In life there are those turning points that can shift or change the trajectory of an organisation, industry or economy.
Throughout the Covid-19 pandemic, it had been predicted that lockdowns and the growing use of technology would be the final nail in the coffin of physical retail. As more people are doing their banking, grocery and clothing shopping, as well as ordering food online, the reasoning is that businesses with a retail footprint will have less need for physical outlets.
While consumer behaviour has changed, the likes of FNB recently announced the opening of 50 new bank branches, seemingly knowing something what the rest of the world does not.
And it makes sense.
As certain tasks that would have necessitated a bank teller, for example, have been offloaded to banking apps, the types of queries that consumers make at banks will probably evolve. Besides, many people still want to talk to a real person about their money.
However, the unrest this week may add fuel to an already large flame, for those who were on the fence about whether to shrink their physical locations in favour of online channels or bother with a storefront for those only starting out.
The damage seen this week in Gauteng and KwaZulu-Natal presents a tangible physical danger to lives and property.
That reality may see businesses, those that can, choosing not to replace damaged shops but to move their operations online. At the same time, those that once had a dream to open a coffee shop may decide that a “dark kitchen” serviced by Mr. Delivery and UberEats is a safer bet.
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