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What we are seeing today, according to CEO Carine Vaeremans, is that many companies are reducing their investments or efforts, postponing them or, at worst, silencing them. This is understandable from the uncertainty surrounding the current economy. Despite the decline in business confidence, we also see companies that go against the grain. The very smartest companies and brands are now fully investing in the future or are adapting and reinventing themselves, which in turn gives a powerful optimistic signal. We need this optimism to emerge stronger as a society and as entrepreneurs from this crisis.
From trend to habit
In society it can be noticed that already emerging trends are now gaining a much broader support base. Just think of teleworking, digitalisation or even online shopping in food. As a result of the Corona crisis, all these daily activities have become more and more common among all sections of the population. Companies that respond flexibly to these trends are able to adapt more quickly, which gives them a huge advantage.For companies, it is hyper important to keep a finger on the pulse and to understand their customers, especially in this period. It is critical to identify behavioral changes and translate them into a strategy or offer adapted to the brand.It is a fact that companies in a crisis often save costs on advertising, marketing and research, while at the same time their consumers are changing and increasing their media and consumption behavior very rapidly.
The future is now
First and foremost, you must embrace and fully understand the new reality. The reality of the customer has changed and so has yours. Adapt to the new reality of the customer. Some things will go back to the pre-corona era and other things won't be the same. Apparently it takes an average of 66 days to fully master a new habit. This means that many traditional habits will have changed fundamentally.
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