Low buying power is widely felt due to the Pandemic, which has lasted over a year and a half. Many businesses have reduced their workforces, and others have even gone out of business. Have their retrenched staff been compensated in cash? The majority of businesses that are still in operation are either run by robots or run at half capacity or less.
Immediate Impact of Low Buying Power.
Because of the retrenchment, there is less and low buying power or purchasing power in the market. People know what they want to buy but are unable to do so due to a pressing need to support their families. Due diligence is usually undertaken when purchasing specific products based on necessity rather than requirement. Most individuals don’t mind wearing soiled underwear in the house if they can still eat.
Many individuals would rather drive their old cars than buy a new one, which is becoming increasingly expensive.
Most families no longer have family dinners on weekends. Even going to the cafeteria for a regular drink is becoming less common.
Some families cannot afford cleaning tissues, soap, flours, rice, sugar, cooking oil, or brooms. In Malaysia, a “boleh” land has devised a temporary solution to these problems. Some companies, politicians, and organisations have implemented one-time ration packages for all families, but these have been selectively applied based on political and business ties. Each bundle costs between RM40 and RM50 to deliver. A 10kg bag of rice, 1 kg of sugar, 1 tray of eggs, 5 packets of instant noodles, and a litre of cooking oil are examples of consumables.
The stamp on these shipments is one of the most despised by the Malaysian populace. Politicians took advantage of the opportunity to have their faces and party logos imprinted on the bags and boxes. Many individuals don’t mind rejecting the goods because they despise certain politicians.
Some hawkers have no choice but to sell fruits and vegetables on the street corner. Patrons and buyers no longer frequent wet markets. The municipal authorities are also unconcerned about seizing these allegedly unlicensed hawkers’ wares. The authorities are simply unconcerned about the hardships that people are experiencing.
According to other sources, these agencies resale the confiscated goods to other markets or stalls for self gain.
Cascading Effects Impact of Low Buying Power
Industries have a cascading effect. Many closures and job losses occur in the supply chain, affecting logistics and distribution. Goods demand is usually strong, but supply is limited, if not completely restricted. Many regular flights around the world have been halted, and even local flight routes have been altered. Flight frequencies are kept to a minimum.
Goods delivery used to take 3–10 days, but now it can take up to 40 days.
This is primarily due to a lack of staff and logistics to handle the goods at the warehouse and in the retailers. Things piled up, and the delivery firm even returned them to the warehouse.
Ecommerce and drop shipping businesses that were once thriving are now struggling due to logistical issues and congested market. These business is now being choked. Most drop shipping sites have slashed prices to entice clients. New ecommerce players are having difficulty selling their goods. Because of limited purchasing power, both physical and digital things are equally difficult to market.
The cost of advertising is rising, and Facebook and Google, of course, are big winners.
Low Buying Power -What to do and sell to survive.
It’s difficult to imagine what to do and sell to exist in this pandemic era. You won’t know what’s good until you give it a go. If you just have a small amount of money to start with and a good data network, the first option is the best.
Stock Market Investing by Stock Buying.
You can start with as little as one lot of ten units and keep it in the market to earn a profit through dividends and price appreciation over time. It’s possible that the true cost to you is unknown. Stamp duties, transaction costs, and broker administration costs are among them. The expense accounted for about 2% to 8% of your whole capital. So, rather than trading, you should invest in the stock market.
Investing is putting your money where there is a chance of earning a good dividend over time with a good and stable firm rather than a company that is not profitable.
Trading in the stock market is similar to buying and selling, except it is done for a shorter period of time, such as intraday. This is a paper deal, and you can profit or loss on paper, but at the end of the day, you must pay for your loss or receive if your trade is profitable again. It’s the same as gambling. In most cases, gambling does not result in a win unless you cheat.
That is why many large corporations outperform tiny retailers. They provide a decent financial and activity report for a terrible, non-performing business.
You don’t have to worry about logistics when you invest in stock marketing because everything is done online and directly into your bank account. All you need is some money to get started, as well as some intelligence to choose a decent company to trade with that might potentially pay you well.
This type of investment is not for long-term investment. It is actually a gambling den where you can buy and sell any currencies pair. There is no dividend involved except just capital gain when you trade. More information can be obtained here.
This involves trading commodities. You do not keep any stock of the trade. If you are a good trader you can make hefty profit in option trading otherwise you can be drain out and strapped with more debt.
To prevent the spread of the corvid among children, all schools have been shuttered and classes are being taught online. Teachers are now utilising internet infrastructure to give some tuition to students who are interested. Many people are using Facebook to hold live classes.
There are numerous options for conducting online tuition, including slide share, zoom, Google Meet, and Skype.
You can create a website to help a club or organisation acquire members. Matchmaking or dating websites are becoming increasingly popular. People can pay you to publish their information online for potential clients. However, you should be warned that these kind of websites are frequently targeted by scammers. The sugar daddies and sugar mummies who benefit from these websites are sugar daddies and sugar mummies.
It’s also possible to sell eBooks on Gumroad without having to worry about logistics. It all depends on who you’re trying to reach; otherwise, no one will buy your book even if you sell it for one cent. If you think you’re a good writer, you could attempt writing some high-value eBooks. Another alternative to help you creating eBooks is by getting PLR. Rewrite them using spinbot apps to improve the content according to your own taste and post your eBook on Gumroad who will pay you some commission when your book is sold. You do not worry with any low buying power in the market because eBooks can be soled as low as free.
Another easy way to make money online without utilising actual logistics is to make an e card and sell it on Etsy. Compile your design using canva apps it is free.
Low Buying Power – Buy Now Pay Later.
I’m not trying to discourage anyone from selling tangible goods online. You can still do that during the pandemic, but logistics will be your backbone in getting them to the people who need them. It is entirely up to you how you will deliver your merchandise to your consumers safely. Many people now pay for their purchases via COD (cash on delivery). That is you buy now and pay later when you received the goods. If the item is not delivered, you will not be paid.
Become An Affiliate.
The affiliate system contains a wealth of materials, including both digital and physical objects. You must be a member of their organisation. It is simple to do so by simply entering your email address or by logging in with your Facebook or Google account. You will be provided a Deeplink for a specific product that you wish to promote and sell once you have registered.
The product creator will pay you a commission for every sale you make. Your link can be shared on Google, Facebook, Instagram, Tumbler, Pinterest, and a variety of other social media platforms.
Here’s a list of affiliate sites you can check out.
Post Articles on Medium
This website allows you to post your articles for free as well. Make sure that your article is authentic by you. The better is your article content and popularly read, this website will pay you. This a good passive source of income. Many writers make thousand in a month passively using this site. If you are noticed a good writer you can even get hired by popular media to write for them as a contract publisher.
Print On demand
Print on demand is also a useful business if you think you can deliver using better logistic. You design the image , logo and wording to be printed on mugs, shirt, bags and so on. This site will sell it for you and you receive some retail profit.