Global Digital Transformation has leapt forward

How the COVID-19 pandemic is accelerating social and economic behaviour changes

 By Daniel B Evans

Digital transformation was the most significant consumer behaviour change and marketing trend in 2020 – the COVID-19 pandemic being the main reason. A recent study by Twilio discovered that 2,579 companies accelerated their digital communication strategy by an average of 6 years due to COVID-19 – resulting in huge gains for some sectors. For many businesses, digital transformation is turning into business transformation.

McKinsey's data estimates calculate that consumer and business digital penetration experienced ten years' growth in just three months. E-commerce spending increased by 30% from March to mid-April. After prolonged shutdowns, consumer habits changed dramatically with mobile payments rising 80% from March to June 2020.

Now, what does this mean? Companies accelerate investment in digital programmes to change how they do business from building technology stacks and integrated data systems to cross-functional processes and ways of working. And importantly, they are building people-capabilities – hiring digital specialists and data analysts and upskilling their teams. Improving employees' skills is critical to ensure that teams perform and deliver accelerated growth through digital marketing.