Diverse industries are affected by the Covid-19’s impact. But, while the overall performance of all industries during this period was relatively steady, it is clear that digital retail has suffered the most. Numerous data companies have provided intriguing data on the sales of digital retail businesses between 2020 and 2021. This suggests that there was no decrease in the sales, but rather an increase. From a microeconomics perspective, this paper examines the reasons behind Covid-19’s continued growth in the digital retail industry. This paper will examine the causes of this phenomenon using economic concepts and comparative stats theories. It will also provide a detailed microeconomic analysis of these factors. The conclusion will provide a concise and clear summary of all the report’s analysis and description.
Concepts
The research uses economic concepts to explain the phenomenon that took place in Australia during the covid-19 outbreak. Market theorists believe that demand and supply drive market systems. This explains the situation best (Balleer, et al.2020). This was due to the stringent enforcement of laws and regulations during the covid-19 crisis. The covid-19 epidemic forced people to stay at their homes and prohibited all movement. This led to a need for digital goods. Many people desire devices that can provide both entertainment and workplace technology (Hassler, et al. 2010). In response to growing market demand, the provider had to increase its electronics market supply.
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