In modern days, the crises becomes a synonym of regular life, as we experienced the long-lasting lockdown, which led to roughly managed social and economic changes. The press often presents a time of downturns as a crisis, a matter that inevitably will lead to drop in incomes and decrease in social standards. Actually, should the crisis always be associated with the drop-downs? It is the matter of fact, that it is, actually, a new opportunity. If you look at it from a historical perspective, the times of crises were the ones when people re-invented new products, found more creative and more sustainable decisions.
A New Era Of Virtualization
Bringing attention to the most recent crisis, it has become the most unprecedented in many years. Financial crises of the XXth century did not hit the social well-being, as much as the pandemic. COVID-19, actually, led to one more change for business entities – it fostered the phenomenon of virtualization. It is a general term that we can use to any products, services, user experience that is not more real, but virtual. This phenomenon was caused by lockdown that led to enormous changes in the consumer behavior. Customers go to the shops less, rather giving a preference to purchase from home. Companies have to digitize the internal workflow to manage people who work from home. Now, are these all symptoms of crisis, or rather an opportunity?
Sales And Customers Experience
If to think about it profoundly, virtualization and businesses offering the vast majority of products online led to the shape in income statements of many companies. Sales from online stores are increased, while many of physical shops are closing. It means that during the lockdown more people mastered buying online, even if before they preferred to buy in a physical store. So, should businesses long for the days of normal, or rather adapt and find in this new virtual reality a place to grow? It is the matter of putting marketing knowledge and managerial skills to make virtual commerce work and generate not less cash than from in-store sales. Each crisis sends us a signal that we have to re-think the given and move forward to build a more stable future.