How are Italian Brands Coping with the Impact of Coronavirus and What are Their Plans?
During the initial lockdown period, the Italian designing industry was conducting business as usual as the office workers were conducting meetings from home and the industries were producing huge amounts of materials while following the necessary SOP’s.
But in Facebook Live telecast on March 21, the Prime Minister of Italy Giuseppe Conte announced that all the no- essential business activity is being halted till April 3 to contain the spread of Coronavirus among the workers.
Effect of the Halt on production
In April, most of the companies and the offices are closed for most of the month usually. So the halting would not have any effect on the production strategies and plans. Because of the same routine every year, the clients of these companies would not need their merchandise delivered to them anytime soon. Some companies have said that they will acquire their production goals in the month-long holidays of august.
Adoption of smart working strategies
The adoption of digital working methods such as commuting has benefited the employers and the brands too much. Companies that didn’t adopt the virtual ways of communication and did not use digital strategies have found out that working with digital channels doesn’t have an impact on the workflow even when the companies are closed, and there is no production.
Most of the companies in Italy have a view that they are saving more money and their company is getting more benefits since their employees started working from home.
The evolution of sales
Businesses all over the world are slower than ever as they are being followed by virus everywhere. Not only the toilet paper factories are suffering at the expanse of the virus, but numerous other manufacturing companies have shuttered their gates.
Although the markets in Asia are opening slowly, but this doesn’t mean that the situation is controlled. Due to the panic, some customers in Italy have either bought too much stock or are holding on to their money. Although the majority of the brands aren’t panicked and are conducting business as usual as nothing happened.
Although markets all over the world have shuttered their gates, there is a hope that someday soon when all of this is over, the stock markets will be opened, the business will be conducted as usual, and the production will be maximized to a level that the world economy gets back on track. It is high time to keep hope alive that we will make it to the end together.
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