5 Ways COVID-19 has Changed the Rules of Businesses

5 Ways COVID-19 has Changed the Rules of Businesses

The coronavirus pandemic has affected many businesses of various industries worldwide. For starters, it has forced retailers to transform at a full speed. In just a short time, many businesses have implemented contactless transactions. Online shopping and e-payments have played a fundamental role in people’s daily lives. New health and safety protocols were established. For retailers, eCommerce has become the key driver of revenue and success. Despite the promise of the COVID-19 vaccines coming closer, we can all agree to the fact that some of these changes are here to stay

List of 5 Ways COVID-19 has Changed the Rules of Businesses

List of 5 Ways COVID-19 has Changed the Rules of Businesses

Here are 5 ways the COVID-19 pandemic has re-shaped the business industry and what we can expect moving forward.

  • Less business-customer interaction

Reducing the risk of transmission is one of the main priorities of many business owners. To prevent the spread of the COVID-19 virus while at the same time, providing a positive customer experience, companies have implemented various types of customer interaction solutions. 

Most startups have decided to separate their cash registers to customers, in the hopes to lessen staff-customer interactions. Bigger companies, on the other hand, are taking advantage of technology by opting for digital and self-service solutions. 

What’s more, automated cashierless stores such as that of Amazon are now becoming more and more popular as it can help reduce the interaction between the staff and the customers. Amazon Go stores feature overhead cameras and computer vision technology, allowing store owners to monitor both the shoppers and items in the absence of a cashier.  

  • More remote work

One of the biggest lessons most companies have realised during the pandemic is that businesses can survive in a fully remote working environment. With this, more and more businesses have gradually created remote work setups. 

Among the list of benefits remote work can offer, the most undeniable advantage is that it’s cost-efficient. Just think about the travel, hardware, utility costs associated with office working. Along with these, remote working can also increase employee satisfaction, employee engagement, thus, leading to better productivity and efficiency. 

  • More touchless and contactless transactions

To help lessen the spread of the COVID-19 virus, businesses are now implementing low-touch and no-touch payments through the use of mobile wallets and ePayments. Although these forms of payments already exist even before the pandemic hits, not everyone realise how useful these systems are.  

Apart from this, companies have also adopted the use of QR codes and chips to provide product information without the need for customers to pick up the product. Customers can easily scan the QR codes that can be found on the item or the shelves, allowing them to look at product information such as the list of ingredients or materials, usage and product benefits. 

  • Emphasis on air quality and safety

From the traditional brick and mortar stores that are usually located in an air-conditioned space with hundreds and thousands of items inside, businesses are now gradually putting emphasis on air quality and safety. More and more shops are now moving outdoors. For restaurants, they call it al fresco dining.  

Unfortunately, running a business outdoors is not for everyone. For companies that are stuck on the use of traditional spaces, advanced filtration and specialised HVAC systems can be of great help. 

  • Implementation of social distancing

Unlike traditional brick and mortar stores that are designed to drive customers inside, companies operating during the pandemic are taking necessary actions to make customers’ shopping trips as fast yet as satisfying as possible. For starters, businesses are designating multiple entrances and exits to prevent people that are coming and leaving from getting into each other’s ways. Companies are also putting clear markings on walkways to help manage the flow while items are kept at the necessary distance to keep prevent overcrowding. 

Aside from adhering to the safety standards due to legal reasons, companies are also implementing proper social distancing in order to ensure their customers that it’s safe to visit their stores. 

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