Life in a Post-Pandemic World: Reading the Tea Leaves

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Life in a Post-Pandemic World: Reading the Tea Leaves
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WWD asked five futurists to take out their crystal balls and present their visions of the world, post-pandemic. 🔐

With the economy virtually shut down, consumers throughout the world in lockdown and businesses struggling with the day-to-day challenges of the coronavirus, it’s almost impossible to plan ahead. Still, WWD asked five futurists to take out their crystal balls and present their visions of the world, post-pandemic.

Underhill said he’s working on a book about the future of eating and drinking that “gets into the conflict between what do I get from global suppliers and from my local farmers market and what are the differences.” “Technology has made gardening imminently more viable and easy. It’s less about farming and more artisanal farming — being able to grow a salad a day for yourself,” said Underhill.

At the same time, “People will focus on fewer and better things…as for consumers, financially speaking, it becomes more of a conflict between the Verizon bill and the Neiman Marcus bill, and determining which one is more critical.” From Palatucci’s perspective, several factors are colliding and are changing consumer behavior. He said, “The twin factors of temporary retail closures and widespread house arrest are certainly causing an uptick in online shopping. At the same time, many people are feeling less financially stable, so a good percentage of that online retail growth is likely to be in necessity: groceries and sanitary supplies, for example, rather than discretionary categories like fashion and entertainment.

He continued, “Nobody was expecting this societal disruption, so online retailers were not well-prepared to capitalize on the event and capture a potential new customer base. We may see growth in the frequency of purchases by existing online shoppers as well, but again, that is likely to be a temporary phenomenon.”

As scientists and health officials speculate about the likelihood of COVID-19 resurfacing or other viruses mutating, preparedness and well-thought-out strategies are crucial, according to the futurist. He explained, “My advice is to take time now and assess what you or your organization needs to weather this type of storm, then make sure the necessary precautionary measures and contingencies are set in place.

That’s a sunny prognosis for the current state of the world, though there’s more to Stephens’ outlook. Though most retailers, large ones for sure, have developed online operations, those that didn’t “have to be experiencing an existential moment, and kicking themselves for not being better prepared,” Stephens said. For some time, he’s been envisioning an evolution of physical stores from not only selling channels, but also becoming media channels to acquire new customers, develop brand loyalty and encourage greater online shopping, as “massive” store closings continue.

That experiment is meant to help people to shift their perspective to try to imagine a more manageable scenario and one that is not laced with a constant current of fear.

Without question there will be shifts in business platforms. Lindstrom chalks that up to “the simple reason that people are ‘forced’ to change behavior. And the longer consumers are ‘forced’ to stick with a new behavior , the higher risk that they’ll stick with it,” he said. However grim that outlook may be to many, Lindstrom sees a silver lining. “Don’t go into panic mode. In my opinion this is way too oversaturated. The swine flu infected 2,000,000,000 — 203,000 people died. Do you even recall the panic then? No — because there wasn’t any. Just as there wasn’t any social media around. Facebook was five years old. Perhaps this is somewhat self-inflicted. Don’t get me wrong — I feel for everyone impacted by this. But one rarely has sharp thinking when in panic.

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