When the dam finally bursts, how will we make the most of the coming boom?

Think of a huge dam holding a body of water that has swelled due to unprecedented storms over a period of a year. The pent up pressure of trillions of cubic tonnes of water (saved money mixed with human frustration) is placing a huge amount of pressure against the wall and it will surely burst soon, into the system, and when it does, how are we going to make the most of it?

Ignore the doom-mongers for a moment. Economists are telling us to get ready for a boom as households and businesses begin to spend the money saved in the past year and the economy begins moving once more, liberated from the shackles of lockdown and the constant simmering anxiety that comes from endless months of uncertainty.

Regardless of the cold, dark winter months that we are immersed in now, and the continuance of the most dreary of lockdowns, there is light at the end of the tunnel. Yes, there is! So how will we make hay when the sun inevitably shines?!

We have already said that 2021 will be the year for adaptability. Innovation in the past 12 months has been at an all-time high, and there is no question that technology has a key role to play in enabling businesses to optimise their performance in the coming boom.

As vaccines begin to tip the balance in the war against the virus, confidence will return and a spike in demand for goods across sectors will become fierce. This isn’t just us who believes this.

Mike Dolan from Reuters reported:

Goldman Sachs and Morgan Stanley stuck by their forecasts for a 6.4% rebound in world growth this year - more than compensating for the 3.7% slump in 2020 and both above the 5.3% median call by private forecasters.

"We expect the global economy to enter the next phase of its V-shaped recovery by reaching its pre-Covid-19 GDP path by 2Q 21," said Morgan Stanley's Chetan Ahya, adding he expects the sharp rebound from March/April onwards.

HSBC too reckons: "The tunnel may be deeper and darker, but there is light at the end of it."

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The fact is there is a huge amount of demand which has been dammed for a long time and the waters have risen even further as governments add more money into the system to keep things moving.

Think of a dam full of water which is ready to overflow or burst! The torrent will eventually break, turning into rivers of great demand driven by human demand and consumer freedom!

So how are we going to prepare in order to make the most of this coming bonanza? How are we going to equip our production for renewed demand when the market returns and growth is in a steep incline? Early movers gain advantage and those who adapt best will reap the rewards.

Twinned with a determined, resilient and adaptable mindset, technology is the enabler, but it is what we do with it that counts.

In light of this, the theme at the FuturePrint Virtual Conference 25-26 February is ‘adaptability with technology’. We have assembled some great innovations, leaders and experts to continue in our mission to provide access to developments and that may help in the recovery.

We hope you take the time to join this compelling, and free event in order to help you make the most of 2021.

Join us by registering for free here