Travel & Hospitality
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The International Air Transport Association predicts that COVID-19 could cost global air carriers between USD 63 Billion and USD 113 Billion in revenue<
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The hotel industry is dealing with mass cancellations, especially as a number of marquee business, sports and entertainment events are being cancelled
Travel companies need to continue their engagement with audiences, using digital channels to spread positive news and enable virtual sight-seeing as people remain locked inside their homes..
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High |
Banking, Financial Services & Insurance
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Increase in non-performing assets as lock-down of businesses will lead to poorer performance in the quarters ahead
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Fitch has warned that life insurance companies will be hit by a combination of falling stock markets and increasing mortality that will result in higher payout1
Online banking transactions, and policy inquiries regarding taxes and insurance are expected to remain key drivers for CX
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Medium |
Healthcare
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The U.S. Food and Drug Administration states that the first drug shortage caused by COVID-19 is impacting the Active Pharmaceutical Ingredient (API) manufacturing sector2
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The outbreak may disrupt research and prevent patients from traveling to clinical trial sites, thereby reducing the resources available for research and development
The industry therefore needs to work towards a shift from labor-intensive, in-person meetings in clinics / hospitals and substitute them with digital encounters that are possibly automated – thereby eliminating geographical constraints
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High |
Manufacturing
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The reduction in sales volume of automobiles will bring down the volume in post-sales services such as maintenance and sale of spare parts
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High |
Food Delivery Services
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There will be an increase in the volume of online food deliveries. In parallel, there will be an increase in the number of inquiries, feedback and suggestions that will impact overall CX
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Low |
Media & Entertainment
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As an increasing number of people are forced to stay indoors, entertainment consumption will increase exponentially. Subscription-based streaming services will gain ground; media and entertainment companies should focus on digital offerings to cater to this demand
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Medium |
E-commerce
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There is a noticeable traction in online purchases and the high demand is mostly for food and beverages, groceries, hygiene / medical products
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However, online retailers are facing logistical challenges due to bottlenecks in supply chain
Even after lock-downs are eased, e-commerce companies will need to prepare for an increase in Internet time from their customers, leading to a higher demand for services. Supply chains will need to be re-imagined for a newer world order
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High |