Hundreds of deregulatory actions have been taken by federal and state officials throughout the nation and across industries. While these actions initially addressed critical medical needs, now, regulations and laws that impede the delivery of all sorts of goods and services are being lifted — creating a completely new regulatory environment for many businesses. — Source: Forbes
As healthcare companies struggle to work faster to provide healthcare solutions, and as brick-and-mortar companies fight to survive under lockdown, an unlikely solution has emerged from a sea of restrictions on daily life: institutional deregulation.
Cities are opening up streets to let people dine outdoors and shop while maintaining social distancing. Many, like Philly, are loosening up alcohol regulations to offer take-home cocktails and other convenient experiences. The Alcohol and Tobacco Tax and Trade Bureau worked fast to allow the making of hand sanitizer at distilleries. Meanwhile, regulations that affect larger logistical distribution systems are being rewritten every day to accommodate a constrained economic landscape. Americans for Tax Reform has counted more than 560 local and nationwide regulations lifted in response to COVID-19.
With many changes here to stay, marketers can expect a wave of innovation to emerge as deregulation opens up new avenues for accessing goods and services, as well as a rising need to communicate changes to customers and clients.