Publications

- July 1, 2020: Vol. 32, Number 7

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COVID-19 expected to change business as we know it

by Kali Persall

As the economy begins to reopen in phases across the country, companies are starting to think about what their strategies will look like post-COVID-19.

According to a study recently conducted by Opinium and LiveArea, a customer experience and commerce agency, more than half of companies in the United States are likely to overhaul their long-term business strategies as a result of the pandemic.

“The impact of COVID-19 on U.S. businesses will be lasting,” said Jim Butler, executive vice president and general manager of LiveArea. “The companies that move quickly to transition to a digital-first approach will be the brands that survive and, if the strategy is executed smartly and swiftly, stand to flourish in a post-COVID world.”

The study was conducted in May and surveyed 500 business managers across multiple verticals in the United States.

Among the strategy changes, the survey found that 51 percent of business managers are looking to invest in digi

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