Wix growing new opportunities…
In March 2020, the world shut down due to the coronavirus. Since then, many around the world have been affected, whether it is by the isolation from family and friends or by financial struggles due to businesses shutting down or companies downsizing. Businesses who managed to stay open and operating, had to change their ways to engage customers.
The effect on people..
As more people were home and unable to provide for themselves and their families, people had to get creative with their sources of income. Old and new businesses had to reinvent their business and become mostly, if not fully online based, in order to provide their customers with the safest, yet closest experience to what they would be offered otherwise. Individuals and existing businesses turned to starting their own online website, such as online stores. To do so, people used Wix. Wix.com is an Israeli software company, which allows users to create websites and mobile sites. They are known for their variety of user-friendly tools and many of their free website’s options. The pandemic proved the importance of Wix’s services as companies and individuals turned to the internet to manage their businesses, start new ones, and connect with customers. It also allowed businesses to connect with a bigger audience than if it would have only been in person, since the website is available everywhere and for everyone.
The growth…
The Covid-19 pandemic brought many people to buy many of Wix’s items, services and online events. Wix’s online stores selling worldwide grew from 400,000 to 600,000 active stores this past year. Sales grew by 140% and revenues by 114% since the same time last year.
Is this growth going to plummet or continue?
As of today, Covid-19 vaccines are becoming available all over the world. It seems as though we will return to pre pandemic manners sooner rather than later. As many will return to their previous jobs due to the reopening of the market, I am confident that a good amount will continue to use their website. As for new costumers, I feel as though there will be a big decrease, since people will now be occupied with their previous jobs, and daily activities that were put on pause due to the pandemic. A way to prevent plummeting and sustain the growth that happened during the pandemic, Wix could offer additional tools to connect between the online aspect and the now returning hands-on experience. By doing so, it will give a reason for businesses to continue using their product and services given a pandemic or not.
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