This week we feature an article by Rakshit Hirapara, a content marketer at LoyaltyXpert. He shares different strategies businesses should implement during a world crisis in order to gain and retain customer loyalty.
COVID 19 is proving to be like an earthquake. Its tremors are changing the World’s economy and the way you work and do business. As it is, India’s economy was in a downward spiral with growth touching 4.7% in 2019 and the Coronavirus impact could see growth crash to less than 2%.
OECD study estimates that the global GDP will drop below 2.4% and it could be even less depending on which way the Coronavirus goes.
If it spreads then growth could drop to less than 1.5%. It will be 2021 before one can see any improvement. What do you do in the interim to gain and retain customer loyalty?
Weak purchasing power
Lockdowns put the brakes on incomes, production, and purchasing
