The COVID-19 pandemic has brought about significant changes in business models and consumer behaviour, as well as altering the ways and the geography many of us live, work, study and play. Understanding what changes will stick after the pandemic recedes can help economies, companies, and even individuals effectively plan for the long term and better prepare themselves for any future shocks.
THE COVID-19 PANDEMIC HAS TRIGGERED AND ACCELERATED SHIFTS IN ECONOMIES AND CONSUMERS
The economic, business and consumer landscape of the future will be characterised by digital transformation, globalisation reset, new ways of working and learning, and shifts in consumer priorities and preferences.
Diversification, digitalisation and sustainability are the evolving trends that will shape future global trade and investment. Meanwhile, global manufacturing will become more people-centred and less geographically-concentrated.
Not only have we all been working and learning remotely, but more of us also need to switch occupations, which necessitates life-long and online learning as well as new ways of working.
Consumer lifestyles will be home-centric and digitalised, with a greater focus placed on wellbeing and social and environmental responsibility. This will impact all aspects of consumer life, including their decisions on where to live and transport choices.
Companies need to put people at their core, embracing inclusive, collaborative and sustainable strategies that focus on the needs of not just consumers, but employees, suppliers and communities alike.
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