Marketing 0

Case Study: COVID-19 as the Digitalization
Accelerator
Global businesses have taken a hit due to the COVID-19 outbreak.
Most companies are not ready as they have never faced such a
pandemic. Every company seems to struggle with revenue decline
and cash flow problems, all while managing employees who are
personally hit by the outbreak. Companies may find themselves in
the middle of confusion and dilemma to determine the right
contingency plan to survive and even come back stronger.
The pandemic—and the social distancing it triggers—has pressed
businesses to become more digital faster. During lockdowns and
mobility restrictions around the world, customers were becoming
more dependent on online platforms for their daily activities. We
believe that it has changed the behavior not only during the crisis but
for long after.
As customers were forced to stay at home for several months, they
indeed became accustomed to the new digital lifestyle. They relied on
e-commerce and food delivery apps to buy daily needs. Digital
banking and cashless payment rose in volume. People were meeting
others online through videoconferencing platforms such as Zoom
and Google Meet. Children learned through online platforms at
home while their parents worked from home. To kill time, people
streamed more videos on YouTube and Netflix. And since health
became of utmost importance, people connected with personal
trainers or doctors remotely (see 
Figure 5.1
).

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