Experts say that in the future, after the COVID-19 pandemic is controlled, the economy will have a new prosperity, and from a positive perspective, that is potential.
As the world experiences an unprecedented global health crisis, businesses in almost every consumer sector have ground to a halt, facing an uncertain and unpredictable future that will likely be very different from any expectations.
To understand the scope and scale of these effects, we take a closer look at forecasts from three leading experts.
Mr. Joe McDonnell, executive director of WGSN Insight, commented that the outbreak of the pandemic is the time to force everyone to digitalize.
People are having to work from home, their entire lives are being forced to adapt to digital. These behaviors will not disappear after the epidemic ends, it is highly likely that those forced to adopt digital transformation practices will continue these behaviors.
Consumer appetite for delivery services will continue after the crisis ends, and retailers who cannot satisfy will be highly unlikely to succeed, even in a post-COVID-19 world.
The companies that benefit the most from this situation are those whose products/services focus on the following factors: comfort, convenience or necessity.
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Even if everything is 100% recovered, you can still get over something like this and not remember it anymore.
High-impact crises like this have a way of accelerating new trends.
Brands need to identify for themselves what really matters to them.
“At a time of crisis like this, we see innovation taking over.”
PSFK is a retail research and innovation business, and Piers Fawkes sees that just as China's SARS outbreak in 2003 led to the growth of e-commerce in the country, the impact of COVID-19 could help herald changes in US consumer habits, just as the potential development of facial recognition technology helps limit the spread of disease, or the rise in door-to-door delivery
Will the ideas and techniques expressed in many aspects develop rapidly due to restrictive policies, safety concerns and shortages of goods?
In China, these programs have been designed to go beyond mask-wearing to identify people with high temperatures.
Fawkes also foresees a new community at the local level, driven by new digital tools, such as bulk buying on the general online channel.
They communicate via chat platforms and then one of them buys the product.
Contactless solutions may increasingly replace in-person activities, such as concerts or sports.
Many of these ideas have been circulating for a while, but PSFK researchers think this crisis will bring them into full action.
So now, some businesses have turned to different tools, mediums and formats to be able to change and keep up with innovations.
What your business needs to do now is to clearly understand the situation, understand customer needs, and apply the most suitable technology for this time to help your business overcome this difficult time.
According to Jackie Chiquoine
