1. Rapid acceleration of Digital Transformation initiatives
The pandemic has forced an acceleration of digital transformation by several years within companies. Nowadays, companies embracing digital transformation are many steps ahead of the competition. Being digital native is not just a competitive advantage anymore, it sometimes even became a mean of survival for several companies who suddenly had to embrace digital. For instance, we have seen several businesses that all of a sudden had to become digitally active by creating a webshop when their physical shop had to close for a longer period of time due to Covid restrictions.
Sales numbers from a recent study by the United Nations Conference on Trade and Development (UNCTAD) show that customers are spending more time online in the light of COVID-19. Brands which have not truly embraced digital transformation over the recent years could be missing out on a lot of revenue opportunities. Consequently, businesses are looking at ways to spend smarter by shifting ad budget from offline to online to better reach these customers.