28.05.2020

Beacon Talks discusses new post-pandemic reality with José Roberto Mendonça de Barros

Economist José Roberto Mendonça de Barros was invited to this latest edition of Beacon Talks to discuss the theme ‘Impacts of the current crisis on people and companies’. The talk was mediated by director Luciana Leite, who addressed issues such as the pandemic’s learning process and how society will need to change to adapt to a new reality. 

According to Mendonça de Barros, partner and director of MB Associados and former Economics professor at USP, the main characteristic that has been revealed is humbleness. ‘We don’t know how the virus works, there are no vaccines or drugs, and we have to admit that we don’t know what to do for sure,’ he claims. 

He believes that people will come out of this experience as different citizens, consumers, and professionals. Starting with a remarkable change in values. ‘People will wish simpler things, like going to the park or being closer to nature. People will also give more importance to their own homes since they will feel more comfortable in their own environment, even after the pandemic. They will enjoy smaller and closer groups of friends’, he points out.

However, looking through the lens of a consumer, Mendonça de Barros says that it is necessary to reassess the purchasing process, the sustainable chain, and the quality of products. Trends, such as telemedicine, remote work, online shopping, and online learning, should continue, even if in a hybrid model, combining distance and in-person activities. He expects that there will be greater demand for local and organic food, focusing on quality and support for small businesses.

‘Online shopping is now a unanimous decision; in other words, shoppers research their product online before buying it. Due to this situation, loyalty to brands may decrease, and companies will have to deal with this new scenario.’ 

The economist highlights organizations’ emerging social character, which plays a significant social role and contributes to overcoming the crisis. The job market needs to seek resilient people that can find innovative solutions to unexpected problems.

Mendonça de Barros foresees a GDP decrease in several countries, including Brazil. Nevertheless, he hopes that Brazil will have a quicker recovery if compared to other nations, taking into account commercial activities and prominent sectors in the country, such as agribusiness.

Click here to watch the full video.