In Chinese, the word crisis (危機) is a combination of the words threat (機) and opportunity (機). The health and economic threat dimensions of the Corona (COVID 19) virus crisis discussing on different media platforms every day. However, this crisis also offers important opportunities.
The precautions are taken by Countries.
Developed country managers reduced interest rates very quickly to reduce the effects of the crisis and are preparing to put a huge amount of money into the market. The sum of money planned to be released in the short term is expected to exceed the monetary expansion between 2008 and 2015 due to the 2008 mortgage crisis. It can be argued how much COVID 19 can stop the negative economic consequences, but such low interest and abundant money after the epidemic will offer rapid recovery and business opportunities in the markets.
Due to COVID 19, people closed their homes, schools switched to distance education, workplaces switched to the home office system. Restaurant, cafe, entertainment places, etc. completely closed, or the boom is empty. While this situation creates deep crises in many branches of business, it also provides opportunities for the IT sector.
Possible consequences of spending more time at home.
- More software is downloaded.
- Delivery services to homes will increase.
- More IT hardware products are needed.
- Spending too much time at home can trigger obesity, and this may be an opportunity for obesity preventive products.
All of these provide opportunities for the IT industry, especially for software developers.
Although online consumption has grown very fast, it is still far behind traditional consumption. The share of online consumption in the European average is still around 10%. One of the important reasons for this situation is consumer habits. This process can make important changes in favor of online shopping on consumer habits. This offers important opportunities for the IT industry.