Global Business Development

EGS Biweekly Global Business Newsletter Issue 16, Monday, November 2, 2020

By William (Bill) Edwards, CEO of Edwards Global Services, Inc. (EGS)

‘Innovation is the ability to see change as an opportunity – not a threat,’ wisely said Steve Jobs.

“It’s tough to make predictions, especially about the future.”, Yogi Berra

“Life is what happens when you’re busy making other plans”, John Lennon

Introduction

This biweekly newsletter focuses on what is happening around the world that impacts new trends, health, consumer spending, business investment and travel. A few highlights in issue #16:

  • The U.S. economy grew at a record pace in the third quarter—increasing 7.4% over the prior quarter and at a 33.1% annual rate—recovering about two-thirds of the ground it lost earlier in the coronavirus pandemic.
  • Surge in coronavirus cases spurs new lockdown measures across Europe and the United Kingdom
  • International Air Travel Is Closer to Restarting, Thanks to This App: The Common Pass app
  • Australia records zero Covid-19 cases for first time in five months

We monitor 30+ countries, 40+ international information sources and six business sectors to keep up with what is going on in this ever-changing environment. Our team on the ground covers 43 countries and provides us with updates about what is happening in their specific countries. Please feel free to send us your input and sources of information. Our contact information is at the bottom of this newsletter.

First, a few Personal Comments

As this edition of our biweekly newsletter goes out, countries in Europe and the United Kingdom are imposing new restrictions on travel and business. COVID-19 cases are at a high in the USA ahead of the election tomorrow. Latin America, on the other hand, is beginning to see lower cases and the reopening of air travel (see Brazil and Mexico). This issue has several articles on how businesses around the world are adjusting to new consumer trends and lockdowns. Spaniards are having to learn to eat out early to avoid the curfew. Global business sentiment overall remains bullish on 2021.

Interesting Data To Start

McKinsey & Co. COVID-19 Executive Change Survey: “We asked executives how long they expected it would have taken their companies prepandemic to digitize 12 different activities and how long it actually took them once the coronavirus hit. When it came to remote working, companies moved 43 times more quickly than executives thought possible.”, McKinsey & Co., Published October 28, 2020

https://mck.co/2TL9Sjz

“Coronavirus (COVID-19) has transformed the economic and consumer landscape. It has changed the way we as consumers live, work and shop. Uncertainty remains high. But what is clear is that economies will not emerge unscathed and the daily routines and lifestyles of consumers will shift to accommodate continued social distancing while treatment and vaccine options are investigated.”, Euromonitor International, Published October 2020

https://bit.ly/35XuWsC

International Travel Updates

“International Air Travel Is Closer to Restarting, Thanks to This App: The Common Pass app, which has now gone through two successful trials, standardizes COVID-19 test results for fliers. International air travel got a hopeful sign for recovery on Wednesday. The first transatlantic trial of Common Pass, an app that creates a standard digital format for COVID-19 test results, was successfully completed.”, Conde Nast Traveler, October 21, 2020

https://bit.ly/3eodyBm

“Delta CEO (Ed Bastian): The return of middle seats and business travel are both inevitable: “It’s going to take some time before customers are confident sitting next to people on a crowded flight, and at Delta we want to give them a little bit more time––certainly into the new year––to evaluate that for themselves,” Bastian said. The company has stated it will block middle seats through at least Jan. 6. ‘Unfortunately, there are a lot of people that haven’t been traveling by air for an extended period of time,’ Bastian said. ‘And it’s going to take them a while before those old behaviors become the new patterns that we can anticipate.’ Still, Bastian is confident that neither business nor international travel is gone for good. Eventually, he believes, companies will realize that true human connection cannot be replicated over a computer screen.“ Fortune Global Forum, October 27, 2020

“Americans can now visit 60+ countries and territories: a complete list: the welcome mat had been rolled up for Americans for much of 2020, but there’s now dozens of countries that are reopening to U.S. tourists. More than 60 countries and territories are open for business.”, The Points Guy, October 27, 2020

https://bit.ly/35Y70W4

“China Southern Airlines Becomes World’s Largest Airline Again: According to data supplied by OAG, China Southern Airlines (CZ) is currently the largest airline in the world. This data comes following the airline wanting to increase its capacity during the COVID-19 pandemic, with CZ increasing seat capacity to nearly 2.6 million seats….10% down compared to the start of the year. American Airlines (AA), therefore, has been moved down to second place. Delta Air Lines (DL) slipped into third place, having been the largest carrier last week.”, Airways, October 26, 2020

“The World’s Longest Flights Are Operating Again: In the latest sign of air travel’s recovery, these ultra-long flights are bookable again. Most recently, Singapore Airlines announced plans to relaunch its longest flight, which is the current record holder for longest flight in the world: a route from New York City to Singapore’s Changi Airport. The 9,357-mile route will ferry passengers three times per week out of New York’s JFK Airport when it resumes on November 9. , Conde Nast Traveler, October 22, 2020

“India’s International Flight Suspension Continues through November: The Directorate General of Indian Civil Aviation (DGCA) said today it would continue to suspend international flights through November 30. The suspension is due to the coronavirus pandemic.”, Airways, October 28, 2020

Australia

“Australia records zero Covid-19 cases for first time in five months: The state of Victoria – epicentre of Australia’s second wave – recorded zero cases for the second day in a row after a 112-day lockdown….Health officials say more restrictions may be eased in the coming days.”, BBC News, November 1, 2020

“City Locked Down for Three Months Has Bleak Lessons for the World: As countries across the globe grapple with the prospect of renewed lockdowns, the Australian city of Melbourne offers a stark lesson on the costs of bringing the coronavirus under control. The city of 5 million people on Wednesday emerged from one of the world’s strictest and longest lockdowns that shuttered businesses and confined residents to their homes for more than three months. While infections have dropped from a daily peak of about 700 in early August to just two new cases on Wednesday, the economic and social impact of Melbourne’s second lockdown since the crisis began has been enormous.”, Bloomberg, October 27, 2020

Austria

“Austria reimposes coronavirus lockdown amid surge of infections: Chancellor Sebastian Kurz said.….. the measures will take effect from Tuesday until the end of November, and will include a daily curfew from 8 p.m. to 6 a.m. Restaurants, bars and cafes will be allowed to provide a take-away service, and hotels will be closed to all but business travelers. Kurz described the curfew as a “ban on visits” aimed to hinder private parties that have driven infections.”, Axios, October 31, 2020

Brazil

“As Europe plunges into a second wave of COVID-19, putting even more pressure in the local aviation industry, Brazil — at least in that aspect — seems to be in a better situation. The sector expects to register a relatively positive month of November, with a boost provided by two long weekends. The upbeat forecast was bolstered by the country’s Ministry of Tourism earlier this week. The government branch said the next feriadão, as extended weekends are called in Brazil, on Nov. 2, should move “more than a million travelers” across the entire country. This, according to the Ministry, represents 40% more than traveled over the October 12 holiday.”, Airline Geeks, November 2, 2020

Mainland China

“PMI points to strong recovery of industrial production and economic activity in 3Q20: The recovery of small enterprises lags behind that of large and medium enterprises but shows marked improvement in September. Output expands at a relatively fast pace as overall demand picks up fast. New export orders increase amid improvement in external demand. Prices of production inputs jump, adding cost pressures on Chinese manufacturers. Manufacturers raise ex-factory prices of their products amid increasing cost pressures and improving sales environment. Manufacturing employment remains steady.”, FUNG Intelligence Group, October 2020

https://bit.ly/3oGscIF

“With the continuous upgrading of retail formats in the Chinese market, new retail has gradually become the mainstream of the market. Recently, McDonald’s China’s Alibaba cross-terminal official member store was officially launched, marking the start of global cooperation between McDonald’s China and Alibaba. This is not the first time that Alibaba has cooperated with an international retail giant across platforms. Prior to this, Alibaba had invested in Parkson China, and later worked with Starbucks to create AI+ new retail insights into consumer trends.”, First Finance, compliments of Paul Jones. Paul Jones & Co., Toronto

“Coca-Cola Expects Growth in China Even as Global Sales Slide: Coca-Cola Co. said it expects to see growth this year in China, even as its global sales continue to decline because of the closures of restaurants, bars, movie theaters and sports stadiums elsewhere around the world. In China, where the coronavirus originated, consumers are ‘more or less back to where they were’ before the pandemic started, though away-from-home sales aren’t quite back to where they were, Coke’s finance chief, John Murphy, said in an interview.”, The Wall Street Journal, October 22, 2020

“Fresh China ban on international tour groups weighs on sector stocks, to push firms further towards domestic market. Beijing has tighten restrictions ahead of the winter months after Qingdao, Guangzhou and Ruili record cases of Covid-19, most of them imported. China’s domestic tourism market has recorded a strong rebound in recent months after curbs were eased in July.”, The South Morning Post, October 22, 2020

“China’s largest restaurant group and KFC parent company plans to further increase the density of stores. On October 29, Yum China announced the third quarterly report for 2020. The same-store sales, the core indicator of chain catering, fell 6% year-on-year in the quarter, while KFC and Pizza Hut fell 6% and 7% respectively. Yum China continues to promote the digitalization of restaurants. In the third quarter, takeaway revenue accounted for 28% of the total revenue of KFC and Pizza Hut restaurants, which was 20% in the same period last year; digital orders (including takeaway orders, mobile phone orders and self-service ordering machine orders) accounted for KFC and Pizza Hut restaurants 78% of total revenue, which was 56% in the same period last year.”, Caixin, October 30, 2020. English translation compliments of Paul Jones, Jones & Co., Toronto

Costa Rica

“Costa Rica: All Americans Welcomed And Covid Tests No Longer Needed: Costa Rica is no longer requiring travelers to provide proof of a negative Covid test (as of October 26) and all U.S. travelers—as well as travelers from all other countries—are welcome as of November 1.”, Forbes, October 23, 2020

European Union and Euro Zone

“Eurozone economic rebound leaves output below pre-pandemic levels: Fresh social restrictions are likely to undermine recovery in the rest of the year. The bloc’s output grew by 12.7 per cent in the third quarter of the year compared with the previous three months, better than the 9.4 per cent expected by economists polled by Reuters and the fastest rate of expansion since records began in 1995. But gross domestic product remained 4.3 per cent smaller than its pre-pandemic level at the end of last year, and economists have warned that the fresh round of restrictions imposed in recent weeks to contain the virus could plunge the bloc back into contraction again in the final quarter of this year.”, The Financial Times, October 30, 2020

“Surge in coronavirus cases spurs new lockdown measures across Europe: The latest measures to address the second wave of Covid-19 infections in Europe could lead to higher unemployment, the permanent closure of many businesses and even more national debt. The French statistics office said before news of the latest lockdown that it expects economic activity to settle at “5 percent below its pre-crisis level” during the third quarter. Data from the German statistics office showed that the restaurant industry experienced a more-than 40 percent drop in turnover between March and August compared with the same period a year earlier.”, CNBC, October 30, 2020

“Europe’s Airlines Cut Flights as Virus Cases Rise, Governments Lock Down: Europe’s major carriers are cutting capacity plans for the end of the year as they grapple with a surge in coronavirus cases and new restrictions to limit the spread of the viral disease.”, The Wall Street Journal, October 30, 2020

https://on.wsj.com/324gHBk

France

“Disneyland Paris Is Closing Again Due To A Second Wave Of Coronavirus: Disneyland Paris is set to temporarily close at the end of business Thursday, October 29 due to a second set of coronavirus lockdowns in France. The nationwide lockdowns are in place to help curb the surge in Covid-19 infections. France’s President Emmanuel Macron said the new nationwide lockdown will last until at least December 1. All non-essential businesses, restaurants and bars will be closed starting Monday.”, Forbes, October 29, 2020

Germany

“Germany Aims to Start Coronavirus Vaccination This Year. Germany could be one of the first Western countries to start immunizing people against Covid-19 under a plan being rolled out by the government and a German company that is testing a vaccine, according to people with knowledge of the strategy.”, The Wall Street Journal, October 29, 2020

“Germany Cancels World-famous Nuremberg Christmas Market for the First Time Since World War II: One of Germany’s oldest and most famous Christmas markets will not return this holiday season.”, Travel & Leisure magazine, October 28, 2020

Greece

“Greece tightens coronavirus restrictions as Europe cases spike: Greek Prime Minister Kyriakos Mitsotakis on Saturday announced that most of the country will resume a coronavirus lockdown starting Tuesday, including closing restaurants, bars, cafes, movie theaters and gyms, AP reports.”, Axios, October 31, 2020

India

“India Resumes 56% of Domestic Flights: Yesterday, the Directorate of Civil Aviation (DGCA) of India increased the number of domestic flights to 56% of levels prior to COVID-19. The regulator said the winter schedule for domestic flights running until March 21, 2021 permits a total of 12,983 flights from 95 airports. It is widely believed, according to the Minister for Civil Aviation Hardeep Singh Puri, that domestic flights should be a pre-requisite, almost like a test before really ramping up international service as they connect smaller cities to major hubs.”, Airways, October 26, 2020

South Korea

“South Korea virus response underpins sharp GDP jump: Economy grows 1.9% in third quarter, buoyed by Covid suppression and tech exports. South Korea has reported its sharpest quarterly gross domestic product rise in a decade as Seoul reaps the rewards from its swift response to the coronavirus pandemic and robust tech exports.”, The Financial Times, October 26, 2020

Mexico

“Mexico’s economy picked up sharply in the third quarter, led by a rebound in industrial production as businesses reopened from shutdowns to slow the spread of the coronavirus. Gross domestic product, a measure of the country’s output in goods and services, expanded 12% in seasonally adjusted terms from the second quarter, the National Statistics Institute said Friday. Industrial production was up 22%, outpacing services, which increased 8.6%. The rebound from the 17.1% contraction in the previous quarter left economic activity in the July-September period 8.6% below its year-earlier level.”, The Wall Street Journal, October 30, 2020

“Aeroméxico to Increase Operations in November: The airline ‘will operate around 4,000 domestic flights, with which it will achieve an 83% recovery in its domestic operations compared to the same month in 2019.’ AM also plans to increase international services to Guatemala City (GUA); São Paulo, Brazil (GRU); Buenos Aires, Argentina (EZE); San Jose, Costa Rica (SJO); Santo Domingo, Dominican Republic (SDQ) and Medellín, Colombia (MDE), plus resumption of service to Lima, Peru (LIM)..”, Airways, October 31, 2020

New Zealand

“NZ small businesses feel the love, global survey reveals NZ small businesses and consumers had the most positive outlook during Covid-19. A new study investigating how small businesses in key markets around the world have responded to Covid-19 suggests that New Zealand small businesses are in a unique position thanks to the support Kiwi consumers have shown them.”, Franchise New Zealand, October 25, 2020

https://bit.ly/31PKY6I

“Burger King New Zealand operator gets new ownership: The operator of Burger King in New Zealand now has a new owner, after retail and hospitality investment company Tahua Partners signed a binding agreement to acquire Antares Restaurant Group. Burger King is the third largest quick service restaurant chain in New Zealand, with 78 restaurants nationwide employing 1,800 staff. The chain also serves as the second global brand Tahua is expected to add to its portfolio after acquiring the local licence to operate Starbucks in 2018.”, QSR Media, October 20, 2020. Compliments of Jason Gehrke, , The Franchise Advisory Centre, Brisbane

Peru

“Machu Picchu Will Open to Tourists in November. Peru also plans to restart flights from cities in the U.S., Mexico, Central, and South America. The iconic archaeological site is scheduled to reopen at 30% capacity on Nov. 1. A maximum of 675 people will be allowed in per day, in groups of eight (seven visitors plus a guide). Temperatures will be checked prior to entering, and anyone showing 100.4 degrees Fahrenheit or more will not be permitted. Additionally, groups must stay 66 feet apart. According to Forbes, trains and buses to the entrance will operate at 50% capacity, and passengers will be required to wear a mask.”, Travel & Leisure magazine, October 28, 2020

Singapore

“Singapore to permit live performances with 100-person audiences from November: The Multi-Ministry Taskforce announced the news in a press conference last night (Oct 20), detailing how the country will continue to curb the spread of COVID-19 while preparing to relax certain safety measures, such as allowing larger groups to gather. Live shows will only permit two zones of up to 50 people each, and the number of unmasked production crew and performers will be limited. Safe distancing will be practised across the venue, from the audience area to the stage.”, NME, October 21, 2020

Spain

“Spanish restaurant owners come up with a revolutionary idea to save their industry – get locals to eat earlier: Spaniards view sitting down for dinner before 8pm as distinctly strange, but it may be the only way to save some of the country’s restaurants, reports Graham Keeley in Madrid….faced with a second wave of Covid-19 infections which is spiralling out of control, the Spanish government this week imposed a six month state of emergency and decreed a curfew between 11pm and 6am. Desperate to save their industry, restaurateurs have launched a counter attack in the hope they can carry off nothing short of a social revolution. Their solution is a radical one – get Spaniards to eat earlier.”, The Independent, October 31, 2020

United Kingdom

“Coronavirus: England to enter month-long lockdown from Thursday, PM announces. Boris Johnson urges the country to return to his spring message of “stay at home, protect the NHS and save lives”. Until 2 December, people in England will only be allowed to leave their homes for specific reasons, such as education, work or food shopping.”, Sky News, November 1, 2020

https://bit.ly/35Yazvq

“Rishi Sunak extends furlough as Bank of England readies £100bn rescue: Treasury and BoE race to prop up businesses amid lockdown chaos. Rishi Sunak said the decision was necessary because of the return of ‘stay at home’ restrictions to contain Covid-19. News of the new lockdown, first reported by The Times, had sparked fury from bosses. ‘We will do whatever it takes as the situation evolves,’ Sunak said.”, The Times of London, October 31, 2020

https://bit.ly/3eeT9P3

“Scientists hope for coronavirus vaccine by Christmas: UK has bought 20m doses of German Covid drug. The government believes that a German vaccine backed by Pfizer could be ready to distribute before Christmas, with the first doses earmarked for the elderly and vulnerable. Albert Bourla, the chief executive of Pfizer, said that the vaccine was in the ‘last mile’ and that the pharmaceutical company expected results within a matter of weeks.”, The Times of London, October 29, 2020

“Fast food chain KFC to add 5,400 new jobs in UK, Ireland: Fast food chain KFC said it will add 5,400 jobs across its 965 restaurants in the UK and Ireland by the end of 2020, in a rare piece of good news for Britain’s pandemic-hit jobs market.”, Reuters, October 22, 2020

“Sales at UK’s Domino’s Pizza surge on online demand, lower tax rate: Domino’s Pizza Group (DOM.L) said on Thursday it expects to meet market expectations for 2020 profit as a lower value-added tax rate and higher online orders helped it post a 19% jump in third-quarter sales. The company, a franchise of U.S.-based Domino’s Pizza Inc DPZ.N, has also benefited from the reopening of contact-free collections and the return of sporting events. A reduction in the UK’s value-added tax rate to 5% from 20% in July helped Domino’s in controlling costs, which had weighed on the company’s first-half profit as it spent more on cooking and delivering its pizzas safely during the pandemic. Online sales now account for around 95% of delivery sales in Britain, the United Kingdom’s largest pizza delivery chain said.”, Reuters, October 28, 2020

“Number of new companies set up this year is likely to break record: Almost 85,000 additional companies are likely be created this year compared with 2019 as the Covid-19 pandemic coincides with a spike in incorporation, according to research. An analysis of data from the past decade suggests that this year could set a record for growth in company registrations. SHL, the recruitment and training business that conducted the research, said that its findings suggested there were ‘tens of thousands of new entrepreneurs’.”, The Sunday Times of London. October 28, 2020

“Pizza Express cuts 1,300 jobs amid crisis in sector: Pizza Express is to cut about 1,300 jobs in a further sign of the deepening crisis in the hospitality sector. The restaurant chain blamed the cuts on renewed lockdown restrictions that have led to a decline in customers since September. Its city centre branches have been hit the hardest. The losses come weeks after the company announced that it would close 73 restaurants, shedding as many as 1,100 positions as part of a restructuring deal agreed with its creditors.”, The Sunday Times of London, October 30, 2020

United States

“U.S. Economy Recovered Significant Ground in Record Third-Quarter GDP Rebound: Jump in output follows steep drop earlier in pandemic; still, analysts project the economy will end 2020 smaller than a year earlier. The economy grew at a record pace in the third quarter—increasing 7.4% over the prior quarter and at a 33.1% annual rate—recovering about two-thirds of the ground it lost earlier in the coronavirus pandemic.”, The Wall Street Journal, October 29, 2020

“Adobe Predicts Record Holiday Season For Online Sales, Expects 33% Growth: Online sales in the United States are expected to grow by a whopping 33% this holiday, to $189 billion, with 42% of those sales, or $79.3 billion, being made on smartphones, according to the Adobe Analytics holiday forecast released today. Adobe’s data shows that the surge in online shopping triggered by the pandemic will continue through the holiday season. It is more evidence that new shopping habits formed during stay-at-home orders and shutdowns are here to stay.”, Forbes, October 28, 2020

“With No Commute, Americans Simply Worked More During Coronavirus: Employees spent over 22 million extra hours on their primary job each workday. From mid-March to mid-September, Americans spent 60 million fewer hours commuting to and from work each day, according to one estimate, as lockdown orders to curb the spread of Covid-19 forced many employees to clock in from home.”, The Wall Street Journal, October 30, 2020

“76% of American CEOs say they may shrink office space: Among CEOs, 76% told Fortune their company will need less office space in the future. And 28% say they’ll need a lot less office space. That’s the finding from a Fortune survey of 171 CEOs in collaboration with Deloitte between September 23 to 30.”, Fortune, October 22, 2020

“Business leaders and small business owners alike agree that 2021 is full of promise. Optimism was everywhere at this week’s SMBTech Summit, a virtual event from GGV Capital that gathered entrepreneurs and investors to discuss the platforms that power our modern economy…..The only thing missing was the doom and gloom we’ve all grown so accustomed to in 2020. ‘We’re in month seven of a global pandemic,’ Richards told participants, ‘but if you look at the tools to start a company, there’s never been more available to the small business owner.’”, INC magazine, November 1, 2020

“New Study Documents Pandemic’s Effects On Online Ordering and Delivery: Restaurant capacity restrictions and customer concerns about visiting restaurants led to a 72% increase in enhanced delivery and digital ordering capabilities in restaurants, according to the 2020 Restaurant Franchise Pulse survey by TD Bank. Online ordering and delivery nearly doubled as a percentage of total restaurant sales during the pandemic. While 86% of respondents reported having delivery and online ordering prior to the pandemic, these offerings now account for a larger percentage of their sales, climbing from 20% in 2019 to 39% in 2020.”, Franchising.com, October 29, 2020

https://bit.ly/3mLe0N1

Brand News

“How the Covid Crisis Will Determine Brand Winners: Every crisis creates brand winners and losers. This one is no different. Eventual brand winners will be those that best understood the long-term implications during the crisis and reimagined their businesses from the ground up.”, Franchising.com, October 22, 2020

https://bit.ly/2TIE3HZ

How Denny’s® Innovated: “How This Problem-Solving CEO Is Keeping Her Restaurants’ Doors Open. Dawn Lafreeda breaks down the incredible struggles (and opportunities) of operating 85 Denny’s locations during the pandemic. Dawn Lafreeda is President, CEO and founder of Den-Tex Central, Inc. dba Denny’s Restaurants. In 1984, she opened her first Denny’s and since then, has built an incredible 85-location operation. Lafreeda, like so many business owners in the restaurant space, has been massively impacted by the pandemic but has found a way to manage her way through this incredibly destructive crisis.”, Entrepreneur magazine, October 21, 2020

https://bit.ly/2FTN25U

“Starbucks earnings top estimates as sales rebound quicker than expected in U.S., China: Starbucks topped analysts’ earnings and revenue estimates for its fiscal fourth quarter. The chain reported that its two largest markets, the U.S. and China, are rebounding from the pandemic more quickly than expected. Starbucks also released an outlook for fiscal 2021, predicting stronger growth than analysts’ forecasts.”, CNBC, October 29, 2020

“Here’s what you’ll find at the biggest Wendy’s in the world: The biggest Wendy’s outlet currently is located in Tbilisi, Georgia. According to Dispatch, this is one impressive place to be: it has three floors and is spread across 15,000 square feet. Gulp. It was inaugurated in 2015 and offers the usual suspects such as the brand’s delicious hamburgers along with 15 kinds of coffee….The restaurant doesn’t just have a dining area. It also features a Game Zone in case you’re looking for ways to entertain yourself while eating at Wendy’s.”, Mashed, October 31, 2020

Articles And Charts About Doing Business in The Times Of COVID-19 and Beyond

“Strategic Planning Is The Compass For Your Business: We define strategic planning simply as, ‘know where you want to go and how to get there to end up in the right place’……. In short, it builds value in your organization, as well as a foundation to weather any scenario or storm.”, Franchising.com, October 26, 2020

https://bit.ly/3edjQ6I

COVID-19 causes consumer spending changes: “Fears over transmission of Coronavirus (COVID-19) has led to government-mandated travel restrictions and non-essential business closures. As a result of these pandemic-driven changes, consumer spending underwent unprecedented levels of channel shifts, with the digital channel becoming the default for many consumers, giving way to what will likely be a permanent e-commerce boost. Comparing results of two consumer surveys Euromonitor International fielded in 2020 about path to purchase habits provides insights into these drastic shifts and subsequent surge in e-commerce. Nearly every category showed a double-digit increase in the percentage of consumers making digital purchases between the two fielding timeframes. Beauty, health and personal care purchases were exceptions to this increase, and jumped only eight points.”, Euromonitor International, October 2020

https://bit.ly/3jG4vg2

The Coronavirus Effect on Global Economic Sentiment: “Since September, executives have maintained more positive than negative outlooks for the world economy, national economies, and their own companies.”, McKinsey & Co., October 2020

https://mck.co/3kEPxZ6

Who We Are And What We Do

Edwards Global Services, Inc. (EGS) provides a complete International solution for U.S. businesses Going Global. From initial global market research and country prioritization, to developing new international markets and providing operational support around the world. Our U.S. based executive team has experience living and working in many countries. Our Associate network on the ground overseas covers 40+ countries.

Founded in 2001, Edwards Global Services, Inc. (EGS) takes U.S. businesses global and currently has activity in 25 countries. Our Clients are all consumer-faced brands. Edwards Global Services, Inc. (EGS) has twice received the U.S. President’s Award for Export Excellence

Find out more about the services we provide U.S. companies Going Global at: www.edwardsglobal.com

Download our latest quarterly GlobalVue™ country ranking chart at this link:

http://bit.ly/EGSGlobalVue

William Edwards, CFE, is CEO and Global Advisor of Edwards Global Services (EGS). He has 46 years of international operations, development, executive and entrepreneurial experience and has lived in 7 countries. With experience in the franchise, oil and gas, information technology and management consulting sectors, he has directed projects on-site in Alaska, Asia, Europe and the Middle and Near East. Mr. Edwards advises a wide range of companies on early to long term global development of their brands.

For advice on taking your business global, contact Mr. Edwards at bedwards@edwardsglobal.com or +1 949 224 3896.

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