Brands across the board are reinventing strategies to bring back customers
In this dark cloud of COVID 19, knowledge dissemination has proved to be a silver lining. Many Insurance companies have taken step to address short-term challenges and Luxury cars like Mercedes-Benz is expecting on their Pre-owned cars to increase the sales rather only few goes for the newer one. At the same time, the smaller and larger businesses are busy in transforming their future growth by using cutting-edge technologies like AI, IoT, wireless and intelligent networks, as well as data analytics will position themselves for success and beyond.
Most of the business had realised that mobility and mobile devices are utmost important for business continuity. Small businesses must respond with full, reliable, always-available wireless access. It enables employees to stay productive even when they aren’t at their desks, and it improves customer service and goodwill. Both AI and machine learning enable computers to learn, predict patterns, and identify anomalies. The rapid invention from older IT to now IoT( Internet Of Things to Internet of Many things ,with the combination of internet-connected sensors and analytics)has revolutionised the business world.
A report shows, 44% of small business owners who use data analytics tools report increased sales. The data gathered from these devices can be mined and analysed for valuable business insights, resulting in increased efficiency, better customer and employee experiences, improved health and safety, and greater profits, It is on the brighter side but the darker side of the world no company speaks about it. At times these collected data become a huge headache for the companies to store and analyse, at the same time it becomes an opportunity for the companies into data mining, analytics and data curation business (Weaving Raw Data Into Business Gold).
One of the fastest growth SME sector is transforming Indian education, which is said to be the power driver of the economy and IPR. Education Technology in India is expected to reach $1.96 Bn by 2021. The advent of digital education system is going through a digital transformation. The journey of Edtech in India has created interest among many investor. However, the business focus areas of Edtech there are major challenges the industry is facing. The expenditure on education is rising, educational performance is still weak. Cost effectively improving the quality of education is the need of the hour, And edtech is an opportunity at the global level.
There will be a dynamic shift in the business and life style, we are going to witness, post COVID-19. Brands across the board are revisiting their strategies to deliver a sense of safety and trust amongst the larger community. Reason, the crisis will cause a long-term psychological shift in how we do things. This makes it imperative for marketers to lead with agility and adapt to change to win consumer’s trust.
Trader's body CAIT has urged Commerce and Industry Minister Piyush Goyal to make it mandatory for every e-commerce portal to mention 'country of origin' on each product sold at their platforms, so that buyers can make an informed decision. This will give a biggest shift for the e-commerce players as well as for the every Chinese brands starting from consumer, electronics, automobile, pharma, Mobile and e-commerce companies operating in the country.
Today, most of the world’s immediate concern is the basic needs of food, water, warmth, security (delivered digitally where possible). In the last couple of days, contactless or digital payments and contactless deliveries have gained prominence. Secondly, we are seeing the Foodtech companies delivering groceries during these times or SMBs taking to digital payments to grow their base.
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