With recession fears overshadowing the world economies due to the aftermath of the deadly COVID-19 pandemic that devastated the planet, businesses across every industry are looking for ways to stay alive. Grave economic times have impacted small to mid-sized businesses and several larger enterprises in the past.
- 1.8 million small businesses became defunct within the first two years of the 2008 global recession.
- In October 2022, the chief economist of the International Monetary Fund revealed that the 2023 recession would be broad-based.
- This January, around two-thirds of economists surveyed by the World Economic Forum forecasted a recession this year.
A recession can be challenging for businesses, with many needing help maintaining revenue. As an entrepreneur, how will you keep your business ahead of the curve even when the world faces an immense economic crisis or any other threatening disaster? A solution fortunately exists, and it is well-known.
Embracing digital technology will help the world move out of a stagnated market in this century. This way, you can make your business rigorously recession-proof and promise good fortunes for future generations. Digital technologies like mobile applications can be the best tool for enterprises, startups, and businesses of all sizes to survive and thrive during a recession.
One reality that we are confident of is that every mobile app development company in Chennai and similar other IT centers will play an essential role in the future of business. Mobile app development and integration with your business right now is the best and most effective move you could make as a successful entrepreneur. Let us now see why mobile apps help save and optimize your business productivity during rough times and emergencies.
Smartphone Adoption Is Increasing Rapidly
For starters, smartphone usage is soaring in popularity across all demographics. Irrespective of whether it’s video calls or OTT live streaming, the mobile space is enriched with a massive explosion of users from all across the globe.
Research revealed that there was an 80% increase in smartphone usage. Further, older generations are also embracing smartphones to stay connected. The market for mobile apps has soared exponentially.
The Barriers to Success at Present Are Abysmally Low
We understand that reduced economic activity is the culprit of recessions and downturns. NOW is the best time to develop a mobile app for your business and get it to help gather mainstream and widespread recognition.
In the pre-pandemic era, the Apple App Store used to have more than 1000 new apps added to it every day, and now it is safe to say that this fantastic metric has dropped by significant numbers.
Leveraging the combined power of a devastated economy and people engrossed in their mobile apps and other digital devices is a superb move. With the present market conditions, it is for sure that a mobile app will do marvels and amazing wonders when it comes to worldwide engagement.
The Future Is Digital (or Rather Mobile!)
Digital businesses and enterprises are the ones that will survive any onslaught from poor economic conditions. And during times of calamity, the people of the world have no option for retail other than relying only on the internet with 100% confidence and trust. You can use that fact as a core aspect of your business.
During recession times like the COVID-19 pandemic, successful businesses adapted to turning digital and could do well while others became extinct. It is better to invest in mobile app development now, seeing that 50% of internet traffic is generated via mobile devices.
Both the Words Mobile and Money Begin With the Same Alphabet
Wise entrepreneurs have ultimately become aware of and adapted to the ever-varying customer preferences.
- Fitness apps are branding massively and getting more users every day.
- Meditation apps earn people’s trust by offering all front-line healthcare workers free subscriptions.
- During the pandemic, with all the educational institutions shutting down physical classes, several apps have helped teachers, students, and parents get comfortably synced with homeschooling.
So, what does this information convey? Around two-thirds of app-based businesses saw a surge in global revenue since April 2020. The tip here is to bring in users via a mobile app, and they will stay in your business for a very long time.
Customer Insight Understood Greatly
The Corona virus era altered the consumer behavior of people worldwide. It gave a better enlightenment regarding how the markets changed and will change in the subsequent times. Many people have embraced video conferencing services, which creates more significant opportunities for such platforms. Also, there has been a rapid shift from high-street shopping to digital shopping via mobile apps.
Opportunities in digital advertising grew exponentially, acting as gold mines for entrepreneurs who wanted to strike gold despite the crisis. Due to the restrictions imposed by governments from all over the world then, many markets got narrowed. This proved an excellent opportunity for digital entrepreneurs seeking improvement options for their businesses. Ensure you observe the market behavior to define your business strategy and develop your mobile app accordingly.
Mobile Apps Are 1000% Future-Proof For Recessions and the Years Ahead
Utilizing mobile technology in our daily lives is here to stay firm even well into the future. Mobile app development also is destined for prosperity. Becoming mobile is one of the best future-proof strategies. It will help benefit your business now and help your business become better and more efficient working as the economy recovers.
As your rivals in the market struggle, your business is ascertained for tremendous growth and success. The benefits associated with the saving power of a mobile app during a recession will enlarge to be even better when the stage for economic recovery is going on.
Thus, for your business, mobile is the way to go! Ensure you don’t make a recession stop your enterprise and business from flourishing. With that said, you are now ready to get a mobile app for yourself and tackle the recession that is forecasted to have already arrived.
Now, which mobile app development company to choose and which is the best for you? The answer is to go for a mobile app development company in Chennai.
Why Choose a Mobile App Development Company in Chennai For Your App Development Needs?
Choosing a mobile app development company in Chennai can be an excellent decision for businesses looking to successfully develop mobile apps that are high-quality, cost-effective, and customized. There are several reasons. Chennai, also formerly known as Madras, is a globally renowned metropolis that occupies the prestigious position as the second most dominant IT hub in India after Bengaluru. The city has built quite a reputation in healthcare and for promoting every big company in the world to invest in the city for digital technology-related opportunities and services.
The mobile app development companies from this ever-bustling city have an in-depth understanding of the latest technologies related to customized and white-label app development. Another plus point is that the app developers in Chennai are known for offering high-quality-oriented services at very economical costs compared to all other cities in India. The time taken to develop and launch a mobile app can be easily achieved in Chennai in a few weeks or even days.
The city is also geographically positioned at a very favorable location, where every country globally can comfortably reach out to the technology companies in Chennai irrespective of their time zones. Speaking of the city’s infrastructure, it is exceptional, and clients worldwide will have a memorable and wonderful experience connecting with Chennai for its outstanding technological prowess and warm hospitality.
Wrapping Up
A mobile app can be valuable for businesses looking to thrive during a recession. With the right approach, a mobile app can help businesses of any stream, like healthcare, crypto exchange, etc., survive a recession and become stronger. It can provide a competitive advantage, improved customer satisfaction, and a new revenue stream to help sustain the business during challenging times.
Embrace investing in a mobile application today to save your carefully-built business and thrive exceptionally during a recession. So, get in touch with any mobile app development company in Chennai and develop a solution that helps serve people in the best ways during periods of crisis and recession.
