Over the last few months, we’ve seen huge changes in the way businesses around the world operate.
The outbreak of COVID-19 has seen many businesses close their doors for good, or try and stay open by finding new, innovative ways to stay in touch with their customers, their employees and their suppliers.
Almost all businesses around the world have been affected by the outbreak, and so they have had to find clever solutions to the new operational and financial challenges they face. Keep reading below to find out some of the main ways in which COVID-19 is accelerating a shift in business:
1. The Supply Chains
The COVID-19 pandemic has led to changes in consumer behaviour, supply chains and routes to market. Businesses have needed to respond to these changes by altering the way in which they operate.
The supply chain is now more important than ever. During the pandemic, companies had to find new ways to provide their customers with the goods and services they needed in a safe, secure and quick manner. Businesses around the UK have had to implement a rapid response in order to address the current disruptions and reshape and repurpose the supply chains.
2. The Way We Work
Thanks to the COVID-19 outbreak, we’ve also seen huge changes in working practices around the UK. During the outbreak, many employers were asking their employees to work from home instead of going into the office. Meetings were held over webcast or Zoom and documents were safely transferred over the internet.
We are likely to see this trend continue in the future. People will no longer be travelling around the country for meetings; instead, these meetings will be taking place over the internet. However, like working in an office, anyone working from home will need a good internet provider. If you want your employees to be able to work from home or out of office, then why not consider purchasing a bundle from a site like Melitabusiness.com? Their Business Flexi Bundle starts with a super-fast 500Mbps connection, free calls to other Melita users, plus a selection of popular TV channels, explains Mandy, technology officer at melitabusiness.com. You can even choose to build a bundle that suits your business. Whether you need dedicated fibre links, connectivity between your premises, or cloud applications, they have something to suit your needs.
3. Changing Demand
The global pandemic has forever changed our experiences – as humans, employees, and customers – and our behaviour and attitudes have been changed as a result. This crisis has also changed what consumers spend their money on and how they spend it.
Before COVID-19, we often didn’t think twice about spending our money on luxuries like holidays and jewellery. This has changed considerably in the last few months, as people now look for better deals, better quality products, and try and save money whenever possible.
This has led to businesses having to change the way in which they market their products to customers. Many businesses have chosen to reduce their prices or offer deals in order to encourage their customers to use them again.
The COVID-19 pandemic has also seen a huge change in how we buy products. We no longer go to the shops to purchase them; instead, most people choose to spend their money online. This has led to a number of businesses setting up their own web pages and online stores.
4. The Way We Interact with Our Customers
The impact of the coronavirus outbreak has forced businesses around the world to change the way in which they interact with their customers. We’re no longer able to interact with our customers like we used to, instead we’re having to find new ways to stay in touch with them. The current rules in the UK mean that we have to stand a minimum of 1 metre apart from others (2 if at all possible).
This has led to businesses becoming more digitalised in order to do this. Businesses around the world have started utilising the internet, apps and social media platforms in order to stay in touch with their customers. While many companies advertised their products online before the COVID-19 pandemic, we have seen this number increase significantly in the last few months.
5. The Job Roles Available
The coronavirus outbreak has led to a number of large (and small) companies having to shut their doors for good. This means that unemployment in the UK is now at an all-time high.
While many industries are now struggling, we’ve seen a huge increase in demand for employees in the healthcare sector as well as an increase in demand for delivery drivers, shop workers and roles in other key areas. This is likely to continue over the next few months. People are no longer spending money on luxuries like going to the theatre or going on holiday. Until people start spending money on these luxuries again, the number of job opportunities in this area are likely to remain low.
Over the last few months, COVID-19 has devastated businesses and lives around the world. While efforts to stabilise the UK economy are now underway, we have seen a number of important changes in the makeup of the UK’s economic landscape. The above are just some of the ways that COVID-19 has accelerated a shift in business.
