The COVID-19 pandemic is having an impact on consumer and business confidence levels. The world of technology is no exception to the rule. In fact, one thing is certain. The new reality brought about by the crisis will change the way IT companies operate. It will also change how they relate to consumers.
The latest Edelman Trust Barometer report was released in Portugal by EDC. It reveals a growing sense of inequality in times of pandemic. This inequality is undermining trust in institutions. In addition, the consequences of the COVID-19 pandemic are affecting confidence levels. They are also affecting the relationship between organizations and their employees.
The study shows that technology remains the sector with the highest level of trust, at around 75%. However, it has also seen the biggest overall decline. The decline was most marked in countries such as France, Canada, Italy, Singapore, Russia, and the United States. SAPO TEK wanted to understand how trust in times of pandemic translates into the world of technology companies. To find out, it spoke with Frederico Rocha, partner at EDC, and Alexandre Silveira, Marketing Manager at HP. It also interviewed Rui Reis, Executive Director at Mind Source.
The pandemic “has demystified the concept of working from home”
Frederico Rocha spoke to SAPO Tek about the IT market. In light of the pandemic, there are different behaviors in its two segments. “B2C (Business to Consumer) is temporarily cutting back on spending due to fear of the unknown and what may lie ahead. B2B (Business to Business), on the other hand, will have to continue as usual.”
Frederico Rocha stated that companies are now more cautious when it comes to spending. However, this does not mean that they are not investing. Investment levels will have to change to accommodate, for example, the new reality of remote working. In this way, companies can ensure productivity. The EDC partner also explained that the pandemic “has demystified the concept of working from home.” He added that, when things return to normal, companies will view remote working differently.
Alexandre Silveira, Marketing Manager at HP, also spoke to SAPO Tek. In his view, the Edelman Trust Barometer results do not undermine consumer confidence in technology or in companies. “Traditionally, when consumers purchase technology, they seek the advice of an expert in the field, whether it be a salesperson in a store, an enthusiastic friend, a technology blog, or an unboxing video on YouTube,” revealed Alexandre Silveira.
Like Frederico Rocha, HP’s Marketing Manager indicated that technology brands are no exception to the rule. They too will feel the impact of the economic evolution in the face of the COVID-19 pandemic. Demand is high in certain categories of technology. Consumers need solutions for working or studying from home. Still, Alexandre Silveira explained that, in the medium term, “the behavior of the economy will impact companies and condition their business and investments in communication.”
What does the post-pandemic future hold?
HP’s Marketing Manager believes it is still too early to anticipate the trends that will emerge after the pandemic. However, he highlighted the new mobility and remote collaboration skills quickly acquired by workers and students. “This generation will shorten the vision of a more mobile, collaborative, flexible, and tech-savvy society by many years, and this will positively influence how people relate to and consume technology.”
For Frederico Rocha, the growing focus on digital will be one of the trends that will shape the post-pandemic future. Some companies have been forced, for example, to “migrate” to the new territory of online sales. According to the EDC Partner, these companies will intensify their investments in e-commerce. In addition, the focus on digital could intensify in business sectors such as cybersecurity, hosting, and business-to-business communications.
Rui Reis, Executive Director of Mind Source, also views this forced transformation of companies positively. “I believe there will be a focus on remote working so that we are better prepared for the future. There will certainly be major investments in security, hardware, collaborative applications, and cloud services. Today, companies are already increasing their IT budgets to cope with the COVID-19 pandemic outbreak,” he stresses.
Source: SAPO Tek
