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The Implication of COVID-19 for Businesses in 2021

Consumers have learned to do everything differently. Are the businesses ready to do the same?

It is clear that the COVID-19 pandemic has changed a lot for everyone in the past nine months and is likely to affect everyone's lives and livelihoods for years to come. What remains unclear is how much of peoples’ lives will be affected and how much of it will remain the same.

A report from the McKinsey Global Institutes predicts that e-grocery shopping is here to stay and is more than likely to be the new normal.

Interviews with prominent executives of large companies like McDonald’s and Unilever give interesting insights into the new state of the business world. McDonald’s, for instance, had to expand the number of locations that offer delivery to more than 30,000. While Leena Nair, the chief human resources officer of Unilever, described her strategies for caring for 150,000 employees. One prominent feature of the year 2020 for businesses is the fast-paced nature of work and business-related activities. Nair says that the business world's current speed, in general, is unsustainable and would have to relent at some point. This might come as good news to those in the workforce that have been working at extra-fast paces since the pandemic began.

Another major change is the pleasant surprises that many B2B companies have uncovered as they adapt online sales and other digital business techniques.

To learn more about the COVID-19 experience, you can download McKinsey’s briefing notes on the COVID-19 pandemic.

One business sector that has been changed for good is the consumer goods and retail sector. Consumer buying behaviors have changed, and the consequence is that these two sectors will never return to what they used to be. It is estimated that the costs of most consumer goods are likely to stay high for most of 2021 and maybe even beyond. A study of IT strategy by McKinsey Global Survey shows that more than half of the respondents said that technology transformations had increased revenue, reduced costs, and improved employee experiences in the past two years.

It is clear that the business world has been changed forever, and many of these changes are here to stay.

Health safety is a huge aspect of the new business world. Making sure the workspace is clean and hygienic at all times is essential. You can ensure this through regular cleaning and disinfecting of surfaces and objects like desks, tables, and keyboards. Professional disinfecting and sanitizing companies like SafeFromSpread can help you make the disinfection process comfortable and more effective.