While we are not yet over the pandemic, we thought of attempting to understand how business models are evolving in the new normal as businesses have now resumed closer to normalcy. As part of this survey this year, we interviewed close to 100 CXOs across consumer companies covering 10 sub-sectors. The COVID-19 pandemic led to profound changes in business models, driven by consumers’ preference for new channels offering value and comfort. That consumers are still willing to pay for convenience has persuaded businesses to enhance the online presence and go closer to them through innovative means. The key objective of this survey is to show how consumer companies and retailers are adapting to new realities of the post-COVID world by detailing various steps taken by them. While digital transformation is happening at a rapid pace, cyber security is an area where more progress is required.
