The Impact of COVID - 19 to the Trade in India Using Digital, IOT and AI Techniques
K. S. Verma, M. Sundararajan, Adarsh Mangal, Samrat Ray, Ashok Kumar
Abstract
The Corona virus also called SARS- CoV-2which spreads a disease called COVID-19. It has been documented that this disease has been spreading at an exponential rate and conquered 6 out of 7 continents sparing Antarctica. Since its outbreak it has been a close end to most industries and did not spare the consumer able industry. The pandemic creates a new door in digital transformation. Indian economy is adversely affected due the consequences of COVID-19. The traditional model of doing business has to be change as per the demand of current situations. The transformation in the context of digital is observed in all the sectors i.e., in culture, organization as well as in the work execution of an organization, in the industries as well as in the ecosystem via a smart assimilation of digital technologies, procedure and proficiency in every level and functions. The technologies are leveraged with digital transformation (also DX or DT) for creating worth for different stakeholders (customers in the broadest possible sense), create as well as obtain the potential for swiftly adjusting with the circumstances that are ever changing. Transformation done on digitalized mode is a strategy where any product or services are sold and promoted to the buyers digitally, it has removed the role of any mediator. COVID-19 is affects the whole world and it create a social distancing among the consumers, which in turns affecting a lot of businesses. A broad categories of industries and business will affect because of social distancing. In this study a perceived way out is suggested as a concept of Digital Transformation. The buying culture and the parameters might change due to social distancing. This research is conducted to see how the consumer's buying behaviour will change after the crisis of COVID-19. The consumer is transforming the traditional methods of buying goods and services by using online tools and techniques. According to the studies, the model of digital marketing has entered in our visualization for learning the techniques which are best for marketing strategies from various leading and successful companies. One thing is important that the demand and supply of commodities will marginally remain the same after the recovery of COVID-19, the only changes will come in terms of the buying behaviour of the customers. Consumer will make a habit to buy digitally and directly from the producers as precautionary measure.