Innovation in services in Colombia: effects and responses to the Covid-19 crisis
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The Covid-19 crisis has had a significant impact on Colombia’s service sector, affecting revenues, liquidity and business models. This paper aims to analyze the impact, responses and opportunities for innovation in three sub-sectors: financial cooperatives, gaming and pet retail. The study employs a multi-case methodology, using convenience sampling of firms from different sub-sectors in Colombia. Semi-structured interviews were used, and data were processed using Atlas IT to analyze the impact, responses and opportunities for innovation during the Covid-19 crisis. Responses to the crisis focus on facilitating customer processes, offering home-based and digital services, and seeking government support. The study shows that while the Covid-19 crisis created serious financial challenges for Colombia’s service subsectors, it also spurred the rapid adoption of digital innovation and organizational transformation in the service sector, opening up a significant opportunity for the adoption of Industry 4.0 technologies. © 2025, Universidad del Zulia. All rights reserved.
Palabras clave
Covid-19, Economic crisis, Innovation opportunities, Service sector