Through the “great staggering” to a “better normal”
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If we thought we were dealing with disruption before, 2020 wiped the slate clean and has forced everybody to reconfigure, reassess, and hopefully recalibrate as soon as possible according to Dion Chang, trend analyst and founder of Flux Trends.
The COVID-19 pandemic forced humanity to change the way it thinks about its future – and while most great recalibrations have taken place over protracted periods, this pandemic is different.
“This hit us with a full whammy,” Chang says, noting that technology adoption and working from home practices were accelerated by about five years.
Within a space of 12 months, everything had to change.Dion Chang, Trend Analyst and Founder – Flux Trends
The recalibration was “absolutely” needed, according to Chang, and has forced businesses that were reluctant to make any change to take the plunge or face falling behind.
Chang refers to “the great staggering”, which describes the time between the first hard lockdown and a ‘better normal’ in the future and urges businesses to use this time as a period of innovation.
And not just in the realm of technology, either. Issues such as sustainability, over-tourism and social justice causes we're already at a tipping point at the end of 2019 before exploding in 2020 and are forcing a “wake-up call” for many sectors.
“I don’t want to sound like a beauty queen, but I believe that the children are the future”Dion Chang, Trend Analyst and Founder – Flux Trends
Chang notes that Gen Z consumers, in particular, have vastly different expectations of companies when it comes to sustainability, fair trade, and social issues. They also have the time and digital know-how to hold big brands accountable.
To make a significant and long-lasting change, Chang says we must find a different kind of capitalism that focuses on stakeholders, not shareholders and has sustainability at its core.
If it’s not sustainable, why would you continue down that road when you know there’s a cul-de-sac at the end of the road?Dion Chang, Trend Analyst and Founder – Flux Trends
For data-driven insights that match foresight with sustainable possibilities, re-visit our Absa Insights page regularly to listen to thought-provoking conversations with Absa Corporate and Investment Banking sector experts in the Absa Insights podcast series.
This article first appeared on 702 : Through the “great staggering” to a “better normal”
Source : https://cib.absa.africa/home/insights-and-events/