By Rai Chowdhary
There comes a time when we need to re-visit long-held paradigms, beliefs, convictions…. call it what you may. It is a period where the known rules don’t work, things “seem” to happen for reasons that defy explanation, phenomena occur taking almost everyone by surprise, and people say “never seen anything like this before.” Are we there yet? In what fields?
History shows we have been through many such turning points before. In some cases old ways simply ceased to exist, in others – we moved on to something new. This indicates there are three distinct phases: a beginning, followed by a period of growth and sustenance, and then plateauing out or decline / decay. The last phase can sow the seeds for new opportunities and a new beginning.
Interestingly – sages and seers from the east (Indus Valley Civilization) told us about these many centuries ago – whatever has a beginning, will go through three phases. The west refers to it as the “S Curve.”
Given the current world scenario – many long held truths seem to be under challenge. Here are three of many I am watching (together with an explanation and the evidence in each case):
- Good quality is an assurance your product will be really liked by customers – logically it makes sense, right? Not quite.
(Tesla ranked lowest in quality with 200+ problems per 100 cars1, but is well liked. Sales are growing despite the car being rather pricey. It also scored the highest in customer emotional attachment and excitement2 – according to J. D. Power surveys) - A pandemic means hardship for everyone; therefore expect a slow housing market, and a recessionary trend in stocks. Again, this is to be expected. Reality shows otherwise.
(as of July 2020, the COVID-19 situation seems to be getting worse in the USA; yet, we are seeing a strong sellers’ market for houses, and a booming stock market. The Fed and the governments in many parts of the world pledged to do “whatever it takes” to stem / prevent an economic meltdown. A result of printing of money in full force) - COVID-19 hastened the demise of some retailers while online retailers accelerated their growth. Not too long ago, consumer retail went through a massive transformation when large chain stores such as Walmart, Target, Sears, Kohls, and the like… replaced small owner-run shops. Now the hunters are becoming the hunted in a classic case of the last phase giving way to new beginnings
(Amazon’s valuation exceeds the combined total of Walmart, Target, Best Buy, Macy’s, Kohl’s, J. C. Penny, and Sears – according to a 2017 report3)
What do wee conclude? That which was unexpected at one time has become expected now; what was normal has become abnormal, and finally – the meanings of positive and negative have reversed as well. Welcome to a new world!
Sources:
2 – https://www.cnet.com/roadshow/news/tesla-jd-power-apeal-study-dodge/
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