New way of development
Of course, after the pandemic peak is over, the purchasing power will not immediately return to the pre-crisis period. Now, all industries are focused on increasing profitability, preserving the customers pool, and attracting new customers in the future.
More and more, international companies are starting to release products or provide services that are in demand due to the pandemic. The factories of the premium LVMH holding have begun producing an antiseptic gel to be delivered to the French healthcare system. The automaker Lamborghini will re-equip several workshops in Italy to produce surgical masks. They will be sent to the Bologna hospital treating the COVID19 patients. And Dyson will begin producing CoVent portable artificial respirating units. In Russia, the cosmetics manufacturers Faberlic and Svoboda went the same way of diversification.
Here is another example: in Italy, winemakers and cheesemakers that were previously selling all their products through HoReCa, are uniting and forming joint baskets of various products by various manufacturers for home delivery. Although it is not cheap, the demand is huge!
The current epidemiological situation in the world, closed borders, the restrictions, as well as the international air and rail traffic suspension directly affected the export activities of manufacturing companies. However, we understand that the restrictions are temporary and, currently, business needs to be transformed, including in the field of foreign economic activity. A lot depends on the company initial readiness for a drastic digital transformation and the strategy that leaders will adhere to.