Definitely, there ought to be some changes in the post-Covid world and for businesses to survive, it is imperative to adapt as per the requirements and needs of the modern world. It is of immense importance to gauge the needs of the audience and offer them value-based information or services. Digital Transformation has been the keyword for the past decade but it won’t be wrong to say that it has caught steam since the past year.
It’s been more than one year into the pandemic, then why is it that some companies are scaling up the chart, whereas others aren’t even able to sustain themselves. The reason being that some of the companies have or are successfully implementing digital transformation and have adapted platform-based business models, whereas others are left behind as they haven’t yet climbed onto the wagon and will eventually cease to exist. It has been a seesaw ride, where many companies lost out to low consumer demand which was a result of COVID-19, on the other hand, there are various companies that were successfully able to leverage digitalization and digital transformation and further solidified their position.
As per a report by McKinsey’s US Digital Sentiment Survey, the readiness in adopting digital transformation has been shown by the retail industry, especially grocery and apparel. These sectors were able to enhance their digital adoption rates by an impressive 100% and 40%, respectively.
Other industries like the beauty, banking and healthcare sectors have shown similar trends, where they too are adopting their practices in sync with the growing demands of technology adoption. Post Covid the shape of an organizations recovery will depend on how willing they are to undergo digital transformation and are successfully able to adopt platform-based business models. There are established guidelines and rules, as well as established best practice standards to ensure success in the said area.
Post discussing the impact of adopting digital transformation, we shall now see some areas where the pandemic has left an indelible mark.
Post Pandemic trends which are here to stay
These are just some of the facts that we have scratched the surface off with, the pandemic has brought in many changes, some good and some bad, some which were needed and some which could have been avoided. The way world used to function pre-COVID is definitely not how it will function now, it’s always best to stay ahead of the curve and be prepared for any eventuality in these unpredictable times.