COVID-19’s residual effects could last for the next two years.
This article notes that businesses identify changing commerce trends brought on by COVID-19 and adapt accordingly are more likely to withstand the decade. Businesses will look towards being local, as dealing with the pandemic becomes a national cause and slows down globalisation for the near future.
B2B online commerce is likely to accelerate, as businesses scramble towards adopting digital commerce in the wake of the pandemic. Digital transformation within B2B organisations could further be fast-tracked to two years or just months, rather than the five to ten year plans.
The use of robotic and automation tools in the manufacturing and service industry will be accelerated, leading to a decline of workforces rapidly. With an uncertain environment, expenses of management cost along with debt will most likely be decreased.
[2 minute read]