CHPTA-COPA Data Analyst, Bob Smith has put together some interesting thoughts for company leaders on dealing with the post-pandemic. 

A collection of ideas for the time:

  • You can hope for stability — but best be prepared for the opposite.
    The pre-pandemic business world worked on the assumption that nothing would go wrong. 
  • Work from home or elsewhere doesn’t matter.
    Trends before COVID-19 have been accelerated and need to be part of every business strategy for surviving. 
  • The easy explanation for everything in 2020 was the global pandemic.
    The question is not whether your sales were up or down, but how well you competed?

You Can Hope for Stability — But Best Be Prepared for the Opposite

Post COVID-19 businesses need to rethink priorities. The pre-pandemic world was focused on cost-cutting, growth and maximizing financial returns, all based on the assumption that nothing would go wrong.

Some learnings:

  • Global supply chains are fragile.
  • Infrastructure in health care and transportation are critical. 
  • Unskilled labourers became essential workers.
  • Technology is our friend. There’s a difference between knowing how to use something versus preferring to use it.
  • Viruses and other diseases can happen anywhere.

Critical questions – Rather than answering questions that don’t matter, focus on critical questions.

Post-COVID Business Strategy

Trends that started before COVID-19 have been accelerated and need to be part of every business strategy.
Jeroen Kraaijenbrink from Forbes has identified four essential business trends for post-COVID survival, they are:

1. Further Digitalization

2. Responsible Business

3. Resilient Organization

4. Good Employership

You can read the full article on the Forbes website. 

The Digital Turn of Businesses – Professor Vincenzo Morabito

It is not enough to hold online meetings have paperless offices or be active on social media in order to be considered a digital entrepreneur. Instead a systemic approach is needed.

The pandemic has accelerated the digitalization process: “It was inevitable. But, of course, the pandemic has given an exponential acceleration. So today, more than ever, digitalization is an unavoidable way of reinterpreting business models. This is the only way to make the COVID crisis an opportunity for rebirth.”


Work From Home or Elsewhere, Doesn’t Matter

Throughout the COVID-19 pandemic, businesses and governments faced the need to solve multiple competing priorities simultaneously.

One of the toughest was how to keep a company going while at the same time protect employees. Work from home was one solution.

To work from home, you need good management, motivated employees, specific objectives and performance criteria and above all, trust.

Why do you want everybody back in the office? It doesn’t matter where good employees work.


The easy explanation for everything in 2020 was the global pandemic

Some of you may know me as the data guy (Canadian retail, trade, wages, price indexes, etc.).   Analysts try to explain variances to previous results, forecasts or norms. 

The easy explanation for everything in 2020/ 2021 is the global pandemic. 

The question is not whether your sales were up or down, but how well did you compete?

Trade Data

Trade data is the total of all imports sold through all sales channels. Whether a particular product is destined for a retail store, commercial sales, e-commerce, or purchased from a foreign website, it is included in the trade data. 

Markets are continually changing with economic, social and political events. Sales move to new products and sales channels. Strategies need to adjust

How well did you compete?

Example: This is the market for Coffee Machines in Canada.

Each company has a different strategy; higher or lower quality and price points and preferred channels.

Is the strategy working?
Is your market share better or worse than the market?
i.e. Did you sell 12.57% more machines in 2020?

Note: Sales of higher quality/ priced machines increased in 2020. European suppliers (Switzerland, Hungary) benefited.

 

How can we help?

If you are interested in trade data by certain product categories, let us know.

Do you have some other product sales analysis or market research projects that you need help with – please reach out, maybe we can help.

Please forward any inquiries to Bob Smith, CHPTA-COPA Analyst at rsmith@chpta.ca.