How the Lessons of 2020 Will Affect the Future of Business

Written by Kelsey

December 16, 2020

When the COVID-19 pandemic first reached the US early this year, many assumed we would make some short-term adjustments, and life would return to normal before long. Now, as we near the one-year mark of the virus, many of us have developed new routines and habits. The quick responses we developed have become learned lessons that can (and maybe should) stick around for years to come. We’ve identified a few important lessons we expect to see implemented in businesses in 2021 and beyond. 

Zoom Conferences 

After months of web conferences, most businesspeople have become very accustomed to conducting meetings over Zoom. While it used to be commonplace to take a flight across the country or a drive to the other side of your city to meet with clients, thanks to the pandemic, we now feel more comfortable having productive meetings on our computers. Going forward, it may be hard for companies to justify these expensive and time-consuming trips, unless they’re absolutely essential.  

On the other hand, it may seem attractive to cut out travel costs, but there are some negative consequences to a primarily digital workplace. When all conferences are done virtually, you do lose some personal networking opportunities. When we’re on Zoom, we often don’t spend as much time making small talk. It’s great for efficiency’s sake, but not for building lasting relationships. That’s a challenge businesses will have to address as video meetings become the norm. 

Touchless Technology 

When we do venture out into the world for the occasional grocery run, many of us are already experiencing a new anxious sensation when strangers get just a little too close to our six-foot bubble. It will take some time before accidental bumps in the aisles and business handshakes feel comfortable again. Before the pandemic, most of us viewed touchless technology as innovations to cut down on paper usage or wait times. According to The Futurist, prior to 2020, the touchless technology market had been growing at a rate 17.4 percent. Now, touchless technology has become more essential in order to protect our health.  

Some businesses have already incorporated touchless technology into their stores with mobile payments, touchless faucets and automatic doors. These existing technologies will only become even more common. In addition, new innovations, such as QR code restaurant menus, digital concierges and gesture recognition touchscreens, will continue to change the retail landscape and become a consumer expectation. 

Shopping Local 

One uplifting outcome from the challenges of 2020 has been seeing communities band together to support each other. We’ve developed a real awareness around boosting up small businesses in our own communities and making an effort to support the local economy, rather than the large corporations who already have plenty of customers. Each of us can make a positive impact by spending our money where it can be used analyzing where we spend our dollars and how we can put our money to use most constructively. We also saw small businesses work together to form mutually beneficial partnerships. For example, one outdoors outfitter offered their staff and materials to a survival gear company that was facing increased demand. As we head into 2021 and beyond, we expect the lessons of 2020 to stick with us and help us all make responsible purchasing decisions. 

Analyzing Equality Efforts 

The summer of 2020 saw a real reckoning with racial inequality in America. Ongoing conversations around social justice have shed light on the unique challenges of underrepresented businesses owned by people of color. Businesses both large and small participated in these discussions, creating initiatives to support antiracism efforts and acknowledging their own mistakes. This year has also caused many companies to look at their own practices and analyze whether they’re being as truly inclusive as they like to think. The truth is, we can all always do more to be representative and supportive of all people. In the future, expect businesses to expend more effort making sure that their advertisements, community partnerships and hiring practices are inclusive of all races, ethnicities and abilities.  

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