Can the World’s Economy Survive the Covid-19 Pandemic?

In the past few months, our lives literally changed because of Covid-19, which eventually became a pandemic. Schools have closed, some stores shutdown making it more difficult to search for the best treadmills for seniors, traveling comes to a halt and government is reacting in the best possible way it could.

Along with the change in people’s behavior is the change in the way they do their search as well. We have seen already how the virus has impacted Google Ads results among different industries, which are totally unprecedented. There are industries that were poised for the changing market landscape but unfortunately, there are some that are not yet ready for the sudden change.

The Graph that Covid-19 Drew

Right now, if you are going to look at market performance, you’ll see that there are about 90 percent of stores that have suffered from declined sales. It might be obvious to state but as the world practices social distancing and avoiding unnecessary trips as well as businesses being forced to close, majority of the brick-and-mortar stores feel the impact of limited foot traffic.

When it comes to Google Ads though, there are a lot of advertisers who are tracking their conversion for store visits in an effort to better understand offline impact of their marketing and advertising strategies online.

There are lots of local advertisers who were optimizing PPC campaigns by using these metrics and seen a big challenge in the several months as Covid-19 has nearly eliminated unnecessary foot traffic.

Are Businesses still in Business?

Advertisers also started noticing the small drop of in-store visits late in February. Then as the first week of March came in, store visits were already down by 24 percent. As the virus keeps on spreading at an exponential rate, store visits were continuously dwindling by 46 percent at the start of 2nd week of the said month.

Following the global travel warnings of the CDC and the advice given by the President, the remaining store visits were down by 80 percent on March 12. There seems to be no stopping on this trend. So several stores started to adapt to the online marketplace to eliminate foot traffic and physical interactions, which somehow, temporarily solve the challenge they are facing.