In the middle of 2020, everyone across the world was reminded of each of the apocalypse movies they had ever seen in the past. Yet, even in 2021, everything seems so uncertain that individuals and businesses have done away with long-term planning for now. Will the globe be able to fight the Covid-19 Pandemic? Will the world witness another fall in the global economy leading to a second Great Depression, and is this “new normal” here to stay forever? There are so many questions, very few answers.
Emerging trends for businesses
In the last year and at the beginning of 2021, the globe has witnessed some general emerging trends in response to the coronavirus pandemic. This post analyses the top trends and their significance in the post-pandemic world-
The digital transformation era
Digital transformation is the biggest emerging trend that has intense gain popularity since 2020. Before the coronavirus Pandemic, some businesses invested effort, time, and capital in digital transformation. Other businesses were not bothered about digitalizing their products or services. However, the advent of the coronavirus Pandemic forced companies across the world to take radical action and steps to embrace technological advancements for securing their businesses.
Most industries, right from healthcare, retail, hospitality, and education, have to transform their current business models to stay viable. Organizations can no longer enjoy the comforts of running their businesses physically as usual. Suppose any business is ahead of its peers in the market today. In that case, they need to embrace uncertainty, embrace calculated risks and keep abreast of the evolving trends to leverage the latest digital technology. If they fail to do so, their whole business model will be disrupted.
Businesses today need to accelerate their digital transformation journeys and stay relevant in the evolving time. They should embrace innovation for creating breakthrough value that will become a foremost priority for businesses operating in the post-pandemic world. The first step is getting out into the digital arena with a website. Believe it or not, many companies still don’t have one. A company like ionos.com can help businesses with a full range of digital support from domain names and hosting to marketing and more.
Reformation of the healthcare industry
The coronavirus Pandemic has inevitably revealed key gaps in the healthcare systems of some of the advanced countries across the world, like France, the USA, and the UK. To offer equitable care, the healthcare sector has to undergo several vital reforms to survive.
Studies have shown that even before the advent of the coronavirus Pandemic, more than 50% of the citizens in the USA with health insurance sponsored by their employers delayed their treatment just because of additional expenses.
In a poll conducted recently, almost 68% of adults stated that treatment expenses are extremely vital for their choice to ask for medical care in case they contracted the coronavirus infection. If this is the case, then the failure to get treatment on time will prolong the Pandemic and impact the economy making reformation all the more needed.
Professionals from a credible name in database management and administration, RemoteDBA, state that besides the reformation of health with digital technology, businesses need to make extra efforts to focus on the health of their staff and employees. This is important as mental health cases will surge as social isolation, remote working, and social distancing are the new normal now. Still, some individuals are struggling to accept this harsh reality.
The surge of online education platforms
The coronavirus pandemic did not affect businesses alone. It also affected the system of education. Several educational institutions and schools were not ready to take online classes immediately. This led to a lot of confusion and chaos. Children started to miss school, and online educational systems became an emerging business. Schools across the world started to implement different systems about online teaching to suit their needs. However, this is a completely new concept to several people. Holding online examinations, assessing assignments, and making students completely understand complex concepts are the new challenges that are taking over the world today.
In response to the above situation, pre-recorded videos with animations and options are used regularly, leading to the surge of Learning management systems or LMS. Edtech platforms are emerging in all nations, and they use IT tools for creating an engaging and customized learning experience for the students today. This will continue in 2021 and challenge the conventional educational system, honestly one educational video at a time.
Reconfiguration of business supply chains
In the last couple of years, China dominated the global supply chain until the Covid-19 Pandemic surfaced. Then, suddenly, China went off the grid completely and shut down its logistic connections, each one of them externally. This is the reason why global businesses today have no choice but to reconfigure their regular supply chains.
There is large anticipation that businesses will combine their supply chains with innovative technological platforms in the forthcoming months. They will embrace a multi-tier approach tracking important components like incremental add-ons and the origin of the supply materials. This will open new avenues of communication and engagement with their customers and better manage capital, production, inventories, logistics, and distribution.
Traditional workspaces and remote teams are evolving
A large segment of businesses worldwide started to encourage their staff and employees to work remotely from home. In 2021, this is still encouraged to keep everyone safe. Before the coronavirus Pandemic, some organizations offered work-from-home opportunities for their employees, while others were not even ready or prepared for this shift.
Therefore, businesses need to accept this trend in the forthcoming months. They should be ready to embrace different digital tools for managing their operations without hassles at all. Experts state that this recent spike in demand for digital tools has effectively worked as a successful catalyst for other companies to develop services and products that people can use when they work from home in 2021.
On the other hand, it has been witnessed that co-working spaces worldwide have experienced a huge blow, with social distancing becoming mandatory in most nations that the coronavirus has hit.
During the coronavirus lockdowns in several nations, many companies have either reduced the size of their office or given up their co-working spaces. Now, the question is, will this be permanent? Only the future will tell.
Therefore, when it comes to the new emerging business trends in the post Pandemic era, watch out for the top five above!