What’s ahead in the second year of Covid-19?

‘When COVID-19 began its insidious march across the globe more than a year ago, it disrupted every industry and forced fast innovation as business leaders worked to adjust to a new world order. Last year, in Wharton’s Fast Forward video series, several of the School’s faculty offered their insight into what the second half of 2020 would look like during the pandemic. That insight is needed even more this year as the ground keeps shifting, vaccines are rolled out, and new coronavirus mutations emerge.

‘Much has changed since the start of the pandemic, from consumer behavior to health care delivery to working from home. What changes are lasting? And what lessons have we learned? We’ve asked some of our faculty to analyze what’s in store for the rest of 2021. Their responses appear below:

• Will working from home become permanent for nonessential employees?
• What’s the outlook for the stock market and the economy this year?
• How will the pandemic continue to change the delivery of health care in the U.S.?
• What crisis management lessons will business leaders keep going forward?
• What changes in retail and shopping will become permanent?
• What is the future of the gig economy in the U.S.?

Read here (Wharton@Knowledge, Mar 8, 2021) 

MCO 2.0 wipes off 90% of retail business volume

‘Malaysia’s second round of the Movement Control Order (MCO) has dimmed any hope of recovery for the local retail scene. Bumiputera Retailers Organisation president Datuk Wira Ameer Ali Mydin said retail businesses have dropped about 90% during the first week of MCO 2.0 compared to before it came into force on Jan 13.

“Although shopping complexes are allowed to open, the retail sector is taking a drastic hit. People are not coming out to shop despite strict standard operating procedures (SOPs) in place. Also, the number of Covid-19 cases which has been increasing tremendously day by day has affected consumers’ confidence,” he told The Malaysian Reserve (TMR).’

Read here (Malaysian Reserve, Jan 22, 2021)

8 ways Covid will transform the economy and disrupt every business

‘In this report, we look at eight major trends underway in the world, and pinpoint the possibilities for savvy business operators, investors and innovators. We all know how much our lives have changed, and how we’re not likely to go back to our old ways. We’ll be more cautious but we also may be more creative. As history likes to remind us, with unprecedented times come unprecedented opportunities.’

Read here (RBC Thought Leadership, May 22, 2020)

How the pandemic is changing shopping

‘Across the country, stores are reopening to a changed reality. Retailers that have spent years trying to get customers to linger, in hopes they’ll buy more than they need, are reimagining their stores for a grab-and-go future filled with deliberate purchases. Gone, they say, are the days of trying on makeup or playing with toys in the aisles. The focus now is on making shopping faster, easier and safer to accommodate long-term shifts in consumer expectations and habits.’

Read here (Washington Post, May 21, 2020)