Several changes occurred in the business landscape during the COVID-19 pandemic. For instance, many people have always had the technology and gadgets to aid their daily lives. But the need for it has become even more rampant during this new normal. With individuals staying home most of the time due to lockdown protocols, technology has become our primary avenue for purchases, entertainment, information, and especially communication. These are just some of the trends that have surfaced during this challenging crisis the world is facing. In the following, you’ll learn some of the most prominent business trends to watch during the pandemic.
Digital transformation
Based on a survey conducted with mid to large-scale companies in the United States, the average digital transformation of $18 million in 2018 is expected to reach $1.78 trillion during 2022. Also, at least 89 percent of companies have adapted to a digital-first business strategy. Or at least, they plan to do so. Since the pandemic hit, there has been a rampant increase in the adaptation of digital transformation. Many saw this transformation in a marketing sense or another aspect entirely. Whether multinational or startups, businesses are beginning to realize the impact of using digital tools and software for brand exposure, customer service, marketing strategies, and even business performance. Digital adoption has taken a quantum leap in the business sector’s industry and organizational levels since the pandemic hit. Brands and businesses seem to follow as consumers have moved to online platforms.
Remote work
One of the most prominent trends you can observe as businesses adapt to the new normal is the shift to remote work. Companies had to make their work environment safer for their employees by advising everyone to work remotely. After all, companies are also gradually realizing they can function in a remote setting. Companies that have contributed to employees’ setups, particularly for industries where technology and software are required to be provided, these setups are likely to be here to stay even after the pandemic. A study was conducted where they analyzed the potential behind remote work, and results showed that 20 out of 25 percent of employees in advanced economies could continue working from home after the pandemic. Of course, remote work has its pros and cons both from the perspective of the management and employees. However, it continues to persist even years after the pandemic first hit.
Outdoor spaces
The home renovation and decor industry have always been a significant industry, even more so during the new normal. As individuals shift into remote work and freelancing, your home should feel nothing less than a sanctuary. Outdoor spaces such as garden views, front porches, and patios can be helpful when there’s a gathering in your family or when you want to unwind in a different but refreshing landscaping design just outside the typical four walls of your home. Not to mention, research has proven that outdoor spaces have less risk of an individual being infected with the COVID-19 virus outside rather than inside any establishment or property. So outdoor spaces have been one of the trends you can observe in the new normal. Even school establishments and universities are doing this for their students as an alternative for face-to-face classes.
Work-life balance
As businesses have adapted to remote work, it’s easier to control your time so that work hours won’t consume you daily. Since employees and even managements are working from their own homes, making it easier to have a life outside your chosen career. Whether it’s spending time with your family, going on vacations, unwinding between work tasks, or taking a break, it’s undeniable that remote work has its perks. There are even companies that offer the best of both worlds where they only let employees go into the office a few days a week or month, and the rest is remote work. The trend of remote work is here to stay. And companies have been adjusting and observing how to incorporate this, even when the pandemic is over. Due to the remote work trend, achieving a better work-life balance and avoiding burning out has been on the top of everyone’s mind.
These are just some of the aspects you need to know about the existing and recurring prominent business trends to watch out for during this pandemic. Some of these trends are here to stay, given the significant impact they’ve made on the world. What started as a trend to make things safer from the virus ended up valuable and efficient.
