By Mimy
A new normal is a state to which an economy, society, etc. settles following a crisis when this differs from the situation that prevailed prior to the start of the crisis. The term has been used in relation to the financial crisis of 2007-2008, the aftermath of the 2008, 2012 global recession, and now the COVID-19 pandemic.
In this COVID-19 pandemic, the term new normal has an increasing use to refer to the changes in human behaviour changes. This includes limiting person-to-person contact like handshakes and hugs also social distancing.
The fatal adversary is known as COVID-19 and has infected hundreds of thousands of people all over the world by March 2020. Nobody had known that there would be a pandemic that cuts across the globe. Just in a blink of an eye, the usual normal tight weekday schedule and hectic weekend lifestyle are changed with staying indoors. The ‘stay-at-home’ slogan has become a mantra chanted throughout social media to remind people how deadly the virus is.
WORK FROM HOME (WFH)
“Work from home” or WFH, this is maybe the currently popular phrase. Most organisations have been compelled to rethink their cost structures, business strategies, and work procedures, following the imposition of lockdowns by governments worldwide.
picture: Google
Even though we are given advanced technologies and digitalisation, but the fact is that WFH may not suitable for everyone. For those who are working, they had to explore how to implement WFH and more flexible working arrangements in a conducive manner, even after the Movement Control Order (MCO).
“Every employee should have the option to decide how he wants to work, that is, in the office or at home, as this would would depend very much on personal circumstances. We must also understand that face-to-face interaction is still important"
Reported to The Edge
That was part of the PNB’s transformation process in order to become more agile and reshape and embrace new ways of working as a run-up to the company’s move to Merdeka 118 in the near future. In other words, for WFH to be effective, having the right technical capability is one of the key enablers. Stable high-speed internet connectivity is essential to ensure seamless interaction on digital platforms.
“Some businesses such as banking are still a people business and that “face-to-face human touch is essential”, although work lifestyle will change with the evolution of technology.”
Reported to The Edge
ONLINE BUSINESS
Businesses are confronted by a very challenging retail environment especially small and medium enterprises (SME), where consumers not only have far less money to spend but will also restrict their movements and minimize their interactions with other people. Consumers are increasingly turning to the Internet to purchase goods and services. Therefore, many SMEs have started selling online since the COVID-19 lockdown. Since it is very demanding, both new and current SMEs in the online retail space need to make their businesses as resilient as possible very quickly.
picture: Google
Digitalisation of SMEs and many have become successful online sellers. Lazada Malaysia managed to onboard more than 17,000 new SMEs through their Pakej Kedai Pintar stimulus programme which ran from April to June 2020. Beneficiaries gained access to an alternative funding and skill training stream, according to its CEO Leo Chow. SMEs on the platform saw an overall growth of more than 110% in sales.
During the current environment, at least 44% of digital consumers in this region have spent more on packaged and fresh groceries. This trend is here to stay. Among consumers who have been buying more since April, at least 80% indicate that they plan to continue buying groceries on online platforms in the future. – Report by Facebook and Bain & Co.
POS Malaysia courier services have doubled after the second phase of the MCO with an increase in larger ticket items. Besides that, services like Pos Online and Pos Laju SendParcel have seen a tremendous increase in take-up, with more consumers paying bills and online sellers fulfilling their shipping needs via online parcel delivery platform, which they previously used to do in the post offices.
Accenture’s Consumer Research Report 2020 describes new behaviours such as shopping consciously with a greater awareness of the environment, health, and cost. These habits are expected to endure post-COVID-19.
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