Recession can be just in one country or it may affect globally. Whatever it be, sales has to suffer noticeably. There are some areas which get most affected by the economic slump down. In India, this includes textile industry, banking sector, infrastructure, IT, stock market, real estate, hospitality, aviation, etc. Because of severe recession in America few years ago, most of Indian textile workers rendered jobless as the cotton export reduced. Banking sector, being the backbone of the monetary activities, also faces slump. IT industry always faces too much cost cutting whenever recession hits the course.
Since the entire production is directly proportional to sales process, if the buyer’s capacity is reduced to buy the product, selling of commodities will hamper. Thus the entire final product will dump, leading to waste of manufacturing cost.
Sales qualifying time increases manifold. Getting an order gets a hard nut to crack because of consumer’s reduced buying capacity.
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