough, then the right moment to invest does not exist. Use this period to educate yourself about this subject and how the entire system is functioning. There are also software solutions like ImmediateBitcoins that can help you improve your revenue. Use all the necessary tools to become an expert. With good investment skills, you are ready to participate in this world.

At the end of this article, we want to tell you one more thing. Beginners should not believe in rumors that they here these days. A lot of fake news is spreading faster than Coronavirus online. Find a reliable source of information that always supports current statements with proper pieces of evidence. Do not be afraid of uncertainty because this will always exist in every business field.

The post 5 Ways Coronavirus is Affecting Cryptocurrencies appeared first on Along the Boards.

Anyway, there is one fast-growing fact about this industry. In 2019, online sales in this industry have jumped by 35%. This is directly related to the bigger popularity of the e-commerce industry. People got used to buying things such as clothes and makeup online. This habit they started to apply to their everyday life.

When things are changing rapidly, it is not possible to keep the same sales strategy. You need to adapt to the market and change almost everything. Here are a couple of trends in the CPG industry that every entrepreneur should know.

More about Online Purchasing

We already said that the online purchasing of CPG products grows faster than ever before. Still, let’s fulfill this statement with some additional facts. The USA is the best example of this growth. Around 50% of citizens are buying these groceries online. Experts predict that this model of purchasing will reach 20% of all grocery sales until 2023. The predicted value of this industry is $100 billion. Do you still think this industry is not profitable?

Amazon over Traditional Grocery Stores

Have you ever heard about Amazon Fresh? This is a service provided by Amazon that delivers groceries for an hour or two. It was a logic move made by this giant eCommerce platform. Imagine that you need to wait for this sort of item for more than 1 day? You can go to the traditional store 10 times until then. Because of that, this is the fastest-growing category for this year.

Anyway, Amazon is not going to be the only company that offers this sort of service. The number of online CPG stores is going to grow in the future. All of them will need to be able to offer fast delivery. With fast delivery, people will slowly start to avoid going to traditional stores.

Omni-Channel

Have you heard about this term before? It is a multichannel approach that wants to provide buyers with a seamless shopping experience. This includes shoppers that are purchasing goods via mobile or computer device. Well, this sort of approach has come to the CPG industry as well.

If you are a small business still, partnering with some larger retailing companies would be a good choice. They already have high-quality delivery options and you won’t have to worry about fast delivery.

Digital Channels

We live in a world of modern technology, don’t we? Many companies expanded their business thanks to social media, personal websites, etc. However, all these companies were working with some other type of product. For instance, Nike and Puma invest a lot of money in digital advertising. It helps them reach their audience in a lot easier way.

However, what about CPG stores? Only 2 years ago, it was almost impossible to see an Instagram or Facebook ad that offers you to buy a consumer packaged goods. Today, this is one of the trends that you need to follow.

The number of CPG stores that are promoting their products on social media is growing. This is a good way to establish a brand and become a recognizable business on the market.

It is the right moment to do that now when this method did not become too popular. If you use it at the right moment, there is a huge chance that you will split your business from the masses of other CPG stores.

Subscription Model

You have probably subscribed before to a YouTube channel and you know how it looks. Well, this is a different sort of subscribing that can offer customers a lot better experience.

There are several different things that you can do. For instance, they can subscribe to your website with their email. Newsletters are probably the first thing that could gather emails from your customers. In that mail, you can inform them about price-changing, discounts, etc. They will appreciate that and there is a big chance they will purchase goods from you because of that.

Collecting Point Method

The average person usually uses 3 apps on his mobile. For instance, social media are a good example of that. Anyway, you can hire an app developer that will design an app of your store that users can use. From that app, they can order food or any other sort of CPG products.

For each product that they buy, you can give them a point. Another way is to give them a current number of points for the amount of money they spend. For example, if they spend $100, they get 1 point. After they collect 10 points, they can get a 20% discount.

In this away, you will ensure that current customers become the most loyal ones. When you have loyal customers you are slowly becoming a recognizable brand which is another trend in the CPG industry.

Stronger Focus on Branding

The habits of today’s customers are completely different than 15 years ago. They have different habits and demands. For instance, the most active buyers are currently the members of Generation Z. This generation has concerns about the future of the planet and people on it.

So, what would this brand appreciate?

They would respect you more if you start promoting products through a digital channel that will ensure a healthier environment. For example, reports from Digitwise and similar companies note that some CPG stores choose to promote natural and sustainable ingredients in the products. Others would rather choose to work with plant-based CPG products.

Developing a brand does not have to have anything in common with food or health products. Some brands on the market are investing a lot of inequality and human rights. This is one of the biggest concerns of younger generations.

Generation Z needs to be satisfied because they are the ones that buy most of the things online. If stores convince them that they deserve their attention and money, this Generation will convince other people the same thing. Their influence on society is huge.

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