Changing Behaviors
In a matter of only weeks, new online services and new ways of working have emerged. People are undergoing novel or more frequent online experiences, either as students, workers, or shoppers. Employers and staff may be discovering convenient modes of conducting business. As consumers, those who previously did not often shop online may have found a desired avenue for consumption.
Lasting Consequences
Will these emerging online use patterns remain when the health threat subsides? Businesses that value consumer behaviors are closely assessing this question. The answer likely lies in the pandemic’s duration. Though hopefully the end is in sight, the situation may linger for some months, leading new use behaviors to solidify into established manners of working or purchasing. The augmented digital experiences will consequently become more important to companies, especially in sectors like banking and hospitality. The more online-driven environment caused by the coronavirus will accelerate companies’ efforts to perform digital transformation.
As forms of consuming and conducting business continue to move and expand online, the pandemic may have ushered in a more digital world for good.
For additional COVID-19 Thought Leadership coverage and business resources from Miami Herbert Business School, click here.
