A Post-Pandemic World

Event Africa Contributor 12/08/2021 Best Practices

The global pandemic has in many ways re-shaped how economies and consumers operate. It’s more important than ever for businesses to understand and adapt to changing consumer priorities in order to stay relevant. Euromonitor International is a syndicated market research database that provides detailed data and analysis on industries and consumers.

On 27 July, Euromonitor held a webinar to discuss what life would be like beyond the global pandemic. The session explored how societies, economies and industries will function in a post-pandemic world and how they will shape future strategic planning.

One of the speakers, An Hudgson, the income and expenditure senior manager at Euromonitor focused on identifying drivers that are shaping the new world. To mention a few; among these were technology changes, globalization reset and shifts in consumer values. “Opportunities await for those businesses that can diversify, adapt and innovate. Companies and individuals need this in order to build resilience, stay relevant and competitive in the post covid world,” says An Hudgson.

The conversation further detailed discussions on how to understand the ways in which the pandemic has changed consumer priorities, globalization and education. The pandemic has accelerated the ways in which consumers behave throughout every aspect of their lives and businesses now need to keep up with these new and changing consumer demands.

The pandemic has also led to us seeing the switch of jobs being for life to education being lifelong. What this means is that previously individuals had one job for life but with covid-19 bringing so many job losses; individuals are taking on the ‘portfolio career’. Switching occupations or having more than just one job, the pandemic has sped up the pace of change in work and education.

According to their research, Euromonitor International has four main strategies on what it is going to take businesses to win in the post- pandemic world:

  1. Businesses need to become flexible and agile
  2. Businesses need to accelerate the shift to digital
  3. Businesses need to be people-centric
  4. Businesses need to become more sustainable

For more information and to watch the webinar, visit: Euromonitor International