How Covid-19 is hurting the events planning industry

One of the industries who are reeling the impact of the Covid-19 lock-down regulations globally is event planning, as they rely on physical interaction to convene their business. Weddings, corporate functions and birthday celebrations have been non-existent over the past few months and joining CNBC Africa to unpack the industry impact is Karen Short, Founder, By Word of Mouth.

Mon, 18 May 2020 10:52:32 GMT

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AI Generated Summary

The devastating impact of the COVID-19 pandemic on the events planning industry, with canceled or postponed events leading to financial strain for businesses.
The need for event planning businesses to adapt and innovate in response to the crisis, exploring new opportunities such as virtual events and expanded services.
The challenges faced by event planning businesses in trying to survive without financial support and the psychological toll of potentially closing after years of hard work.

The events planning industry has been hit hard by the COVID-19 pandemic, as restrictions on social gatherings have forced the cancellation or postponement of weddings, corporate functions, and birthday celebrations. Karen Short, the founder of the events management company By Word of Mouth, joined CNBC Africa to discuss the devastating impact of the pandemic on the industry. Short highlighted the challenges faced by event planning businesses and the need to adapt and innovate in order to survive in these uncertain times. With events being canceled or postponed indefinitely, many businesses in the industry are facing significant financial strain. Short explained how her company has had to pivot its business model in response to the crisis. By launching a new division called 'Frozen For You' that offers frozen meals and online ordering, By Word of Mouth has been able to generate revenue during this challenging period. However, the traditional events side of the business has suffered greatly, with all events being canceled or postponed until the near future. Despite the uncertainty surrounding when social gatherings will be allowed to resume, Short remains hopeful and determined to adapt to the changing landscape of the industry. She emphasized the need for event planning businesses to reinvent themselves and explore new opportunities, such as virtual events and expanded services like frozen food offerings. As many businesses in the events planning industry face the possibility of closure, Short acknowledged the grim reality of the situation. She highlighted the lack of financial support and the challenges of trying to survive without any assistance. Short also discussed the psychological toll of seeing years of hard work and dedication to the business potentially come to an end. While the future remains uncertain for the events planning industry, Short remains committed to overcoming the challenges and finding new ways to succeed. By focusing on innovation and adaptability, event planning businesses may have a chance to weather the storm and emerge stronger on the other side. In conclusion, the COVID-19 pandemic has had a profound impact on the events planning industry, forcing businesses to rethink their strategies and find creative solutions to survive in these challenging times.