Due to COVID-19 pandemic, almost everything around the world is on paused. The novel coronavirus has disrupted the strategic decision-making framework for every business. In Singapore, the circuit breaker has extended for another 4 more weeks till 1 June 2020. Companies reduce their financial forecast for this year, and leaders need to get ready to bounce and rethink their business strategy for the post-COVID-19 world.

The rapidly spreading COVID-19 pandemic caught the world by surprise. Many retail shops and restaurants have closed as everyone stay at home. Millions of people have lost their job. How 'patient zero' got infected and transmitted the novel coronavirus to others is still unknown.

After the circuit breaker, the lives' of humankind will change. The COVID-19 pandemic has impact everyone financially and psychologically. It could take months before we can resume living like our pre-COVID-19 lives.

In this fast-moving era, we need to think about what will be the likely business trends in the post-COVID-19 world. Let's look a look beyond COVID-19.

Remote meeting brings forth Virtual Reality

From remote working to yoga classes, virtual is the future. Meetings that were once thought that face-to-face interaction is a requirement can be done over Zoom or Google Meet. With the circuit breaker imposed, work has been stripped to bare bones. Employers are more comfortable with work from home as long as employees are accountable for the work delivered. Therefore, we are going to see more people working from home in the future.

Classes that were usually taught in person will offer an online elective for students. Students can stay at home and attend their lessons remotely. Events shifting online will be more cost-effective and reduce the risk of contact. The increase in online classes, meetings, work and events will spur growth in a key area of technology known as Virtual Reality (VR).

Virtual Reality will offer an immersive experience for people as they don't need to be physically there. The increase in demand for Virtual Reality will cause this technology to mature faster and bringing it mainstream at a lower cost.

Rise of robots and artificial intelligence (AI)

The demand for workers for essential services skyrocketed during the COVID-19 pandemic. As we are venerable to the virus, the need for social distancing leads to the demand for robotics.

Robots are the war heroes during our fight against COVID-19, and they have addressed the challenges posed by the pandemic. Robots are deployed to take vitals in hospitals and deliver food and medications to patients diagnosed with COVID-19.

Disinfection robots are capable of shredding the DNA or RNA of any microorganisms with the use of ultraviolet-C (UVC) lights. Drones are used for temperature screening to measure the body temperature and detect the key symptom of the coronavirus, fever.

The demand for robotics innovation has caused the request for artificial intelligence (AI), sensors and other robot building parts to be highly sought after. With support from robots, this technology will play an important role in the post-COVID-19 world or during a future pandemic.

Business travels will not be the same

The COVID-19 pandemic will not kill off leisure and business travel. But, it definitely changes the way we travel. Welcome to the new era of air travel. Business travels have always been taken for granted as a necessity. People need to meet in person to make plans, manage projects and close off the deal.

This crisis has proven that business travel can be considered as a non-essential activity. With tools like Facebook Workplace, Slack and Trello, most of the work and networking can be done online. Although some things are better to be done in person, spending hours in travelling around the world isn't entirely necessary.

Contactless interaction

We are impressed with touchscreens, but COVID-19 crisis has made us aware that every touch surfaces could potentially transmit diseases. Therefore, in the post-COVID-19 world, there will be fewer touch screens and more contactless interfaces.

Contactless payment like Apple Pay and GrabPay has been rolled out over the years. By using the technology like RFID or NFC, you can tap your smartphone or credit card and made payment for your purchases. There isn't a need for signature or PIN code.

The next technology that will likely to gain traction is voice control and facial recognition because there isn't a need for physical contact. Contactless technology will minimise human touchpoints and offer convenience and hygiene-centred ways.

Growth of eSports

With sporting events and musical cancelled around the world, eSports thrived during this stay home period. Twitch, one of the world's biggest streaming platforms for gamers, has a 24% increased in its viewership.

As more people are practising social distancing, eSports has been filling the place of usual sports during these difficult times. Regardless of which eSports people are watching, one thing for sure is there will be increased numbers of viewership until COVID-19 runs its course. Thanks to eSports, the socially-distant world now feels a little bit more connected.

Online shopping becomes essential for businesses

Businesses which do not offer an online option are facing financial issues, while businesses who had online capabilities ramp up their offerings. After the COVID-19 crisis, there could be a change in the shopping habits of consumers. Consumers will be more motivated than ever to stay home and shop online. Therefore, businesses will need to figure out ways to enhance online presence and services.

With the increasing demand for online shopping after this pandemic, logistics and delivery services will need to acquire better inventory and delivery system. This will help to meet the surge in demand for the future.

New retail and food experience

While you are staying at home, local delivery services have been increasingly important to deliver food and other perishable products to your doorsteps. By having a central location for retail and food distribution, this will improve efficiency and more cost-effective.

Retailers can consider using technology to make things safer and convenient for consumers, from end to end. Cooked food can be prepared in a giant "dark kitchen" centres where drivers can pick up in one location. The change in retail and food distribution will bring forth a new retail experience for the post-COVID-19 world.

Face masks meet fashion

Besides technology, fashion-ready face masks could become an accessory in everyone's wardrobe. This could potentially be an opportunity for the textile industry. Fashion companies will need to come out with innovative and creative ways to make face masks comfortable, stylish and protective.

COVID-19 outbreak has shaped our world

In comparison to the pre-COVID-19 outbreak, the post-epidemic phase will emerge a new consumer behaviour and trends. Businesses will need to be nimble and agile to adapt to the new world and re-strategise their business plans. Ramping up on digital transformation will lead to a more resilient business.

This pandemic has shown that humankind can be innovative, adaptable and resilient. The COVID-19 storm will pass and shine again after the storm. Are you ready to welcome the new world?

How AM Collective can help your business in digital marketing?

AM Collective is a branding and digital marketing agency born and based in Singapore. We are also a social media agency which also owns a group of digital properties.

Our clients include Huawei, NTUC Enterprise, Grab, Starhub, Junction 8, Capitol Singapore and CHIJMES, among others.

We make every marketing idea into reality for every business.

The article was written by Soon Koon.

8 Trends To Expect In Post-Covid-19 World