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Looking Back at 2020 – Four Key Changes

15th December 2020

Looking Back at 2020 – Four Key Changes

2020 has been a year like no other. Before we’d even had chance to cave in on our New Year’s Resolutions, the news of a novel coronavirus was already starting to spread – as was the virus itself. By March, it had reached the UK and countless other countries, having first been detected in Wuhan, China.

As we’re all now well aware, the virus has completely transformed the way this year has panned out. Aside from social distancing, face masks and rigorous hand-washing, this has led to a number of changes that could stick around long after the vaccine has been rolled out.

Looking Back at 2020 – Four Key Changes

1. Remote working

With social distancing required to minimise the spread of the virus, working remotely was one of the most important trends from March onwards. During peak lockdown, an estimated 60% of the UK’s adult population were working from home. In doing so, many people discovered the benefits of this way of work.

Eliminating the commute provided a better work-life balance, cut costs and reduced our impact on the environment. With this in mind, it’s expected that many jobs will be made permanently remote or move to a hybrid office and remote model. As a result, companies will need to look at how they can facilitate remote working on a more permanent basis.

2. Faster digital transformation

Going in to 2020, most businesses were in the process of digital transformation in some form or another. That was disrupted pretty significantly by the switch to remote mentioned above, forcing many businesses to fast-track their plans. In the words of Microsoft’s Satya Nadella, “we saw two years of digital transformation in two months”.

Having implemented changes, in many cases quite hastily, now is the time for businesses to consider the importance of digital transformation going forward. 2020 has essentially given digital transformation more weight, showing how it can actually help companies mitigate disruptions and continue to thrive.

3. The shift to ecommerce

2020 hit brick and mortar retailers harder than most. During full lockdowns, non-essential shops were forced to close. Even after those lockdowns, footfall was drastically cut as people tried to avoid busy places. The result? More people shopping online. In June 2020, global e-commerce traffic stood at a record 22 billion monthly visits.

As with remote working, this has opened people’s eyes to various benefits. Those who weren’t regular online shoppers now have a taste of how quick, convenient and often more cost-effective it is. With that in mind, we could see the shift to online shopping continue long into the future. Retailers who want to make the most of this shift will no doubt be looking to strengthen how they sell and market online, with software like digital asset management offering a range of ecommerce benefits.

4. Business closures

Unfortunately, another of the big trends of 2020 has been business closures. The knock-on effects of lockdown have made some business simply unviable, with others inevitably following suit when the furlough scheme comes to an end in March 2021.

This has created a ‘survival of the fittest’ economy for the foreseeable future. More than ever before, it’s vital for businesses to look for ways to increase productivity and revenue to gain the edge over their competitors.

Future-proof your business with digital asset management

From remote working to online selling, digital asset management is an innovative tool that can help businesses adapt to all of the changes 2020 has brought. With a central repository for all your digital assets, you can work smarter to gain the edge over competitors and minimise disruption in the future.

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Looking Back at 2020 – Four Key Changes | iBase