COVID-19 ruined finances across the US. Here’s who suffered most
Our new survey of 25000 Americans revealed that several groups that were already struggling before the pandemic have cut their spending more, are now less financially secure, and are generally worse off than before. Click through to see how these groups and others were affected on five financial dimensions.
To read the article, see “Unequal America: Ten insights on the state of economic opportunity,” May 26, 2021.
Dividing the pie
New research from McKinsey Global Institute calculates the flow of economic value from large corporations to households in OECD countries over the past 25 years. Click through to see how wages and salaries, capital income (dividends and buybacks, mainly), social insurance contributions (to pensions, Social Security, and so on), and tax payments are distributed to three income groups in three countries.
To read the article, see “A new look at how corporations impact the economy and households,” May 31, 2021.
Dollars (and dinars) for digital
Our latest McKinsey Global Survey on digital strategy asked business leaders about changes in investment during the pandemic. Companies tried to cut costs everywhere—except digital and technology, where most increased their spending.
To read the survey, see “The new digital edge: Rethinking strategy for the postpandemic era,” May 26, 2021.
Organisations that were “born” using agile practices may have gotten a jump-start on the concept, but companies that undergo highly successful agile transformations have a competitive edge when it comes to operating-model maturity. Why the advantage? For some, the agile transformations led to better technology tools and architecture.
To read the article, see “The impact of agility: How to shape your organization to compete,” May 25, 2021.
Digital adoption gains steam—but not for grocery
When the pandemic forced businesses to close their doors to foot traffic, industries such as utilities and insurance saw a boost of as much as 46 percent in consumer engagement with their digital channel offerings. But grocery shoppers want to pick their own produce again, leading to a drop in engagement with grocers’ digital channels of about 17 percent. Some industries in the European Union also saw declines in digital adoption, particularly among banking, retail, and telco carriers.
To read the article, see “What’s next for digital consumers,” May 23, 2021.