Updated: Jul 31, 2020
Physical/Social Distancing - A New Type of Normal?
The instigation of lock-down measures has varied across the world in terms of issuance and severity of actions taken. Millions of people globally have had to adjust to the implemented changes, living life in a way that is very different from before the outbreak.
When we look at the global markets, we see sectors needing to adjust due to a falling demand for their products and services. Oil for example due to a lack of consumption will have a major slow-down in production to avoid an upside-down supply and demand scenario which would result in the price of oil continuing to devalue and sending economic shock waves across the industry. We have seen the same happen with perishable products such as milk and beer which is being discarded down the drains by the gallon. Clothes retailers going into administration and non-essential retail outlets, pubs, bars and restaurants also closing their doors.
Lock-down signals an overwhelming reduction in demand for many products and services, and we are yet to factor in the long-term impact of the successful implementation of working from home policies. Working from home is certainly a cheaper option for employers as the demand for large managed offices will taper off in favor of smaller service offices. Maybe we will see the rise of the co-working office type set up already gaining momentum for those who would prefer to work from an office environment a few days a week.
Lock-down also generates a new demand for products and services which focus heavily on technology and although have been available for several years, were not a fundamental necessity until now.
When we look closer at the business landscape today, physical distancing is a term being used more and more, and the reality is that professionals globally are faced with the challenge of keeping their businesses afloat whilst adhering to social distancing rules. If you own a courier company right now you are in a good place to benefit from the sharp increase in online orders. Countries like Greece have rolled out remote prescription ordering and delivery services which previously had not been available. Countries globally have adopted online teaching to ensure that students are still able to receive their education.
We live in a time where technologies that enable remote conferencing, keyboard stroke monitoring, screen time monitoring and call motoring mean that we are poised to ether the world ‘Virtual Home Office’ as the new type of normal at the click of a switch.
Events that have fatal, ecological or economic implications often drive policy reform, with the current situation being centered around health and hygiene. We can expect new policies to come into effect to create a more protective environment which will inevitably change the way we do business forever.
At Accruvis, the global pandemic has not affected our daily operations or the products that we distribute. We already embrace technology to run our business as with many other service led online companies. Our adoption of technology from the beginning has allowed us to build a global footprint which enables us to work with our network partners from anywhere in the world. Additionally the products we distribute are not correlated to equities, commodities or real estate.
If you are an IFA, Wealth Manager or Finance Professional and would like to know more about our investment products and/or services, send us and email to arrange a convenient time to discuss.