They included:

An accelerating decline of retail stores, restaurants and shopping malls, and the increase in online shopping and food delivery services.
Wider acceptance of distance-learning at institutions of higher learning as universities close their campuses, forcing instructors to quickly adapt to online and remote technologies.
Greater business investment in automation to cope with the current reality and mitigate future risks of workers not being able to come to the workplace. "For example, stores might provide more self-service kiosks instead of exposing workers to the coronavirus."
The trend of sharing personal vehicles and homes for quick turnover of hundreds of riders or weekend tenants might screech to a halt. "Early reports show that ride-sharing services like Lyft and Uber have experienced as much as a 70% decline in ridership, and Airbnb landlords have flooded some markets with long-term rentals due to a dearth of short-term tenants."
Credit unions and banks alike will see many fewer people visiting branches and using cash even after the pandemic fades and branch lobbies open. Members who were reluctant to use mobile and digital banking in the past are becoming habitual users.

The CUNA report cited research from the Memphis, Tenn., consulting firm Strategic Resource Management, Inc., that 79% of the banks and credit unions it surveyed March 17-25 "have provided more education on the use of remote channels as a means of weathering the crisis, and 82% rated their online and mobile channels as 'vital' to operations during the pandemic."

Instant Insights /

Expect Major Shifts in Habits in a Post-Coronavirus World: CUNA

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