The year 2020 has caused many disruptions and has changed the way of life for every individual around the globe. Some of these changes have altered the way we think and function such as the experience of shopping, watching movies, concerts, and any other sporting events, etc. Few of these trends that are likely to continue even post-pandemic are the following:
- Hygiene: Overall awareness towards handwashing has dramatically increased in the pandemic and it is going to continue even in the long-run. This has uncovered a new product category of sanitizers with different variants and types, each having different usage.
- Buying Experience: The experience of shopping and buying things has transformed in the year 2020. The focus will be towards making the entire experience of shopping contactless and this will give rise to a contactless economy.
- Health and Well-being: The pandemic brought everybody’s attention towards health, which remains a neglected area for the individual as well as the government. There will be a shift in approach from curative to preventive and people will give focus on overall well-being. Government spending on public health will also increase.
- Minimalistic: All of us have learned to live with constraints during the pandemic. The frugal way of living with things that you need rather than impulsive buying will continue even post the pandemic
- Blurring lines of Workplace: Pandemic was an opportunity for organizations to realize that the old ways of functioning may not have a place in the new world. It gave rise to the concept of work from anywhere which now many organizations are adapting as a long-term strategy. This helps in reducing cost and making the organization light and focused on the real business opportunity.
- Entertainment: Digital consumption of content through OTT platforms increased drastically in the pandemic with several commercial movies release on the OTT platform instead of theatrical release. The small budget and movies of independent director will continue to be released on the OTT platform instead of a theatrical release in the post pandemic world.
- Technology: Technology has been one of the biggest enabler and gainer for the year 2020. Going forward companies will increase their investment in futuristics technology such as AR, VR, IOT, Cloud computing, web services and video-conferencing platforms in providing wow experience to the consumer and employees.
By: Sanghamitra Sharma