Between so many updates about the major industry events being cancelled, factories temporarily shut down, the deadly virus has taken over the day-to-day realities of dealing with life. There are several widespread concerns affecting business all around the world from a small scale sector to popular ones everything is getting struck.
The world’s economy is on the tip of recession and the photographers are no exception to the impact of it. Artists too need to be prepared, just like everyone else across the globe. With the corona virus spreading worldwide, photographers are scrabbling with the potential for the severe economic impact on their livelihood.
If you are a professional photographer your bookings might be cancelled or you might be planning whether or not to keep the upcoming run of the shoots. At the back of the mind, you might still be wondering how all these are going to influence the photography industry?
Here, few ways in which COVID-19 is persuading the photography industry and what you can do about it.
There are any global level changes seen, which the photographers have to get used. It includes greeting with nods instead of handshakes or hugs, that needs to be adapted. Hand sanitizer will become a must-have in the photographer’s bag. Only verbal posing skills will be developed to accommodate clients who prefer no physical contact. In short, you will have to heighten awareness of what they are touching on the shoot and also taking frequent breaks to wash your hands.
Amid all these common precautions, as a photographer when you are focused on the details, compositions, setting and moments, it would be hard for you to manage such precautions. But in the current state, you need to be aware.
Camera sales were dropping over for the last one years, earlier than the coronavirus hit the society. These happening will add on the delays of the camera launch, supply chain problems and an economic recession leading to another historically bad year for the industry.
The release of the new cameras will be postponed and the trade shows are getting cancelled already and the virus is building up the wait. Even after the cameras become available, many professionals choose to postpone their investment in the new technology especially after the decrease in the income from the prior year.
Photography is a luxury good more than a necessity, which depends upon the demand for rising and falling with the income of clients. As the recession continues, the need for photography services is bound to decrease. Of course, for those who already have a good client base, they will be influenced less than others. Notwithstanding, the industry is going to face a temporary decline in its revenue.
Those who are in sports photography with the sudden cancellation of games will face a great loss. Even wedding photographers will feel the impact of postponed weddings or weddings with a low budget. Moreover, in-studio newborn or corporate headshot photographer may start to feel fall in their business as your client will decrease the human contact, tighten their wallet and spend more time at home.
The bottom line is that the photography business will face a great drawback in comparison to other small businesses.
Camera renting companies have been trying to survive in the market for a prolonged period of time. They have already been trimming budget, restructuring and buying stock while hoping to survive. On the top of that, the coronavirus will act as unceremonial shove towards to cut more aggressively and face the realities which the industry has been trying to put off for so long.
In the end, when all is said and done, the industry will need to cut operating expenses more than they have in years. Thus, affecting the photography industry in the long run.
Lastly, you have two options you can either let things be or you can invest this current time in growing your business. So that the current impact of the recession is benefited and your business is primed for success when the economy recovers. Here are a few suggestions which you can actually try:
Corona virus has and will have an influence across the world from both livelihood and economic way. The photography industry will suffer a great loss just like other industries. You have no other option but to believe it, you can’t ignore the consequences of the virus and the impact it has on the industry. The best thing you can do is to stay calm at the moment and prepare what’s about to come with the precautions to advance in the photography economy.