10 COVID-Accelerated Trends And 5 Big Business Implications

• Published date: 07 December 2021
• Subject Matter: Environment, Consumer Protection, Media, Telecoms, IT, Entertainment, Coronavirus (COVID-19), Environmental Law, Consumer Law, Gaming, Climate Change, Operational Impacts and Strategy
• Law Firm: AlixPartners
• Author: Mr Eric Benedict

In conversation with Keith Weed, former CMCO, Unilever

It was wonderful to see and hear the return of such energetic debate and discussion in its finest physical form at our recent Business Leaders' Dinner, much of it inspired by one of our special guests for the evening, Keith Weed.

As I explained when introducing Keith, we have known each other for nearly four decades, after both beginning our careers at Unilever. As we carved our different paths in the business world, we - and of course all of us - have witnessed incredible evolutions of the myriad business challenges that we have all had to contend with in the intervening years. However, at this moment in time, it feels like the disruptions to market dynamics have never been more pronounced, in many instances creating a perfect storm for so many organisations to navigate.

Keith treated us to a compelling curation of disruptive, accelerated changes that he has noted, catalysed by the impact of COVID-19, allied to a handful of key implications we would be well advised to keep high on our agenda as we move into 2022:

10 changes catalysed by COVID-19:

• The step change in digital interaction: Device ownership and digital savviness has leapt forward immensely in the past 18 months. Whether that be the resurgence of the QR code online classes, gaming, video calling, live chat, and messaging. If it was possible, the role of mobile has got even bigger, arguably cemented as an innovation that, in some ways, is bigger than the internet itself.
• The seismic change in commerce: If you lock everyone up and you tell them they can't go shopping, then, by definition, something's going to happen. Beyond the headlines of exponential Amazon growth other evolutions have emerged that may stick for the long term - reengineered packaging for online purchase and delivery, the growing influence of online (and largely faceless) reviews and recommendations, and a truly cashless customer journey, which all essentially amounts to a better online experience for consumers.
• Enhanced connectivity: The proliferation of new, interconnected devices is creating brand new consumer touchpoints and a wave of additional data about not just what people are viewing, but what they are doing. As 5G ramps up, there is a huge opportunity to harness the power of the rocketing ownership of smart devices - and it is just around the corner.
• The pandemic data explosion: More and more data are being created, stored and shared, with consumers increasingly...