With Covid-19’s ‘new normal’, will businesses that bank on crowds adapt? Analysts weigh in
Tuesday, 21 Apr 2020 05:44 AM MYTOh said cinemas have been on a rapid decline as people opt to watch movies at home or stream online from their smartphones. — Picture by Ahmad Zamzahuri
“These businesses, even malls, are not doing well nowadays and the pandemic accelerated this trend,” he said in an interview withHe said cinemas, for example, have been on a rapid decline as people opt to watch movies at home or stream online from their smartphones. These businesses must revolutionise their business models from being crowd-oriented to be digital, he said before adding that this meant massive opportunities for digital transformation specialists.
The Sunway University Business School economics professor said public gatherings will continue to be discouraged for at least several more months due to the pandemic. Oh said some small businesses may be able to last for a few months with the additional assistance and grants from the government.The government announced a RM10 billion rescue package to help businesses ride out the mandatory halt of all non-essential activities during the MCO and avoid retrenching workers.
The world-stopping Covid-19 has already caused unprecedented disruptions to virtually all facets of human life across the world.
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