What is the value migration framework in the stock market context?

In simple words, value migration is the concept wherein a business becomes outdated because of failure to innovate and the value of that business shifts to those businesses which continue to innovate.

Many companies have failed over the years because of their inability to innovate, even the largest of companies have to keep innovating to stay relevant in today's fast paced digital world.

Companies like Nokia, Kodak who were once large behemoths, failed to adapt with innovation and eventually succumbed to more innovative savy businesses.

COVID has accelerated a digital adoption push, all businesses have to incorporate some form of digital framework in their businesses else value will shift to those who are better digitised.