It looks as if for many of us the worst has moved behind us, lockdown measures are starting to ease and businesses are starting to reopen – the difficulty for many may start to come as we fall into changing our daily routines and habits that have been developed over the past two to three months, but more importantly how these changing habits may impact different businesses across the world and how it may be the responsibility of the consumer, whether right or wrong, to be the linchpin of recovery as the consumer habits change back from the current digital reliance for multiple platforms.
The last two to three months of lockdown have seen a huge shift in many moving to different online platforms for many aspects of our day to day – the most apparent of this has been seen within online streaming, particularly within film and television. It has been noted that the cinema and theatre industry could be at increased risk as social distancing measures may keep people from attending the venues and damage the box office in favour of staying at home – this is proving to be double true as some releases that had been intended for a full theatrical release have been confirmed to be exclusive to streamed platforms only, this biggest name here being Hamilton which will forgo a year long theatre run for exclusivity on Disney+ instead.
(Image from theverge.com)
The same is true in gaming – despite a change in a recent initiative aimed at preventing problem players from participating called Gamstop, this change made was for operators who were voluntarily registered to do so mandatory or risk losing their operating license, but now there are plenty of non uk casinos for TBC players to use despite the reopening of brick and mortar locations around the world, another example of how habits may change large parts of business – although there have been changes seen in some parts of the world such as Vegas as travel and gaming continue as if there had never been a pandemic, the same may not ring true elsewhere as the market flexes in different ways.
There’s a lot of effort being made toward an economic recovery and how to best approach reaching that goal, but there has been little suggested on how to best overcome this specific challenge – there may even be areas of business not fully explored which would have been impacted by these changing habits but unable to experience that change due to lockdown efforts still being in place. What happens over the next few months may be an indication of changes to come, a fast recovery may not be the most healthy recovery for those who are struggling or those who are trying to regain the ground lost of the past few months, and regaining some of what had been lost will primarily be in the hands of the consumer, which will be a tough sell given most of the consumer market is also struggling just as much.