Concern is growing over the spread of coronavirus amidst civil unrest, reopening economies, and people gathering for celebrations over Memorial Day weekend. It seems those concerns are not without merit as a dozen states see spikes in cases and many prepare for a wave of hospitalizations, like Arizona.
“Nationwide, 22 states are seeing upward trends in coronavirus cases. About 20 states have seen decreases in recent days, and eight states are holding steady.” – Christina Maxouris and Holly Yan, CNN
14 of those states have seen record highs in new cases. Some of which you can see illustrated in the figure below:
In the wake of all this, something can be said for the resilience and persistence of the country as a whole. Businesses are starting to claw their way back and find new ways to serve their customer base without compromising the experience and customers are doing their best to support businesses in their communities.
- Shoppers are overwhelmingly choosing to add online shopping to their regular habits, which is a good indicator that this trend is here to stay.
By Age Group
- Despite coronavirus concerns, it seems that consumers are still planning to spend time outside and stay active as summer quickly approaches
- The Boomer generation (56-74) is adapting to restrictions by getting more of their goods online than they did before COVID-19.
- In China, beauty brand Forest Cabin turned to live streaming to boost sales after a 90% drop in revenue that would’ve likely bankrupted the company in about 2 months.
- In just 15 days, Forest Cabin trained 1,600 sales staff to hold live stream events on TaoBao Live nearly tripling sign-ups for their loyalty program and outperforming the previous year’s revenue by 45%.
- Consumers are split in both directions all over the world as reopening economies becomes a polarizing topic that has implications for health, safety, and livelihoods.
- Brands should take the time to gauge this in their communities and with their customers, while still taking necessary hygiene precautions.
- According to Gartner, “32% of organizations are replacing full-time employees with contingent workers as a cost-saving measure.“
- The same report showed that 48% of employees may continue to work at least part of the time from home even after COVID, an 18% increase.
- “Top-tier employers” are finding an opportunity to separate themselves from the pack.
- Across the globe, digital ad spend has taken a hit as companies tighten their belts to accommodate for the impact of coronavirus.
- However, there is considerable evidence that the digital economy is and has been a haven for businesses as lower advertising costs and higher engagement lead to widespread YoY growth.