To say that “the world will never be the same any more” at the exit of the crisis, it is grossly exaggerated. However, changes of habits already well underway accelerated in recent weeks.
Also, ways of doing business that were struggling to establish itself, spread by the force of things. It won’t come back, and this will impact on our portfolio ! What will remain of this crisis ?
Telework will win the field
There will certainly be organizations and managers controlling that will return their world to the office as soon as they have opportunity. And for many job categories, it will remain impossible to work from home. Still, I bet you (easy !) there will be more of teleworkers in the post-COVID, much more.
Without being perfect, the experience of the last weeks was conclusive enough, although everything is put in place in the precipitation (and sometimes the chaos).
There will be reluctance, but the financial aspect will eventually triumph. Telework allows companies to reduce their expenditure in real estate, workers save time and reduce their transportation costs.
More people will stay at home, more road networks and public transport will be désengorgés.
Goodbye to cash ?
His future seemed already not brilliant. From a practical point of view, it is true that cash competes hardly with the electronic payment. In addition, the bank notes are now seen as vectors of contagion, in the same way as the rats in time of plague.
Before the pandemic, the electronic payments accounted for three-quarters of the transactions. There was a growing number of businesses who did more of a cash drawer. This number has exploded in less than two months ! Today, even convenience stores are reluctant to pay money sounding.
This paranoia has earned the money exchanges between individuals. It is preferred to already get back to us by transfer Interac, then imagine the following.
The victims of this trend will be the biggest users of cash : the elderly, low-income households, the homeless and the black market (who turns towards the cryptomonnaies).
For others, the use of electronic payments is not without risk : you lose the account to force them to spend virtual money.
The financial institutions virtual
We knew his hours counted, but the great confinement precipitates the decline of the service at the counter of financial institutions.
The Globe and Mail reported recently a surge in substantial registration to online services in the major banks of the country. The same phenomenon occurs at Desjardins.
During the pandemic, the institution was able to observe a leap of the “virtual interactions” with the customers. Already largely in the majority, they plafonnaient. Since the beginning of the year, as by enchantment, they went from 92 % to 94 %. A little progress ? Not ! This tells us that the irreducible of the service at the counter are converted and that more services can be delivered electronically.
“For the first quarter of 2020, we have significant increases regarding the deposit mobile checks, electronic signatures, and pre-authorization for a mortgage loan with the application My first home,” said Chantal Corbeil, spokesperson for Desjardins.
It will not mean the end of the branches, but those that remain will be more focused on advice and sale of financial products, and less on the current operations.
The bond of online grocery shopping
The experience was not enjoyable for everyone, the influx of thousands of new customers quickly saturated the services orders and deliveries of the online grocers.
Still, the pandemic has provided the impetus needed in the virtual grocery to take off finally. Watch the great food. It is here that the battle field of industry moves. The grocers there to invest money in mass !