Corona Market Update: Market overview and forecast for Q3, 2022 By Kamesha Keesee
PHOTOS FROM 123RF
Covid 19 outbreak brought many businesses to a standstill, and two years later, the world is struggling to get back the economy to where it was. Both buyers and sellers have faced various challenges and adopted some methods that are now the new norm not to change any time soon.
IS THE MARKET CONDITIONS A BUYER’S OR A SELLER’S MARKET? As indicated earlier, buyers and sellers have been affected by the pandemic. For instance, during the last two years, most people have shifted to sourcing goods and services online to protect against the virus. The new norm is here to stay as people prefer it for safety and privacy. Buyers and sellers prefer digital self-serve and remote human engagements over face-to-face interactions. The buyer’s online interaction enables them to place orders and view details of products. More so they also have the benefit
of fast delivery. On the sellers, they can put their market online and advertise to a large group of potential buyers. Generally, the market is a buyer one because most consumers have capital, but they are faced with a scarcity of commodities. The reason is that most business people are faced with high inventory due to Covid 19. Some market statistics include inventory levels, sales activity, and the number of days properties stay on the market. As a result of economic recovery, 2021 and AUGUST 2022 | 75
