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Business After COVID: How Companies Should Brace For It

Photo by Yaroslav Danylchenko from Pexels

Right now, COVID-19 has had a big impact on just about every aspect of American life. A massive portion of Americans are working from home and getting accustomed to video meetings and new workspaces. Newer methods of shopping — like contactless and curbside pickup, mobile payment, and delivery services — have all quickly become normal options. And while in-person sales are down, online sales are up significantly. 

Average income is down for almost everybody and demand has quickly shifted. Luxury purchases — with a few exceptions, like skincare, hair care and makeup products — are down, and demand for food items and household goods are way, way up.

These changes are not expected to last forever, but it is likely that things will not ever return to business-as-usual. Instead, we are probably headed for a new normal — a future that is somewhere between the present and the world pre-COVID.

Here is how the crisis is likely to change the American economy, and how companies can prepare for business after the COVID-19 crisis.

Topics: Business Planning Business Trends

Is Online Shopping Really Better than a Brick-and-Mortar Experience?

The rise of the internet makes it easier than ever for people to get the things they want or need simply by going to a website and placing an order — often receiving their merchandise the next day or even in a matter of hours. However, despite the convenience of the on-demand economy, I was curious about whether buying things online is genuinely better than shopping for stuff in a store.

I am an avid shopper and split my time between buying things in stores and online. Not long ago, I needed to buy some specific items and thought the circumstances presented perfect opportunities to figure out the best way to shop.

I decided to pay attention to my experiences with both options and use the outcomes to determine which one I preferred. The news coverage of how many brick-and-mortar stores are shutting down was another factor that sparked my curiosity. Do online stores spell doom for physical stores in all or most cases? Let's find out based on my shopping spree.

Topics: Marketing Ideas Customer Service Business Trends