The COVID-19 has transformed the world. In whirlwind of changes though, there will be consistent forces that will continue to be relevant and even grow in significance. One poignant example is the proverbial challenge of providing the frictionless customer experience. For many organizations in the leisure, hospitality, and retail trade industry, organizational agility and resiliency will be tested as they navigate the new normal that will have profound impact on consumer behaviors and preferences.
This global pandemic has brought on an unprecedented level of uncertainties and took a grave toll on both human lives and economy. As people return to their lives and the reopening of economies continues, it is worthwhile to take stock of current situation and trends for the foreseeable future. At the time of this writing, there is over 5 million confirmed cases globally and nearly 345,000 fatalities.
The pain associated with parking might surprise you when they are quantified. On average, Americans spend 17 hours in a given year looking for parking. The average cost on wasted time, fuel, and emission is equivalent to $345 per year. These figures jump to 85 hours and $1,880 per year for Los Angelenos; for New Yorkers, 107 hours and $2243 per year. The cost of parking as a proportion of the total cost of driving is approximately 30%.
Needless to say, the perception of parking does not always conjure up warm and positive reactions.