The Covid-19 pandemic has brought about a huge change in people’s lifestyles and also in many trends that have been relevant for years. The impact of this pandemic is difficult to predict. To explore and understand new trends in market strategy, JK Business School organised a webinar on the hanging marketing strategy post-Covid, in which Hitesh Malhotra Chief Marketing Officer, NYKAA, described his perspective on the changing shopping and consumption trends post Covid-19.
Malhotra said: “The whole customer phenomena, of going out to shop or going to the mall is changing as we see it. All trades are going through a complete paradigm shift. E- commerce is sure to emerge as a winner out of this Covid situation and those who don’t have a viable digital strategy might not sustain. In this new era content will be the backbone and it is going to be the real power behind marketing. We saw Disney plus reach out to 50 million subscribers in just 21 days. The shift to new models is quite evident by shopping shifting online and the surge in the use of OTT entertainment platforms such as Netflix and Amazon.”
Prof. Sanjiv Marwah, Director, JKBS, said: “The shift in behaviour across industries is a direct outcome of the change in circumstances around us. Covid-19 has really pushed everyone out of their comfort zones to venture into business models that they were reluctant to adopt before. We saw online businesses grow and traditional businesses become obsolete almost overnight, in real time. I'm sure no one would have predicted such a drastic shift in the market. This is a challenge for a lot of us but is also an opportunity to grow manifold. I see a lot of demand for digitally comfortable management professionals in the near future. We at JK Business School have always been ahead of the times. We offer digital marketing as a specialisation in our PGDM course and, given the changing times, have made Python a compulsory subject. I strongly believe that JKBians will ride this upcoming wave smoothly.”