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Post Coronavirus Business Trends
The year 2021:- New Normal & new trends!!
In April 2020, New York time said, “Start-Ups Are Pummeled in the ‘Great Unwinding” well this statement has not been turned out to be entirely true after the introduction of WFH measures. While traditional business such as the tourism industry faced heavy recession e-commerce industry faced a sudden surge in demand.
New Trends that are likely to be continued during the year 2021!
Modern technology such as the Internet has made work easy for both the employees and employers. A company are now hiring the best person suited from their jobs from around the world. Business owners and leaders that used to be hesitant about allowing employees to work remotely now have a better knowledge of their employees.
Truly, the pandemic has taught businesses that even with restrictions, efficiency and productivity can still be achieved but remote working is still young. This scenario will likely continue to make a mark in the tech start-up industry in the years to come. Businesses will slowly make working from home their new normal.
“The most valuable asset on this earth is Trust”, Many people had a popular belief for relating online stores to fraud and lack of customer support. Due to pandemic, the focus shifted the e-commerce industry has worked heavily on maintaining the privacy of the customers and gaining the trust of people by introducing 24X7 support and by employing right people to focus on grievances of the customers.
In 2021, customer service may still be a major concern for most tech start-ups whereas It is hoped that the global health situation will significantly improve. As such, the utmost priority will be on providing clients and prospects all the assistance they need. At this point, there will be several businesses slowly getting back on their feet. Some travel startups will start receiving new bookings, although the volume and traffic would still be nowhere near pre-COVID.
Introduction of new modern technology
Last year we have seen the use of robots in China to deliver food and medical supplies to their Frontline workers. AI or artificial intelligence has been popular among the tech industry for years, but its presence significantly increases in 2021 and the coming years.
Businesses are still quite hesitant to integrate AI into their current systems, it will soon be a common factor in the industry. There are indications that 10 years from now, machine learning and AI integration will help tech start-ups compete with larger, more established companies. Grocery e-commerce almost doubled in 2020 and also now since been accelerating at a rapid speed to help meet the future growing demand as we head into 2021.
High growth rate among all business sectors!
First, three-quarters of 2020 of the economy of all the major countries of the world have shown a great downfall in the economy. It was the fourth quarter when the economy started to revive and showed a bullish trend ever since.
Recently Dow Jones (stock exchange of USA) & Sensex (Stock exchange of India) has achieved lifetime highs. Despite having a numerous hurdle this shows that sentiment of the stock market is positive and higher records are awaiting for the world in the years to come.
This is likely to continue this year also with a pinch of pain in the name of Covid. Business sectors such as e-commerce and healthcare are expected to increase two-fold whereas the sectors such as tourism and infrastructure are expected to increase but with a lower rate.
Many of these startup trends will grow tremendously in 2021. It’s just the beginning and 2021 will be an exciting year for startups, especially after a bad year. Even with many startups that were forced to crash due to Covid. We have seen opportunities in many other areas, making it an exciting next few years.
Tech start-ups will continue to hog the industry limelight next year and, in the years, to come. However, to ensure efficiency, sustainability, and success, adjusting to expected changes and embracing trends should be a priority.
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