Reduced demand for products, services is the greatest obstacle to business viability amid COVID-19

New Ideas in MarketingEssential news for marketers, summarised by YouGov
July 06, 2020, 11:25 AM UTC

Negative effects on revenue (49%), headcount (39%), and total fixed investment (39%) is expected one year from 1 March, as per YPO’s recent study.

With the pandemic impacting global businesses, 64% of businesses now have a negative outlook, compared to 84% from 1 March. However, 26% of the business leaders in the US and 35% in Australia/New Zealand reported having a positive outlook since 1 March.

The greatest obstacle for 50% of business leaders for business viability was the lessened demand for their products/services. Other challenges reported were changes in consumer behaviour (44%) and operating restrictions from governments (32%).

Of those polled, 55% of companies said they received some form of government support during the past few months. 67% companies in the US were more likely to have received some form of government support.

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