Probably like most of you, I am doing a lot of reading at the moment around the global business impact of the Coronavirus pandemic and understanding how that might translate practically in the African economy. I read a fascinating article this week, published by global consulting firm Bain & Company, which examined the massive behavioral shifts that have happened as a result of this crisis. There were some truly mind-blowing statistics to grapple with. For example, almost 10 million new buyers of all ages started shopping online in the US since the start of the pandemic, a trend that has been replicated in many other countries around the world. As people have retreated into their homes to shelter, work, study, and undertake leisure activities, the way they have traditionally spent their time and money has dramatically changed. What is uncertain now, as countries begin to emerge from their lockdowns and enter the ‘new normal’ business environment, is how reluctant many people will be to return to activities involving human proximity. Until effective global vaccines and therapeutic treatments emerge in response to this pandemic, it may well be that this Great Reluctance Period is here to stay for some time yet. As entrepreneurs, we need to be ready to respond to this new potential reality.
Have yourself an inspired entrepreneurial day! — Melanie