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- The companies analyzed have six things in common that enabled them to make headway in the crisis.
The COVID-19 pandemic has plunged the world into a deep economic crisis, the consequences of which are ongoing and are expected to continue into the next year.
He ‘Big limitation‘Caused the shutdowns and activities of companies that had to make cost cuts, layoffs and changes in their investment plans and for which those measures were insufficient, had to file for bankruptcy and survive, many are still pending.
However, there are also cases of companies that have made decisions to adapt to the new global environment and not only to survive but to increase their sales and create more jobs amid the economic crisis.
The Spanish consulting firm DEFACTO identified 9 companies that imitated themselves like chameleons in order not to fall victim to the crisis. In several cases it was a question of reinventing their business models.
During the year, the consultancy monitored quarterly results for international companies across a variety of industries, which exceeded analysts’ forecasts for 2020 results.
According to DEFACT, The companies analyzed have six things in common that enabled them to make headway in the crisis.
- Consumer understanding. The great importance given to the departments of Insights know exactly the needs and preferences of consumers.
- innovation. These companies have been strategically committed to development and innovation
- Supply chains. You were looking for agility in logistics and warehouse management.
- Risk management. They did offshoring and diversification to reduce risk.
- Mix of experiences. You’ve done the right hybridization of personal and digital experience for clients.
- Management Integrity. The companies place particular emphasis on looking after their employees and the value chain, as well as on sustainability.
Here are the global companies that have adapted best to the crisis:
The company reacted very quickly to the sudden surge in demand: the number of users rose from 10 to 300 million between December 2019 and April 2020. Within a very short time they opened new data centers and signed new partnerships with strategic partners.
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“To meet the growing interest of giants like Microsoft and Cisco in video conferencing, the company has launched new developments,” explains DEFACTO.
The company, which is dedicated to the development of enterprise software, increased its subscription revenue by 29% in the second quarter and achieved historic results on the stock exchange in record time thanks to the hyper-segmentation of customers and the development of innovations.
“In just a few weeks since the outbreak of the pandemic, the company has developed two new solution packages that enable company managers and area managers to facilitate the safe return of their employees to their workplaces.”
The tech company recovered from the decline in tourism in record time and the crisis could not have come at a worse time as it was scheduled to go public in January.
“Mobility restrictions in the spring led to a radical decrease in bookings on the website. The greatest success of Airbnb was to adapt quickly to the new habits of its regular customers and to concentrate on offering stays close to the visitor’s place of residence and investing in non-strategic areas, ”emphasizes the advice.
Elon Musk’s company shot up its market value by 330% last year, overtaking Toyota and becoming the automotive assembly company with the world’s highest market value. The main factor behind the success was the very high productivity that was achieved until the annual production target of half a million vehicles was reached. But what is really amazing is that Tesla has a gross profit of 23.5% on every car.
The company continues its plans to geographically diversify its manufacturing in China and Germany, which benefited them this year and mitigated the impact of COVID-19.
The home depot
The home improvement chain knew how to timely adjust their offerings and business strategy, and cancel promotions for retailers and professionals alike to focus on the amateur DIY niche. As of April, pedestrian traffic in its facilities increased by more than 35%, and the majority of customers switched from professional profiles to amateurs.
In the second quarter, they posted 23% year-over-year growth and posted profits of $ 4.3 million, up 24.5% from 2019.
The e-commerce giant started the year with many problems. As the demand increased rapidly, the news about imbalances in the logistics chain multiplied. Product shortages, shipping delays, strikes in logistics centers …
But in just two months he turned the situation around. Jeff Bezos Implementing a crash plan to overcome internal problems: general salary increases, training plans and many other concessions related to flexible hours. Since then, profits have doubled and Amazon’s market value has risen 40 percent.
It’s the company that knows best how to amortize the value of its grocery brands. As the pandemic changed consumer habits and the popularity of products like soluble coffee or precooked foods increased.
In addition, the company has introduced numerous innovations to suit new habits and even moved into the health sciences business with the acquisition of a company dedicated to developing foods for allergy sufferers.
The Swedish company had one of its best historical years in 2020. Gross margins are back 15 years ago and the outlook in China, the US and Europe couldn’t be more positive.
The reason has its own name: 5G technology. Thanks to his wise steps in the US-China trade war, he has built a leadership position in both the West and Asia.
Since the first restrictive measures on movement began, the most popular items on the site have included clothing for home use or special devices for remote work.
Their delivery and return agility is one of the pillars of their marketing strategy and during the pandemic they had an opportunity to demonstrate their excellence in this area.
It was one of the few companies that not only did not close physical stores this year, but also increased its numbers, including a huge interactive space, a mix of store and museum, in central Tokyo.
During the pandemic, they developed a mask that fitted their breathable AIRsm fabric and served as a hook product to increase the influx into their stores.