Is Covid 19 A Curse Or A Blessing For Digitization: We Explain!

June 25, 2021
COVID19 Curse or Blessing for Digitization

In 2020, Pandora’s Box unleashed something called the "COVID 19", which, no surprise has created an unforeseen crisis to humanity suffocating them in the expanse of dread and vulnerability about their survival and well-being.

The virus forced billions of people worldwide to work from home creating an immediate challenge for organizations. Paper-based transactions, in-person meetings, business travel, and every other normal operation required going digital.

This emergence led the digital ship to harbor the storm!

Hardly a day passes on the internet without the report of a new app or social trend. Thus, it is impossible to ignore the influence a digital market has on consumer behavior.

The growing seriousness of the virus in the year 2021 has resulted in every individual opting for internet services to meet their job responsibilities from home. According to an article by Branscombe, internet services have arisen in usage from a mere 40% to a whopping 98% globally, compared to pre-lockdown levels, with video-conferencing platforms like Zoom to grow approx. ten times in use.

How COVID 19 accelerated digitization worldwide

Work from Home (WFH)

Before the pandemic hit us, remote working was a luxury. Now, it has become a necessity. The businesses that previously performed on-site are now changing their entire system and improving their digital collaboration in leaps and bounds.

As long as Covid 19 remains a threat to humanity, various challenges will keep arising with the work environment as well. However, the world has, even in the unprepared scenario, gracefully accepted and adapted to the technological innovations that make WFH a smooth operation today.

Online Education

Education is another domain where online transaction mode is dramatically moved. Thanks to the threatening virus, over 1.2 billion children are out of the classroom globally.

Schools, colleges, and universities worldwide have adapted their classes since the start of lockdown to video-conferencing platforms like Zoom and Google Meet.

Platforms such as Udemy have also witnessed growth in enrolment.

Although an effective education system is yet to surface, this community is aggressively adapting to online-based classes. This has also led to the rise of many tutoring platforms that help in creating digital content and create a knowledge base for its students and learners.

Omnichannel Commerce

"He who refuses to learn deserves extinction"

This hard reality came true to physical business locations which were forced to shut down for over a year during this pandemic. As these businesses have opted for online transactions, consumers are also turning to online shopping to meet their needs. Businesses are adapting, learning, and improving their omnichannel services with convenient payment methods, easy navigation, and prompt communication.

As per the reports of January 2021 by Hootsuite, 90.4% of the population visited an online retail store for purchasing products.

Keeping aside the challenges, covid 19 has triggered a dramatic turning point for e-commerce businesses.

Digital Payment

In 2020 alone, 136 million accounts were added as active users of the digital payment methods. This industry took a decade to reach 100 million active users but credits to the virus; in the last 5 years, the digital payment industry tripled this figure with over 300 million active users monthly.

To keep up with the existing pandemic and demand, mobile money transactions have become more secure and reliable. Services such as salary disbursements, insurance, credits, and international remittances are widely used across the ecosystem.

Digital Content Consumption

Information of any form - news, entertainment, or education is an indispensable part of our lives. And right now, the only safest way to consume this content is through digital platforms. Data from Statista reveals 51% of internet users worldwide are watching more shows on streaming services due to the coronavirus. Likewise, 16 million new signups were seen by Netflix alone during the 1st three months of 2020!

With the increase in demand of viewers and consumers, there has also been a fast development with content creators and content platforms.

Our Conclusion

The coronavirus definitely affected everyone's lifestyle. It is still a major challenge the world health organizations have not found an absolute cure to. Covid 19's unique characters made us stay socially apart, which led the technological innovations to happen today; which otherwise would have happened ten years later.

Strangely, living beings do find a way to balance, and therefore, exist. During this uncalled COVID 19 situation, we found a way to connect, live, and hope via the digital medium.

It is safe to say, while the medical, health, and security forces of the nation were on ground zero, people behind the digital era saved the rest of us at home.