There will always be some important trends influencing business across the globe every year. While some are fleeting and don’t last long. Some trends are significant and seem to make an impact for a longer time. However, the trends brought about by the pandemic were not anything anyone ever bargained for. The rapid shift in consumer behavior was unprecedented and businesses were obliged to quickly adapt to these changes. These brought about trends across businesses of all sizes and industries and opportunities that can be leveraged to drive businesses forward.
Matthew Brannelly, the founder of Orbit NFP hub, an organization driven with passion in helping NFP (not-for-profit) organizations grow observes that these trends will impact significant growth during and after covid 19. You will need to understand the trends and technologies in order to ensure your business is moving in the right direction towards growth. Here, Matthew Brannelly provides business trends that are transforming the business landscape now and post-pandemic.
1. Digital Adoption
The closures of stores, brick and mortar businesses, malls, restaurants, gyms, and concern of personal safety have got consumers shifting online in a big way says Matthew Brannelly. This means businesses that were still on the fence are left with no choice but to embrace online business in order to cater to their customer needs. In fact, during the 2020 Black Friday/Cyber Monday online shopping sales period, over 2 million Australian families have placed orders online. Australia witnessed a record-breaking online sales boom more than ever during the pandemic. The new normal is restaurants receiving takeaway orders online. Gyms providing virtual fitness classes, grocery stores shifting online for product ordering and delivery, and many more.
2. Work from Home
The transition to work from home is probably the most significant trend that is driving the new normal. Businesses are now experiencing firsthand that they do not need to be restricted to the four walls of the office before they can be productive. This has brought about flexibility in work arrangements. Although some are still wary of the good and bad that come with work from home brought, the pros sure outweigh the cons. Expect more companies allowing employees to work from home even after the pandemic ends.
3. Virtual Conferencing and Events
With social distancing, businesses have to embrace virtual conferences.” How can you attend a charity auction if you cannot go? How can you raise a charity fund if your partners are unable to attend? Nonprofits companies are turning to virtual gatherings not only to engage with the public but also to spark financial support”, Matthew Brannelly explains. “Facilitating virtual events have been one of the most cost-effective ways to reach a wide array of potential donors and push their initiatives, Matthew adds. Not only nonprofit organizations. Many other businesses are also leveraging virtual conferencing and virtual events technologies to keep people engage, connected, and do business amidst the crisis.
While the need for strong cybersecurity has been around for a long time, it is further heightened during the pandemic as many organizations experience a rise in security threats and attacks during the pandemic. More businesses and people in Australia have transitioned online and they are adopting cloud technologies for seamless business operations. This, however, comes with an increased risk as cybercriminals are exploiting these trends to boost their success rates of attacks. Companies need to incorporate strong cybersecurity more than ever and assure their customers that their information is secure.
“Sooner or later, the pandemic will come to an end. But these pandemic trends are set to change the business world during and post-pandemic. Only businesses who are quick to adapt to these changes will reap the befits,” Matthew Brannelly concludes.