The COVID-19 pandemic has affected both companies and consumers, as both adapt to a new world of changing behaviors and requirements, for some sectors it has accelerated trends that already existed, such as the shift to online shopping, and for Others have spawned something entirely new, like the beverage giants and fashion brands that make personal protective equipment and hand sanitizers.
Consumers and businesses have turned to digital payments during COVID-19. This is what a cashless society can mean for the future.
In October, restaurant group Fulham Shore FUL, -3.53% said it would use its low debt position to capitalize on cheap rents and vacant kitchens caused by the pandemic to expand its Franco Manca pizza chain. The restaurant group, which also runs The Real Greek chain, told investors in October that it is “well positioned” to benefit from structural changes in the sector, which has been one of the hardest hit by the closures ordered by the UK government to contain the spread. of coronavirus. “As rents are likely to drop over the next few years and more spots are available, the future looks promising for Fulham Shore.” Technology South Korean electronics giant Samsung called its presentation at CES 2021 “Best Normal for All,” using the COVID-19 pandemic and its effect of keeping millions of people at home as a point of departure. heading for your new innovations. “Our world looks different and many of you have faced a new reality, one in which, among other things, your home has taken on greater meaning,” said Sebastian Seung, president and chief executive officer of Samsung Research. Samsung’s newest products focus on improving home technology, which includes bringing activities that normally take place outside the home, such as exercising, indoors. The company is now integrating fitness plans and driving a new home workout experience with the Samsung Health Smart Trainer. Also read: CES Brings New Devices to Help Stop the Spread of COVID-19 Philips, PHG, + 1.67% the Dutch health and technology giant, says the pandemic has accelerated the adoption of telehealth products and services. With the coronavirus keeping patients with all but the most serious ailments at home and preventing doctors from meeting in person so regularly, remote communication in healthcare has taken off into the new normal. Advances have also been made in the way doctors treat patients outside of healthcare facilities, and the pandemic accelerates innovation in health monitoring, especially for at-risk patients who would normally visit doctors regularly. like pregnant women. More on Industry Changes: Siemens’ transition from industrial giant to high-tech player is gaining momentum. The stock jumped 6%. Computer peripheral maker Logitech LOGN, + 1.18% has become a big winner during the pandemic as demand for its products has increased. The work-from-home trend has driven sales of webcams and keyboards, while growing demand for games has helped sales of the company’s gaming accessories. But Logitech doesn’t think demand will return to normal after the pandemic. Chief Executive Officer Bracken Darrell said the company has invested in what it describes as “long-term growth trends” in remote work and education, video collaboration, e-sports and digital content creation. Finance Emerging markets lender Standard Chartered STAN, + 0.17% has partnered with office provider IWG to create “close to home” workspaces for staff, in an important measure to enable permanent flexible work. The deal gives the London-based bank’s 95,000 employees access to 3,500 offices around the world over a 12-month trial period. In October, HSBC HSBA, + 2.73% said its 230,000 employees worldwide could adopt “hybrid” work practices, including two or three days at the office and two or three days at home. More Internal Finance: How Companies Are Getting Creative With Accounting During The COVID-19 Pandemic Meanwhile, Citigroup C, + 0.68% announced plans in December to offer employees who have been with the bank for five years, periods 12 week sabbaticals. Workers would receive 25% of their base salary during their free time. Employees will also be able to purchase up to five additional vacation days a year starting in 2021, and the bank is reviewing which roles can benefit from some element of work from home. Pharmacist José Baselga, executive vice president for cancer research and development at AstraZeneca AZN, -1.00%, said that the social restrictions of the COVID-19 pandemic have forced the Swedish-British pharmaceutical company to rethink how it conducts clinical trials and se communicates with patients. and internally. AstraZeneca is making additional effort and investment to deal with patients remotely, using online tools such as telemedicine, electronic consent, and real-time data monitoring. Miscellaneous education publisher Pearson PSON, + 0.18% said the COVID-19 pandemic has accelerated demand for digital learning, and CEO Andy Bird said the company had made a number of key hires to maintain that momentum in the next year.