Every recession has presented numerous challenges for each country, making it difficult for industries to survive and strive, but it has also marked the beginning of an era of opportunities for new-age industries to grow and shape consumer behavior.
Driven by COVID-19, the global recession will radically change the way society operates, and socializes, for years to come. The COVID-19 crisis will act as a catalyst for unprecedented changes in every sector. Each industry will be forced to reform and restructure to transform into the emerging new realities.
The following three factors will drive each industry’s transformation:
Agility:
Agility should be about making quick improvements through the leadership of the company and transmitting the same clarity to the enterprise, the partner communities, and the clients. It will be built on insightful planning that sets the playbook of a new template for execution that did not exist before.
Digital Transformation:
It’ll be about exploring the possibilities of the cloud , big data, analytics, AI, IOT, and others starting to emerge realities that shape a new wave of consumer behavior. This transition will drive the end goals of business sustainability and productivity, stakeholder interest, and customer satisfaction.
Work From Home Culture:
The ideology of “Work from Home” will take a prominent role, has the power to “STOP” this epidemic and is a trillion-dollar business.
E-Payments
Global technology use and greater internet penetration would propel this market to a fast double-digit growth rate. Governments around the globe will continue to take digital payment promotions initiatives. Through ‘Digital India’ projects India is set to create numerous job opportunities.
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