Signs in the UK that there is demand for even more online. From food to online services to fashion people still want to shop but online from a distance. Major retailers are ramping up their online shopping and delivery services. Many are employing thousands of more staff to cope with demand.
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The coronavirus will hopefully pass. It could morph into something worse or less bad. Even if it does not burn itself out the human race will take months to find a vaccine in sufficient quantities to control its spread. Even when the G20 countries have it relatively under control they will be repeatedly be reinfected from each other and less well developed countries as people start to travel again.
Make no mistake one way or another the coronavirus will have long lasting effects on businesses and the global economy. This will totally change how we do business forever. Sure people will return to shopping in High Street shops but the proportion of retail shopping completed online will jump.
Furthermore consumers and business leaders will access more of their services online. More communication than ever will be arranged online. There will be less desire to travel for face to face meetings. Business leaders will become more used to online meetings and realise its better than wasting time travelling. More training will be arranged online. There will be many benefits including protecting environment saving money and saving the most valuable thing time.
Such enforced changes in business practices will usher in the 4th industrial revolution even faster
The 4th industrial revolution was accelerating before the coronavirus. COVID19 will turbo charge it.
- Jobs will become obsolete even quicker
- Opportunities to innovate will come faster
- Technology will advance more rapidly
- Minds will be more open to change
- Consumers workers and business leaders will be hungry for something better than what we put up with precoronavirus
- There will be a bigger demand for faster internet speeds including 5G and increased supply
Now that we have been forced to take time to think about everything differently what will you do differently to ride the 4th industrial revolution wave ahead of your competitors?
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