Impact of COVID-19 on Sales: What comes next?

Many business owners will remember facing global financial downturns.

Whether it was the 2008 financial crash, the dot.com bubble bursting, or the stock market collapse on Black Monday.

Others will be staring at this without that experience and searching for a foothold to combat the slump in sales and confidence.

This is not an unprecedented financial climate, but the impact of COVID-19 has redrawn the working world in a way that we’ve never seen.

It has pierced through healthcare, travel, personal freedoms, global economies, politics, and entire industries to bring them to a grinding halt.

Even for the businesses that haven’t been affected by the financial fallout, the people within them have.

That said, this is also a time of enormous opportunity for businesses. One that has forced a generational shift in selling overnight and created a “business Darwinism” where companies will either evolve or close.

Difficult times are a bedmate of brilliant innovation. Disney, Microsoft, IBM, Kellogg’s, General Motors, AirBnB, Alibaba, Salesforce, and Netflix were all born or remodeled in a recession.

This report intends to provide some collective insight that sales leaders can deploy in the new working world and show that on the other side of a financial downturn is innovation.