The COVID-19 pandemic is having an impact on consumer and business confidence levels. The world of technology is no exception to the rule, and one thing is certain: the new reality brought about by the crisis will change the way IT companies operate and relate to consumers.
The latest Edelman Trust Barometer report, made available in Portugal by EDC, reveals that, in times of pandemic, there is a growing sense of inequality undermining trust in institutions. The consequences of the COVID-19 pandemic are having an impact on confidence levels and the relationship between organizations and their employees.
The study shows that, although technology remains the sector with the highest level of trust, at around 75%, it has seen the biggest overall decline, particularly in countries such as France, Canada, Italy, Singapore, Russia, and the United States. To understand how the issue of trust in times of pandemic translates into the world of technology companies, SAPO TEK spoke with Frederico Rocha, partner at EDC, Alexandre Silveira, Marketing Manager at HP, and Rui Reis, Executive Director at Mind Source.
The pandemic “has demystified the concept of working from home”
Frederico Rocha told SAPO Tek that, in light of the pandemic, there are different behaviors in the two segments of the Information Technology market. “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, although companies are now more cautious when it comes to spending, this does not mean that they are not investing. There will have to be a change in investment levels to accommodate, for example, the new reality of remote working in order to ensure productivity. The EDC partner also explained that the pandemic “has demystified the concept of working from home,” stating that, when things return to normal, companies will view remote working differently.
Alexandre Silveira, Marketing Manager at HP, told SAPO Tek that the results of the Edelman Trust Barometer report 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 and will feel the impact of the economic evolution in the face of the COVID-19 pandemic. Although there is high demand in certain categories of technology to meet consumers’ need to find solutions for working or studying from home, 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?
Although he believes it is still too early to anticipate the trends that will emerge after the pandemic, HP’s Marketing Manager 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. The EDC Partner stated that companies that have been forced, for example, to “migrate” to the new territory of online sales will intensify their investments in e-commerce. In addition, at the business level, the focus on digital could intensify in sectors such as cybersecurity, hosting, and business-to-business communications.
Rui Reis, Executive Director of Mind Source, also has a positive view of the effect of the transformation that companies have been forced to undergo. “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
