The COVID-19 pandemic has transformed the global business landscape. Virtually overnight, nations around the world have closed shops and restaurants, curtailing every activity not considered “essential.”
And the impact on the world’s economy has been seismic. In the last few weeks alone, with millions of people around the world “sheltering in place,” more than 22 million American workers have filed for unemployment.
As a result, US retail sales plummeted 8.7% in March as more than 250,000 stores have temporarily closed their doors.
In an environment like this, most companies are cutting costs and preparing for a tough road ahead. But this doesn’t mean they’re retrenching entirely. On the contrary, many companies are finding this is the right time to invest in digital technology.
As well, some businesses are seizing this moment to step up and serve their employees, customers and citizens better than ever. We’re particularly proud that many of those companies are CoreMedia customers. Here are a few examples of how our customers are working to make things better – for medical professionals, first responders and hardworking people around the world.
MANUFACTURERS STEP UP
In the B2B space, manufacturers often have access to vital supplies and infrastructure that are needed by hospitals.
Graybar, a Fortune 500 distributor of high-quality components, equipment and materials, is doing everything it can to help medical personnel. When a local hospital near their company HQ in Richmond, VA was running out of space to test individuals without contaminating the hospital, Graybar stepped in, delivering pallets of materials directly to the site so contractors could erect tents and begin running temporary power. More details.
Emerson Electric, another B2B powerhouse and a global leader in technology and engineering, recently demonstrated its commitment to corporate citizenship by ramping up production to assist with ventilator and other breathing equipment needs. And in addition to increasing production, Emerson is deploying ultrasonic bonding technology to produce masks that are safer and less permeable than traditional sewn masks. More details.
RETAIL REACHES OUT
CoreMedia’s brand and retail customers have been equally generous.
One example is Luxottica, the world’s largest eyewear company, whose brands include Ray-Ban, Persol and Oakley. Luxottica’s owner, Leonardo Del Vecchio, recently announced he will gift roughly 140,000 shares of Luxottica stock – worth more than $10M – to his employees as a sign of appreciation. More details.
Athletic wear leader Under Armour has invented an entirely new kind of surgical mask that provides superior protection and can be produced rapidly and at scale. The company has set aside capacity to produce 100,000 of these non-sewn masks every week and is supplying them to hospitals throughout the Baltimore area. More details.
Deckers Brands, a global footwear designer and distributor whose portfolio includes UGG, Teva and Sanuk, recently announced its “Better Together” initiative, which will donate over $1M to pandemic relief efforts. Deckers plans to donate to healthcare providers both in New York and in its headquarters of Santa Barbara, CA. And their brand UGGs is donating slippers and robes to front-line healthcare providers staying in hotels while fighting the pandemic. More details.
Our friends at Tractor Supply Company recently announced appreciation bonuses for front-line team members working during the pandemic. And they’re also investing in technology to make their in-store shopping experience safer as well as committing $2M for charitable giving through the establishment of a new foundation. More details.
LEADING BY EXAMPLE
We’re so proud of what our customer community has accomplished. And for sure there are more stories to be told.
Companies like these provide an inspiring example for organizations looking to both balance their financial survival with health of their employees, customers and neighbors.
Be sure to check our social feeds for more tales from the front lines.