Covid-19 impact: E-commerce sees sharp fall while entertainment and education keeps growing
The release demonstrated that education, entertainment, gaming and tools were the four categories whose budget remained harmless during the lockdown.
The nationwide lockdown might have led to increased consumption of digital mediums for users, but simultaneously it has also led to reduced business for technology providers.
A press release issued by Indus AppBazar – an indigenous app store – asserted that during the lockdown, there has been a low usage rate in e-commerce, travel cabs and ride-sharing categories. However, education and entertainment have seen a rise in user engagement and higher returns for developers.
The release demonstrated that education, entertainment, gaming and tools were the four categories whose budget remained harmless during the lockdown. However, business owing to shopping and travel have seen a major impact. The company had changed its course of action from the initial stages of lockdown and had added more campaigns, which had seen a spike in activities. Entertainment and gaming witnessed immense amount of profits, but social and other categories saw the biggest downfall.
Since then, the company carefully assessed their business campaigns to suit newer trends, and by the third week of the lockdown, they have been able to scale up to 7.13 per cent of the original budgets.
Co-founded by Rakesh Deshmukh, AppBazar is regarded as India’s biggest indigenous app store. In 2019, the company had signed a deep product partnership with Samsung India, making it the only Indian technology brand to be powering the Samsung Galaxy store. AppBazaar caters to more than 60 million users in 12 different languages, including Malayalam, Telugu, Tamil, Odia, Assamese, Punjabi, Kannada, Gujarati, Hindi, Urdu, Bengali, Marathi and English.