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As all of us strive to make sense of and adjust to the COVID-19 pandemic, there has been a lot of talk in the news of hoarding, empty shelves, and more generally, an imbalance between supply and demand that we normally don’t consider a possibility. As we get past this — which we no doubt will, however long it takes — there are undoubtedly many lessons that will be learned and adjustments made by businesses, government, and all of us as individuals.
Without question this is a time of uncertainty and anxiety throughout the world. Our thoughts have shifted, with a primary focus on the health of their family, friends, and co-workers. We’re experiencing the sudden reality of isolation, with more than 2 billion people staying at home. It has changed our lives, our livelihoods, our relationships, and our economy.
By now you have heard about the Coronavirus. The sad reality is that it is spreading quickly and will continue to spread for a while. Did you know that we are getting roughly 13,000 new cases a day and it’s growing fast ? No one really knows how many people will be infected (or will pass away sadly), but it has caused the global stock markets to crash, which means as a business (or even a marketer), you will be affected.
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Many marketing experts predict that e-commerce sales will only increase as COVID-19 infections soar, social distancing becomes standard practice, and more people choose—or are required—to stay home. However, sellers aren’t so optimistic. In fact, 36% of sellers predict their sales will actually decline due to supply chain issues, product shortages, shipping delays, and the potential for demand to drop as the economy fluctuates.
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In looking at the experiences of the Asian countries that entered the COVID-19 crisis in January, I believe that the pandemic will play out over four phases in the US. Phase One (Infection) ran from January through mid-March. In this period, there was no social distancing and no active management — the virus was passing […].
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We live in an experience economy. Experience is everything. Consumers own brand perception. And experience drives how consumers perceive a brand. Be it their journey to the checkout phase or their post-purchase, last-mile delivery phase, it is imperative that you provide customers with an experience that builds trust, is delightful, and creates a positive brand perception. .
Speaker: Benjamin Woll, Tiffany Spizzo, and Jaime Santos Alcón
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