We know that the global pandemic has changed many ways in which we function. This includes communicating, conducting business and even consuming. With this shift, we’ve been forced to find creative ways to support many day-to-day activities, both as consumers and business operators. Brick and mortar operations have had to completely reconstruct their business model, the online outlet has become the number one shopping platform and BPO (Business Process Outsourcing) companies have increasingly stepped in (and stepped up) to manage areas that require in-office / in-person capabilities.
At the onset of Covid-19, we saw a global pause in consumption, followed by a slow resurgence as consumers began to find their footing again. Many sectors, such as service, travel and event industries were impacted particularly hard and continue to struggle. Although global vaccine programs are starting to turn the tide, businesses are still required to make systemic changes to keep their metaphorical doors open.
Going Digital – No Longer a Choice
We’ve experienced a digital revolution that is likely here to stay and forever shift the way we do business. From eHealth to ecommerce, remote offices and predominantly online operations – we’ve learned that there is very little that can’t be achieved from behind a computer screen. In most cases, the digital consumer model is not going anywhere, as evidenced by the fact that in July 2020, online retail sales in the US accounted for 33% of total retail sales. In other words, the first 6 months of 2020 witnessed a jump in ecommerce that was equivalent to the previous ten years.
The world as we know it has transformed – so what can we expect moving forward? What does this mean for SMBs and post-pandemic consumerism?
“Revenge Spending”
One dynamic that businesses must prepare for is a post-pandemic uptick in spending activity, which has already begun to surface. ‘Revenge Spending’ is a term that is showing up more and more frequently across various industries, as we ease back into this “new normal”. It refers to the deprivation that consumers have felt over the past 14 months and is an interesting phenomenon that has been observed historically in previous global crises. Revenge spending seems to be a way for people to reclaim their lives and make up for lost time. In the case of today’s Covid-19 pandemic, smart businesses are already ramping up their efforts in catering to eager spenders. This might involve restructuring online activities, e.g., DTC (Direct To Consumer), which would essentially bypass suppliers. It may also mean creating an online shop that perhaps didn’t exist pre-pandemic. Or maybe it simply means revamping and/or streamlining the online buying experience offered by your business to attract a wider customer pool and maintain the current one.
The Online Office & Outsourcing
Remote working is one trend that has had an enormous effect on the cost (and future) of doing business. Numerous companies have had to close their physical doors and expand or create online offices. In many cases, it is not possible to sustain certain departments in a work-from-home setting (perhaps due to a lack of equipment, technology or budget), creating a greater need for alternatives like outsourcing. BPO companies like Anexa, that focus on maintaining a pool of talented, highly trained personnel – can be an attractive option to replace departments that can no longer function efficiently from your business address, or from a remote / home office.
Customer Service in Spanish – Yes, It’s Important
While we’re at it, let’s talk about another emerging global dynamic. The world as we know it is shrinking – we’re become more connected and accessible to each other. Language diversity matters like never before. North America has built its economy on multicultural, multilingual consumerism, and right behind English comes Spanish. According to the 2017 American Community Survey, Spanish accounted for a whopping 41 million of the population. If you don’t offer your customers an option to communicate in their first language, you’re already behind your competitors. Anexa can bridge that gap seamlessly, skillfully and organically by integrating forward-facing customer services in Spanish into your business process.
One thing is a given. Stimulating post-pandemic business growth will require a heightened embrace of technology and a well-trained workforce – which is exactly what Anexa can bring to the table. Our customer-centric services are reinforced with state-of-the-art technology and techniques, as well as a full team of experts in Customer Experience and expansion.
We can support your business in its reinvention and post-pandemic strategy. Reach out today.