Voice of the Industry: Coronavirus Impact April-October Overview

January 2021

The briefing includes the comparative visual overview of Voice of the Industry: COVID-19 Surveys conducted in April, July, and October. This report captures a quarterly comparative analysis of the Coronavirus impact taken by businesses globally during 2020.

USD 1,325
Request More Information

Key Findings

The COVID-19 pandemic has had an extreme impact on business operations worldwide. Nearly two thirds of respondents expect the pandemic to be much worse for the global economy than the 2008/2009 global financial crisis.

in the process of doing so when surveyed.wereThe pandemic greatly shifted employee and labour policies in early 2020, with the main precautions taken by companies so far being restricted travel and mandatory working from home. The great majority of companies either created a business continuity plan in response to COVID-19 or

Many industries expect that the COVID-19 pandemic will lead to decreased revenue growth in the short term, though the impact is less clear when looking at long-term effects. Similar uncertainty surrounds shifts in consumer behaviour, though most expect increased online shopping and working from home to become permanent features of life post-COVID-19.

Introduction

Voice of the Industry: Coronavirus (COVID-19) snapshot

Impact on Operations

Impact of COVID -19 on current operations is extensive globally
Most companies are reactive in business continuity planning
Supplies and transportation disruptions slowly decreasing
Investment expected to continue post-COVID

Impact on Employees

Most companies focusing on products to protect employees’ health
Inability to work remotely tops list of barriers to action
Continued work from home and increased anxiety expected

Anticipated Impact on Sales and Revenue

Anticipated short-term impact of COVID-19 on revenue
Most companies expect 2020 sales to fall short of 2019
Economic slowdown and reduced consumer demand anticipated
COVID-19 expected to be worse for economy than 2008/09 crisis
Comparison to 2002/2003 SARS Crisis

Spotlight on Travel

Travel industry slowly recovers since the COVID-19 outbreak
Cancellations, postponements and widespread pessimism

Spotlight on Retailing

COVID-19 impact on sales
The shift to online sales is continuing

Shifts in Consumer Behaviour

Shift to online shopping expected to persist post-COVID
Social outings to bounce back as working from home continues
Continued focus on social welfare of customers and employees
Most expect changes in travel behaviour to be short- or mid-term

About Voice of the Industry

About Euromonitor’s Voice of the Industry survey series
Industry focus of Voice of the Industry respondents
Geographic focus of Voice of the Industry respondents
Share:

NEW REPORT GUARANTEE

If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE! Home Page