3.17 The Pulse Of Covid-19: The Trends Of The Past Week

We know many of our clients are working through dealing with the implications of Covid-19 on their business and day-to-day realities of managing work at a time like this (e.g., WFH isn’t for everybody). We thought it would be nice to send around the micro-trends we are seeing emerge in the market and how companies are reacting as a source of information, insight, inspiration, and maybe even a point of levity.

Harris was in the field last week and found that:

  • Our recent poll found that 74% of Americans said they’re afraid of “accidentally spreading the virus to vulnerable people even if they’re not experiencing symptoms.” (see WWD article here
  • Americans 60+ are least worried and least informed about COVID-19, but as we know are most at risk (see Forbes article here). 
  • 66% of CFOs believe it will take less than a month until back to normal, and are most concerned about a global recession and decrease in consumer confidence (see PwC CFO Pulse study here).

Companies are filling the gaps: Consumers have been consistently looking to private companies for leadership and, at this extreme time, they are looking for all the help they can get.

The mental health connection: Companies are helping Americans manage anxiety and promote wellbeing during quarantining.

Consumers are in need of levity: Consumers are turning to entertainment to distract and occupy time, with estimates predicting a 60% increase in TV viewershipas quarantining continues.

  • Netflix trends show consumers are entertaining their tweens (e.g., On My Block #1 in their top 10 shows in the US), looking for escape (e.g., Love Is Blind, #3) and still watching ‘Outbreak’ (#7) The full list of top 10 in the US includes: ‘On My Block, ‘Spenser Confidential’, ‘Love Is Blind’, ‘Lost Girls’, ‘Boss Baby’, ‘100 Humans’, ‘Outbreak’, ‘Trials Gabriel Fernandez’, ‘Elite,’ and ‘Angry Birds 2.’
  • NBCUniversal is shifting from the box office release to on demand streaming – for $19.99 this weekend you can stream “The Hunt,” “The Invisible Man” and “Emma.” 
  • There are already 65 songs on Spotify that have coronavirus in them, meanwhile Tom Hanks and Rita Wilson created a playlist for everyone self-isolating.
  • Tik-tokers are spreading levity, information and PSAs, like these: 
  1. Vietnamese PSA TikTok craze dance challenge 
  2. Nurse dances  
  3. I will survive remix
  4. Gen Z reimagines 2020 graduation 

A 500ft glance at China: What’s happening now as the market works to recover and heal:

  • Jing Ulrich, JP Morgan’s vice chairman of global banking and Asia-Pacific, predicts that the Chinese economy will grow 15% quarter-on-quarter from April to June, after contracting by 3.9% during the first three months of 2020, compared to the previous year.
  • Today in Chinese consumers are what Bloomberg Media describes as “Revenge Spending”: going out to luxury retailers and malls and enjoying their sense of freedom again. 
  • Hermès International CEO Axel Dumas said he foresees “potential normalization” of operations with seven of its 11 stores in China beginning to resume operations. 
  • Apple and Starbucks have reopened over 90% of their stores in China (six weeks of total closure and disruption).

That’s it for now. Let us know if this was helpful, you’d like to subscribe to our email newsletter or if there are other burning questions we can help answer. We plan to keep providing updates in the following weeks.