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Verizon- Adapting to a Contactless World

Global Economic Impact of Coronavirus – Assessment and Mitigation (B)
Case Code: BSTR613
Case Length: 7 Pages
Period: 2019-2020
Pub Date: 2020
Teaching Note: Available
Price: Rs.300
Organization : Verizon Communications Inc.
Industry :Technology & Communications
Countries : United States
Themes: Technology in Retailing/ Contactless World/ Contactless Payments/RetailTech
Global Economic Impact of Coronavirus – Assessment and Mitigation (B)
Abstract Case Intro 1 Case Intro 2 Excerpts

Excerpts

Covid-19 and the Contactless World

Due to the spread of Covid-19 across the world, every customer was concerned about health and safety. Customers primarily wanted to stay safe while looking for convenience. Contactless payment technology was adopted by the retailers to prevent the spread of Covid-19. The retail stores were redesigned to ensure the safety of both the customers and the employees. Yedidia Yossef, CEO, Shekel Brainweigh Ltd (Shekel)..

Challenges faced by Verizon

As of May 2020, Verizon had a total workforce of 135,500 employees of whom 115,000 were working remotely due to Covid-19. Verizon created the infrastructure to support its employees who worked remotely. The employees working from home were provided with PCs, laptops, and other equipment to continue with their work and to handle customer calls...

Verizon Enabling a Contactless World

To minimize physical interactions, Verizon used the latest technology such as digital payment kiosks, remote call center software, and augmented reality...

Touchless Retail

The Verizon ‘Touchless Retail’ experience comprised three categories: Accessing the Store, Physical Elements, and Digital Elements...

Voice of Customer

Verizon launched ‘Touchless Retail’ at its stores to safeguard its employees and customers against the Covid-19 pandemic. One of the customers, however, commented that most of the users of the My Verizon app did not know how to use the app and that Verizon had gone too far with its ‘Touchless Retail’ and the old system of in-store pickup was faster than the present system...

Competitors’ Response to Covid-19

The main competitors of Verizon were companies such as Comcast Corporation (Comcast) , AT&T , Cox Communications (Cox) , and T-Mobile...

Road Ahead

Verizon’s revenue for the first quarter of 2020 was US$ 31.6 billion, down by 1.6 percent due to the retail stores shutdown caused by the Covid-19 pandemic. The retail stores shutdown along with the reduced in-store timings for the remaining stores which were open resulted in low consumer activity and reduced sales of devices in the first quarter of 2020...

Exhibits

Exhibit I: Financials of Verizon

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