Demand for wearable health tools like trackers grows, as consumers become conscious of their health.
Businesses looking to build a new product in 2021, must consider consumer behaviours driven by the pandemic and understand where the market is headed. With COVID-19 disrupting economies, companies must assess unemployment in targeted markets, as it can affect consumption levels of consumers.
Brands are expected to have a K-shape recovery wherein some brands will recover more quickly than others. Further, remote work is going to be more prominent, as large companies announce long-term work-from-home plans. This could boost the start-up industry and drive innovation across geographies and demographics.
Further, as the use of digital tools grows, brands must build easy systems, interactions and training tools to close the gap in digital fluency. Also, with consumers demanding sustainable economy, businesses must work towards creating an eco-friendly supply side.
[7 minute read]