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St - customer and commerce in the age of covid19

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The deployment of robots as a response to the coronavirus was rapid. They were suddenly cleaning floors at airports and taking people’s temperatures. Hospitals and universities deployed Sally, a salad-making robot created by tech company Chowbotics, to replace dining-hall employees; malls and stadiums bought Knightscope security-guard robots to patrol empty real estate; companies that manufacture in-demand supplies like hospital beds and cotton swabs turned to industrial robot supplier Yaskawa America to help increase production.

Companies closed call centers employing human customer-service agents and turned to chatbots created by technology company LivePerson or to AI platform Watson Assistant. “I really think this is a new normal–the pandemic accelerated what was going to happen anyway,” says Rob Thomas, senior vice president of cloud and data platform at IBM, which deploys Watson. Roughly 100 new clients started using the software from March to June.

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St - customer and commerce in the age of covid19

  1. 1. Customer & Commerce in the Age of COVID-19 CX was the key differentiator in the sea of brand sameness. Now, the challenge is not just to stand-out, but to swivel, innovate and transform.
  2. 2. Customers are nostalgic for a time when they could simply live their lives normally, without the new strain COVID has caused on daily life. The Coronavirus Pandemic will have a lasting impact on the state of the customer. Customers have lost loved ones, jobs and businesses. Even when life has somewhat returned to normal, people are hyper- aware of getting sick from every day activities in the past they took for granted.
  3. 3. “The Future Is Here COVID-19 has accelerated the infiltration of technology! COVID-19 has empowered the touchless digital customer— encouraged telehealth by insurance companies, efficient supply chain for deliveries of all kind, generous corporate donation programs and a glimpse of a planet without pollution. COVID-19 has exposed how ill-prepared governments are to deal with global disasters source: Forbes But It’s Not Evenly Distributed”
  4. 4. A change in our behavior. When we return to normal, it won’t be quite normal.You will have to know your customer’s comfort levels with all live interactions. For example, without a vaccine, shoppers will be less likely to want to try on makeup from shared sample products, or to try food samples at stores. "They might want clothes to be disinfected between try-ons, or need to be reassured that touch screens are cleaned frequently."
  5. 5. COVID-19 left millions without jobs, sent billions into isolation and forced nearly everyone on earth to grapple with the feeling that they or those they love are suddenly physically vulnerable. source: CNBC Suffering Societies What now? 1
  6. 6. 18% of people have a family member or friend whose health has been impacted by COVID-19, including 5% whose family member or friend died of the disease source: USA Today distress despair disappointment anxiety 18-24 year old are most anxious - 32.7% source: Prosper Insights 18-24 year old are stressed about money - 32.4% source: Prosper Insights
  7. 7. A third of Americans now show signs of clinical anxiety or depression, Census Bureau finds amid coronavirus pandemic source: Washington Post “People are really afraid,” Talkspace co-founder and CEO Oren Frank said. The increasing demand for services, he said, follows almost exactly the geographic march of the virus across the United States. “What’s shocking to me is how little leaders are talking about this. There are no White House briefings about it. There is no plan.” Google searches for ‘panic attack,’ ‘anxiety attack’ hit all-time high Social isolation and social media go hand-in-hand Generation Z (adults aged 18-22 for the purposes of this study) say they are the loneliest generation and claim to be in worse health than older generations. source: American Journal of Preventive Medicine source: Cigna
  8. 8. Why should I buy from you? Customer Trust 71% say if they perceive that a brand is putting profit over people, they will loose trust in that brand forever. source: Edelman Trust Barometer 2
  9. 9. Only 39% believe business is doing well or very well at protecting their employees' financial wellbeing and safeguarding their jobs source: Edelman Trust Barometer Only 38% percent believe business is doing well or very well at putting people before profits source: Edelman Trust Barometer Only 38% believe business is doing well at helping their smaller suppliers and business customers stay in business by extending them credit or giving them more time to pay source: Edelman Trust Barometer
  10. 10. Online shopping will be ongoing. Consumer plan to be cautious, even when the spread of virus subsides — with major implications for social and economic recovery source: Forrester Consumer Spending Now 3
  11. 11. 65% are currently postponing puchases and travel, and 52% intend changes to their buying behaviours to continue. source: Prosper Insights and Analytics 34% are postponing major life decisions, and 26% will take planning for major life decisions more seriously. source: Prosper Insights and Analytics 27% are currently saving more than they normally do, and 26% plan to save more in the future. source: Prosper Insights and Analytics
  12. 12. What brands can do? Employee Expectations What they expect? 36% of those working from home said they would like to do so after the pandemic is over. Men 40.7% and women 32.5% source: Prosper Insights and Analytics Investing in "work from anywhere, anytime, on any device" model and putting best practices like these in place benefits brands in periods of crisis. source: Autodesk 4
  13. 13. According to the founder of Microsoft, companies will begin to question much more the fact of taking a trip "just to discuss things", so it is likely that traveling for business will cease to be common."We will continue to go to the office and we will continue to do business trips, but much less," said the billionaire. In October 2020, his tech company announced to its employees that they could work from home permanently for at least 50% of their working hours. How We Work "30% of office life will disappear." source: Bill Gates "Business trips will be reduced by more than 50%" source: Bill Gates
  14. 14. Get ready to patner with your robotic co-workers. Speeding Adapting to Digital Transformation Brands that excel at customer experience (CX) are investing in methods to centralize analytics and decision making approaches and scale them exponentially, across all connected channels. source: Pega 5
  15. 15. Robots are awakening.Tech is hiring. 13% increase in average utilization of brain powered robots increased since January 2020 in retail locations. e.g floor scrubbing robots in Walmart. source: BBC Facebook, Amazon, Google and Apple are all hiring tech jobs including engineers, data scientists, software designers and cybersecurity experts. source: CareerBuilder
  16. 16. “This pandemic source: Daniel Susskind Author of A World Without Work: Technology, Automation and How We Should Respond. Machines don't need to isolate to protect peers.has created a very strong incentive to automate the work of human beings.”
  17. 17. Business Sectors thriving amid COVID-19 6that are source: Capital IQ, Financial Times
  18. 18. 1 2 3 4 5 Grocery Stores, Liquor Stores and Essential Retailers 31% of U.S. households have used online grocery services during the first month of the COVID-19 pandemic. source: Grocerydive.com Cleaning Services Warehouse and Shipping Businesses IT Services and Online Support Technology Medical and Healthcare Businesses
  19. 19. The way we were. Appreciation for Normal Life Today, a third of consumers strongly agree with the suggestion that they will reappraise the things they value most and not take certain things for granted. source: Ernst and Young 7 New
  20. 20. Take care of your “good guys” - the billions of immune cells and proteins that are constantly on the lookout. If history is our guide the impact of COVID-19 is here to stay with us. Black Death in the 1300's ended feudalism and unshed in the age of reason. The aftermath of the Spanish Flu in 1918 encouraged countries to co-ordinate public health at the international level. Stay Tuned! www.sarmisthatarafder.com