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Dan Lok Show

What Does The Future of Business Look Like After Coronavirus?

Dan Lok Show

Dan Lok

Business, Entrepreneurship, Careers, Management

4.9824 Ratings

🗓️ 27 August 2020

⏱️ 7 minutes

🧾️ Download transcript

Summary

Are you in business? Maybe you are wondering what does the future of business look like after Coronavirus? What will change? There will likely be two groups of people. Listen to this episode to find out what they are about.

Transcript

Click on a timestamp to play from that location

0:00.0

So Dan, what do you think the future of the e-commerce and marketing is going to be?

0:17.0

Well, I think for, we're still stuck with most people still self-quarantined, right?

0:24.4

I think after this, people's behaviors will change. And people are thinking about,

0:31.0

all things will go back to normal, well, things will never be normal. Normal is out the window.

0:35.0

That's what I see it. So I think about back then, remember a number

0:38.8

of years ago when Target came into Canada, right, when they spending $1.8 billion dollars buying

0:46.7

up all the leases of sellers, they spent a few, they thought it's going to be super successful. And what they didn't account for is they spent a few, they thought it's going to be super successful.

0:55.5

And what they didn't account for is they spent months renovating all the zealous location.

1:01.5

And during that time, consumers were buying from other places.

1:07.8

Locally, we have TNT.

1:09.9

We have other supermarkets,

1:11.6

we have Walmart.

1:14.1

So after they open, guess what?

1:16.5

They don't go back.

1:19.0

They develop a new buying behavior.

1:21.6

I see the virus, the coronavirus, the crisis did the same thing.

1:26.6

So then you think about poor people staying home.

1:30.2

Example, people who always go to events or they always fly to do business, this forces

1:36.8

them to use online tools as soon.

1:40.5

And now they're like, oh, maybe it being so bad.

1:42.8

We get shit done without traveling.

1:45.0

That's cool, right?

...

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