Impact of COVID-19 on the Global Goods and Services Market and Outlook 2020-2021

Impact of COVID-19 on the Global Goods and Services Market Outlook

Due to the COVID-19 crisis, all the companies and businesses, irrespective of their size, are facing issues and challenges with a real risk of substantial declines in revenue and job losses in particular sectors.Millions have already been laid-off as global fashion companies cancel or suspend their orders in Bangladesh. Many other countries are also facing similar situations.

The goods and services market is likely to be impacted severely. Many developing countries are expected to see a sharp decline in the domestic consumer demand in the short term. Demand for essential goods and medical assistance may increase, but a lower demand is expected for non-essential goods such as apparel and various services. Quarantine measures around the world have already hit the service sector hard, particularly areas such as retail trade, leisure and hospitality, recreation, and transport services. Consumer durables companies are afraid to lose out on peak summer sales amid lockdowns.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

The outbreak has affected the sales of luxury goods; however, sanitary and health care and personal care products are in demand. Online sales are further expected to increase post lockdowns as people would be still hesitant to leave their homes.

This exclusive report by EMR explores the outbreak of COVID-19, its impact on the global and regional economies, and its implications on the goods and services sector. The report studies the impact of the crisis on the global economy by assessing parameters like consumption, GDP, business investment, residential investment, inventory, and governmental policies and decisions. The regional economies analysed for Q1 2020 till Q4 2021 are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Keeping in mind the prevailing conditions, EMR’s new report titled, the ‘Impact of COVID-19 on the Global Goods and Services Market’, gives a holistic understanding of the exposure of the goods and services sector to COVID-19, covering markets such as:

• Appliances 
• Clothing and Accessories
• Cosmetics and Personal Care
• Furniture 
• Household Care
• Luxury Goods and Services
• Outsourcing 
• Recreational Goods
• Services
• Others

For each of the above segment, the EMR report also gives an in-depth understanding of both the supply and the demand sides of the market by analysing:

• Key Parameters
• Price Variations of Key Raw Materials
• Production Shutdown
• Cash Flow Constraints
• Supply Chain Disruption
• Labour 
• Lockdown Impact
• Consumer Sentiments

With a focus on helping business leaders navigate through the shifting landscape, EMR also proposes some key short and medium to long term policies that look towards future growth while minimizing the economic damage.

Our experts at EMR leverage proprietary data, models, and expert opinion to provide timely insight into what the emerging pandemic means for the current needs of the market and future strategies of the industry players. We concentrate on helping our customers better understand the economic challenges, conditions, and uncertainty faced across all markets around the world. COVID-19’s impact on the goods and services sector may take an extended period to correct, but global players can refer to our detailed report showcasing the impact on various sectors and mitigate risk in advance.

We have also updated all our reports considering the impact of COVID-19 coronavirus on the various industries. Check out the reports in other categories to get a deeper understanding of how the COVID-19 has been impacting your industry in particular.

Key Highlights of the Report