2. DIGITAL ECONOMY
How COVID-19 has accelerated digital interactions
Source: (LaBerge, O’Toole, Schneider, Seiler, & Smaje, 2020)
3. DIGITAL ECONOMY
Why go digital?
Endless opportunities - adapting to fit the target audience. Allows for an
extensive reach of the potential market.
Less manual work as processes are automated
Essentially low start up cost
Real-time dashboards and reports on performances to optimize and avoid
crisis. For instance, by monitoring feedback in digital channels, customers
buying behavior and supply-chain-quality issues can be dealt with after
identification
Collects data: improves understanding of cost drivers and causes of risk
Upgrades businesses performance
5. Forbes: Amazon Go Grocery
This Is The Future Of Shopping, Whether We Like It Or Not
Click here to read the article
Click here to see the 2016 ad for Amazon Go
7. NEW PRACTICE
IMPLEMENTATIONS
Digital integration: 1 Contactless
Many industries have adapted to using contactless methods such as QR scanning codes.
Especially since the Covid-19 outbreak, restaurants and pubs transferred quickly to install QR code systems
Now contactless payments are also available. Some examples of businesses that use QR codes are
WeChat
7-Eleven cashier-less checkout
Walmart Pay
Dunkin Donuts new payment app with DD Perks
Example QR Codes:
8. +
o It can be scanned anytime, anywhere with phones
and seamless integration with mobile devices
o Provides quick access to information, uses less
paper
o Easy way to track engagement and transparency
o Benefits both businesses and customers
o Inexpensive: sites designated to make QR codes
free of charge and can easily embed on any type of
media
o Info can be updated quickly
-
o Lack of familiarity, not everyone knows about this
technology
o Requires a phone with camera and Wi-Fi to scan
and access the code
o QR Codes are not aesthetically appealing and some
have Trypophobia
o Other modes of communication may be more
beneficial for more senior generation
NEW PRACTICE IMPLEMENTATIONS
Digital integration: 1
Contactless Advantages and Disadvantages
9. Starbucks & 49er's -
Steakhouse & Club
49er's Steakhouse & Club in Abu Dhabi provides a QR Code to see
their menu. The QR Code grants access to view the menu on Google
Drive where one can order their meal with the waiter/waitress after.
Prior to the pandemic, Starbucks had launched
a WeChat Campaign that allowed customers to
win coffee coupons and become members
through scanning the QR Codes that are
distributed around. Even the Coffee cups had
also been printed with the QR Code too!
Source: (GMA, 2015)
10. Chili's
Chili's uses QR Code for various reasons
1. Scan menu
2. 2.Fundraising
The scannable menu helped the restaurant in providing nutritional information to
its patrons while the fundraising campaign with QR Codes encouraged people to
donate for cancer patients with a scan of their phones
Source & Image: (Joshi, 2021)
11. Digital integration: 2 Application
Many industries have adapted by creating their own apps beside having their website and other
social platforms. Mobile apps have skyrocketed during COVID-19.
Examples include:
Digital payment apps
Grocery apps
On demand apps
Entertainment apps
Food delivery apps
Video calling apps
Healthcare apps
Educational apps
NEW PRACTICE
IMPLEMENTATIONS
12. NEW PRACTICE
IMPLEMENTATIONS
Pros
o Convenient, ease of access
o Staff interaction with customers increases, more
communication is allowed
o Increased customer loyalty with points and reward system
o Easy way to promote offerings - saves money advertising
o Access to business analytics
Cons
o Cost of app development can be high, it can also be time
consuming and complicated
o Requires monitoring and updating
o 24/7 service to customers
o Mobile apps don’t substitute a website: double the work
o Consumers might have trouble finding your application,
there's also no guarantee that the customers will download
the app
Digital integration: 2 Application
13. Macy's have developed a Scan and Pay App allowing customers
to shop on their own devices, see offers, skip the line at
checkout and more!
Macy's & Hard Rock Cafe
Automated ordering
process
experience
14. NEW PRACTICE
IMPLEMENTATIONS
Digital integration: 3 Sharing economy
Sharing Economy (SE) can be explained as "a peer-to-peer (P2P)
based activity of acquiring, providing, or sharing access to goods
and services that is often facilitated by a community-based online
platform' (The Investopedia Team, 2020)
The economic model of SE has significantly affected many
industries but particularly the tourism and hospitality sector.
Examples of SE can include; working space, home and car-
lending, niche services and many more.
Source: (The Investopedia Team., 2020)
15. Sharing Economy:
Types of platforms
Co-working platforms:
Share of space, this may include office, utilities,
storage, supplies and more with other
professionals. Co-working is particularly useful to
freelancers and small start-ups such as WeWork,
HIVE etc
Peer to peer lending platforms:
Individuals lending money without going
through banks i.e. Peerform – Offers
personal loans and StreetShares – Offers
small business loans.
House/car renting or couch-surfing:
Housing platforms such as Airbnb or VRBO
connects homeowners to those who need a
place to stay
As for car sharing, the same idea follows as
house renting
Niche services:
Offers bespoke services to specific interest
groups i.e. Lefty’s (niche market: left-handed
people)
Knowledge and talent sharing:
Share of a particular skill or knowledge with
others. There are platforms that aid in earning
money based on the different skills and
knowledge needed i.e. Skill Share
16. Have you considered how your business can participate in a
shared economy?
https://www.un.org/development/desa/dpad/publication/frontier-technology-quarterly-does-the-sharing-economy-share-or-concentrate/
17. NEW PRACTICE
IMPLEMENTATIONS
Strengths
o Saves money and resources
o Expansion of connections to others:
stronger communities
o Extra income for the providers
o New and better opportunities
Weaknesses
o Safety concerns
o Few to no guarantee
o Cooperation with others: plenty of
communication is required to adapt
and understand each others needs, it
is also time consuming
Digital integration: 3 Sharing Economy
18. WeWork
WeWork is an American real estate company that offers office or co-
working spaces to entrepreneurs, start-ups or anyone who needs their
facilities. WeWork is located in 800 locations worldwide which some of the
countries include: United States, Australia, Germany, China, India, Thailand,
UAE and more
Why WeWork works:
o There's the freedom to book the space whenever (by hour, day and month)
o As of now, they are enhancing their health and safety standards to ensure
a healthier workplace
o They are trusted by the world's top companies such as Microsoft, Zoom,
Samsung, Visa and more
o A variety of workspace provided depending on ones need.
o Working solo or in teams of 20+ for example is available. Renting an event
space is also possible
Source: (WeWork., n.d.)
20. REFERENCES
• GMA. (2015, September 4). How Starbucks is different in China. Retrieved November 19, 2021, from https://marketingtochina.com/how-starbucks-is-different-in-china/
• Joshi, C. (2021, November). 19 Epic QR Code Examples from Brands Killing it! Retrieved November 19, 2021, from https://blog.beaconstac.com/2019/03/qr-code-examples-from-brands/
• LaBerge, L., O’Toole, C., Schneider, J., Seiler, D., & Smaje, K. (Eds.). (2020, October 5). How COVID-19 has pushed companies over the technology tipping point-and transformed business forever. Retrieved November
18, 2021, from https://www.mckinsey.com/business-functions/strategy-and-corporate-finance/our-insights/how-covid-19-has-pushed-companies-over-the-technology-tipping-point-and- transformed-business-forever
• Marriott Digital Services. (n.d.). The old marketing funnel and The modern online buyer’s journey (Image). Retrieved November ,18, from https://www.mdsdecoded.com/blog/search-intent-the-importance-of- matching-user-
intent-with-content/old-marketing-funnel-and-the-modern-online-buyers-journey/
• Moon, G. (2021, November 01). Nike Marketing Strategy: How to Build a Timeless Brand by Selling Benefits. Retrieved November 18, 2021, from https://coschedule.com/blog/nike-marketing-strategy
• The Investopedia Team. (2020, October 3). Sharing Economy Definition. Retrieved November 18, 2021, from https://www.investopedia.com/terms/s/sharing-economy.asp
• WeWork. (n.d.). Office Space and Workspace Solutions. Retrieved November 19, 2021, from https://www.wework.com/
• https://www.un.org/development/desa/dpad/publication/frontier-technology-quarterly-does-the-sharing-economy-share-or-concentrate/