The Impact of the Coronavirus Outbreak

With newly confirmed cases and the growing awareness of how coronavirus may quickly spread from human to human, most citizens are following instructions to stay at home in an effort to prevent spreading the virus.

Despite efforts to contain this outbreak swiftly, the immediate effects are evident for businesses. Offline shops have shortened their opening times as traffic has decreased. Many cities informed to extend the Chinese New Year holiday until February 9th, 2020 are doing so, even though any company that asks employees to resume work from home must pay them double.

Online retailers are impacted, too. With increased sales, they continue to strive to deliver goods within promised timeframes, even though it involves doubling employees’ pay. With a shortage of masks, many online retailers are giving them away for free with orders that meet minimum requirements. And many factories are working overtime to produce masks and protective suits regardless of the additional labor and costs.

While businesses in all industries are concerned, with flexibility and a “ready to adapt” mindset, businesses know they will overcome. They have faith in people and believe the economy will definitely boom again. The spirit of fighting this virus will make China stronger and allow businesses to better adapt to change, bringing success in the future.