Companies of all sizes need to respond to these changes in the best possible way if they want to be on the positive side of the new normal.
5 min read
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As always, there is no magic ball to know exactly about the future. However, we have statistics and risk analysis, the results of which reveal some changes that should be preserved in the form of work organizations and consumer habits. Economic actors, institutions, companies of all sizes, governments and individuals must therefore respond to these changes in the best possible way if they are to stand on the positive side of the new normal.
These trends that we will see in the near future are:
1. Physical deglobalization and online integration
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The integration and mutual dependence of the countries is not decreasing. However, this integration will require more and more digital hues. In other words, the physical characteristics of globalization will diminish, such as restricting citizens’ mobility between countries for work-related reasons, as online globalization deepens.
2. Online economy
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Although we already knew that online purchases and their respective forms of electronic payments represent the future of commerce, due to the pandemic, electronic commerce is advancing exponentially and this affects the entire production and organizational chain regardless of the industry. For this reason, the strategy must invariably invest and move in the direction of electronic sales, since after the emergency many of these new forms of online business organization will remain and will only deepen.
3. Return to Keynesianism
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With the emergency created by the health crisis, governments are already increasing their involvement in their economies. This is done to protect the essential consumption of vulnerable populations, jobs and businesses affected by the pandemic. This is expected to gradually decrease as COVID-19 is brought under control. This trend will continue for a few years, however, and companies must learn to live with this new role for government for the time being.
4. Emphasis on health and safety
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Most of the concerns raised by people about COVID-19 relate to health issues. Because of this, public or private organizations must prioritize these issues when planning the transition to the new normal. This means, for example, creating exclusive schedules for risk groups, permanent sanitation, home or car service, teleworking, teleconsuming, etc.
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Due to the scale of the pandemic, many companies have suffered while others have emerged from the chaos. It will be necessary to be very attentive to trends as “getting married” to a company or institution’s organization and sales programs from the time of COVID-19 can lead to its failure if controlled.
6. From to lead for sale, no physical contact
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Some of the new patterns that have been put in place to deal with the crisis remain as new safety requirements for everyday shopping. Therefore, establishing a methodology for offering a product or service with health security is vital. The consumer journey needs to be redesigned for each industry. The customer experience scenario is evolving week after week, so adapting and forgetting are not an option. it will require constant improvement and adaptation.
7. Operating costs, capital and investment plans
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The cost structure of organizations also needs to be reviewed in detail and investment plans need to be reconsidered. The new normal is not static at all.
Anyway, apparently the key word will be “resilience”; The organizations that invest in improving their adaptability, which is nothing more than the ability of an organism to overcome crises, will get the best results or even benefit from the current situation.