LOS ANGELES (PRWEB) March 05, 2020
Industry Intelligence announces the Coronavirus IMPACT Report, which will be complimentary to corporate clients. The report tracks government actions, health and safety breakthroughs, market impacts, shifts in supply chain, manufacturing tactics…and more.
“We hope the worst will be over soon and normality will return,” said Rami Ghandour, CEO of Industry Intelligence. “Meanwhile, it is a real challenge for companies to develop an effective response and comprehensive strategy to the coronavirus outbreak, given the scale of the crisis and the rate at which it is evolving. No executive should fly blind on this. Understanding what impacts are already happening and how companies around the globe are taking action will be a critical part to developing your timely response.”
The Coronavirus Special Report offers subscribers a convenient tool to track every new development of this public health crisis from several angles:
How are governments globally reacting?
- Federal Reserve slashes interest rates by half a percentage point to bolster US economy in emergency response to coronavirus
- Hong Kong government proposes US$15.4B in countermeasures to alleviate economic hardships from virus outbreak, political protests; plans include US$1,283 subsidies to about 7 million residents over age 18, tax cuts and boosted public funding
- Chinese president promises tax cuts, economic aid to Chinese companies hurt by virus outbreak as part of country's ongoing effort to reduce economic damage
How are consumers reacting?
- Panic-buying of 'made in China' tissues and toilet paper erupts in some Japanese cities amid coronavirus fears, social media rumors of shortages due to supply chain disruptions
- Rising number of confirmed coronavirus infections in US increases potential for consumers to stay home and order in; this could benefit Grubhub’s sales in Q1 and even Q2 depending on duration of outbreak, consumers' behavior, notes D.A. Davidson
- China facing yeast shortages amid consumer enthusiasm for baking while coronavirus causes Chinese to spend most of their time at home; users upload photos of homemade cakes and bread online to determine whose ‘masterpiece’ is the best
What are the impacts on supply chain and manufacturing?
- At least 51,000 firms globally have one or more Tier 1 suppliers in impacted regions, notes Dun & Bradstreet
- China's main manufacturing firms to resume production as eased travel restrictions following decline in new coronavirus cases allows migrant workers to return; production levels remain behind due to supply chain disruptions, curbed demand, labor shortages
- With Vietnam temporarily cutting off trade with China due to the coronavirus epidemic, manufacturers may soon run out of raw materials, according to industry figures and an economist
How are companies responding to the crisis?
- Cambridge-based Moderna submits coronavirus vaccine candidate to US National Institute of Allergy and Infectious Disease for Phase 1 clinical studies
- Google, Microsoft reportedly accelerating efforts to shift production of smartphones, personal computers, other devices from China to Southeast Asia amid worsening coronavirus outbreak
- Apple CEO optimistic China is bringing coronavirus under control, hinting Chinese factories that produce its devices may open soon
- Starbucks says 85% of its 4,290 stores in China are now open after closing over half in January due to coronavirus outbreak
How are companies turning the crisis into opportunities?
- Chinese factories like Foxconn turn from iPhones assembly to paper mask production
- Fresh Flight launches disposable seat covers to protect travelers from germs, bacteria, filth on airplane seats
- Clorox CEO says company is prepared to build inventory if needed as demand for its products grows
Business professionals who are interested in receiving or sharing this special report with colleagues or partners should contact ClientCare@IndustryIntel.com or call 310-553-0008.