3 Ways the COVID-19 Pandemic Has Changed Business
Without a doubt, the last 15 months have been some of the most trying, terrifying, and traumatic experiences many of us have ever had to endure. COVID-19 a word many of us had never heard prior to March 2020, has within the last year become the end all and be all of our existence.
In the blink of an eye, life as we once knew it was disrupted, leaving everything in its wake topsy turvy.
Everyday face-to-face conversations with friends, family, and colleagues started taking place from behind a computer screen, planning lavish dream travels were halted by borders closing and country lockdowns, and everything we once thought of as normal became a privilege we never knew we’d had.
For the first time in a long time our limits were tested and the true mark of survival of the fittest was bestowed unto those who quickly learned to adapt and pivot within the ‘new normal.
One of the many ways that the pandemic ushered in a paradigm shift was in the way we conducted our business. Three ways the COVID-19 pandemic has changed doing business include:
A Greater Dependence on All Things Digital
Having a readily accessible digital business model has always been an ideal concept in order to boost sales and increase your customer base, however until the pandemic hit having digital integrations for your business was never crucial.
It didn’t decide whether your business would potentially thrive or wane, nor did it determine the difference between which employees could stay and which lack of finances forced you to let go.
Since the pandemic placed limitations on people’s ability to pop into stores physically and shop, they were forced to shop online to satiate their almost every need.
As a result, those companies who already had a strong online business model, for example, Amazon were able to make the most of the new business shift.
Introduction Of More Innovative Working Styles
Contrary to traditional opinion, COVID-19 proved that going into a physical office for work was not a necessity. As cases around the world grew and more people got sick, more stringent measures were put in place to better manage the pandemic.
One such measure was the introduction of work-from-home policies. No longer did offices need to be static locations but instead, workplaces became anywhere from makeshift home offices to the comfort of one’s bed.
Additionally, out of thousands of job layoffs and furloughs emerged a new way of earning income. Traditional 9 – 5s were replaced with more flexible working solutions such as running online businesses and freelancing, both of which could be done at any time from any location.
The Yard Sticks For Brand Loyalty Changed
For many people, COVID-19 was an eye-opener and a game-changer in the way they conduct their business.
They paid more attention to the brands who were trying to help during the pandemic and ensured they played their part in supporting them.
Restaurants that prepared hot meals and delivered them to first responders for free because of their tireless efforts did not go unrecognized. Supporting small and family-owned businesses whose livelihood depended on people’s support became a must.
The pandemic opened the pandora’s box of where consumers’ money was going and why it was important it went to the right place.
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