Thursday, 26 Mar 2020 08:23 PM MYT
Even religion is getting into the act, with pastors broadcasting their sermons online from empty churches. Football, hockey, basketball, golf, horse racing, major city marathons, and the Olympics are cancelled. Many events have just been responses to the crisis. However, some changes are here to stay, and have led to new sets of consumer habits.
As the crisis has progressed, those with common ailments have begun to switch their appointments to their cellphone cameras. Likewise, restaurants in many locations have been forbidden to have dine-in customers, causing them to move to takeout. Video online streaming has been with us since YouTube. The crisis is giving Netflix financial viability.
It’s time for business owners to re-imagine their businesses within the new environment. There is a need to rapidly innovate to survive.