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THE RISE OF THE PLATFORM ECONOMY

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The COVID-19 pandemic has accelerated the pace of digitalisation since confinement measures and closure of frontiers have led most sectors of the economy and society to move their activities online.

Although digitalisation of traditional sectors could already be observed before the COVID-19 pandemic, the latter has significantly accelerated its pace and created a situation of experimentation, where the opportunities and limits of the online platform economy could be explored.

Due to the lockdown measures, most activities have moved online, this pro­ving to be a lifesaver for some, especially in the restaurant business. The pandemic has led to an increase in the use of online services and an increase in the breadth of users, including those who were not using such services before.

As the COVID-19 crisis is lasting, the shifts in consumer behaviour may last as well. The closure of shops and travel restrictions have impacted many sectors of the economy. Businesses in the tourism, hospitality, transportation and event-focused sectors have experienced the hardest economic shocks while retailers had to turn to e-commerce to pursue their activities by plugging into online platforms and the associated ecosystem, including last-mile delivery.

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ARTICLE WRITTEN BY TIMES OF MALTA

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