The unprecedented ongoing situation caused by COVID-19 has affected both our personal and professional lives. While countries are gradually relaxing lockdown restrictions, they are also encouraging businesses to start opening again by restoring people’s confidence in returning to their normal consumption habits. There are still concerns about the safety and health and the possibilities of regaining the rhythm of lives and livelihoods like the pre-COVID-19 days, says Marcus Debaise, especially regarding the global economy.
The pandemic’s impact on the large and small business sector has been devastating. Businesses have tried various ways to adapt to changing circumstances and listening to their customers’ concerns.
What is up in the Food Service industry? Marcus Debaise explains
The food industry has been one of the hardest hit by the pandemic. Many businesses have had to downsize their staff tremendously as they’ve turned to delivery-only service. Some companies that already conducted a majority of their business through delivery, like Pizza Hut, easily adapted to the new restrictions in place. As they had less hurdles to overcome, these companies pioneered the contactless delivery option.
Grocery stores, restaurants, and food services businesses have turned to delivery technology for survival; businesses that offer contactless delivery options will dominate the industry as the pandemic continues. Even Lyft, primarily a ridesharing service, has started offering the delivery of food and medical supplies.
HR Turn to Tech
Perhaps one of the greatest impacts COVID-19 has had has been the turn to working from home from the traditional office to ensure employee safety. While this adaptation has been beneficial for business continuity, it has been challenging for HR departments to adapt to this new dynamic.
Over the past few months, HR departments have taken the talent acquisition process online through conducting video interviews and onboarding. The demand for video conferencing platforms has reached a new high, and Zoom is leading the pack. In fact, since the outbreak of COVID-19, Zoom has doubled its share prices.
Fintech
As the global economy keeps reeling under the impact of the crisis, Fintech products have been safeguarding the finances for businesses and individuals. This has led to an increase in cashless, contact-free payments done online, a practice recommended by the World Health Organization.
Legal consulting
Legal consulting is usually done face-to-face, but consultants have gotten creative during this COVID-19 lockdown. Legal consultations are now happening online, as more and more consultants work from home. The lack of a replacement for an on-site consultant is sure to damage the sector, but otherwise there is little else that has been affected.