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Coronavirus Live Blog Reopening Resources Small Business Checklist Chamber Daily Bulletin Top Takeaways: While some countries grapple with resurging COVID-19 cases, others are beginning to claim victories. Shoppers are increasingly turning to online sales during the pandemic. Chamber leads discussion promoting sustainable trade policies. Keep your business strong, prepared, and proactive. Developments That Matter Different Countries Have Different Recovery Timelines With global cases exceeding 8 million, we’re seeing a tale of two COVID-19 stories: Some countries are grappling with a resurgence of coronavirus cases while others have declared fledgling victories against the pandemic. (Visit our Global Dashboard on COVID-19 for the latest.) Over the past several weeks, South Asia has emerged as a new hot spot as 1.7 billion people emerge from strict lockdowns. India’s major cities have recorded spikes in confirmed cases, prompting state governments to renew restrictions on activity. With daily case counts soaring in Pakistan and Bangladesh these countries face critical shortages of hospital beds, healthcare workers falling ill, and looming food insecurity. Latin America has also struggled to mount an effective COVID response. While Brazil captures headlines amid a rising death toll and deepening political crisis, Chile, Panama, and Peru all rank among the world’s highest in per capita daily cases. The challenges facing these and many other developing countries are stark, given the relatively low level of health system capacity and prevalence of informal work. Though lockdowns inhibit the virus’ spread, they have come at the cost of lost employment and hunger for millions. At the same moment, a nearly COVID-free New Zealand celebrated by welcoming fans back to stadiums for the first live rugby game in months. France removed restrictions as President Emmanuel Macron declared a “first victory against the virus.” This divergence makes it clearer than ever that recovery in countries across the globe will happen on drastically different timelines, creating additional challenges for both the business community and international institutions. –Myron Brilliant, Executive Vice President, Head of International Affairs, U.S. Chamber of Commerce Chamber in Action Pandemic Has Accelerated Trend Towards Online Sales The COVID-19 pandemic will change norms and behavior in many ways. One of the earliest shifts was in the way Americans shop, with many people switching to buying products online instead of in stores. That change has been underway for many years, but the pandemic undoubtedly accelerated the decades-long trend. Retail sales at traditional brick-and-mortar stores still vastly outpace non-store sales. In May, they accounted for 82% of all sales even in the midst of the pandemic. Online sales accounted for the remaining 18%. However, online sales were just 13% in February. Americans' shopping habits are slow to change. A jump of 5 percentage points in 3 months is a watershed shift. Online sales’ 13% share of total sales in February was the record high up to that point. Online sales have been growing slowly but steadily since Internet use became widespread. In January of 2010, online sales were 8% of all retail. So they had grown 5 percentage points over more than a decade. That works out to half-a-percentage-point per year of growth. In April, they spiked to more than 19% of all sales. In two months of the pandemic, online sales increased more than 6 percentage points as a share of retails sales, or more than they had in the previous decade. May saw a pullback to that 18%, but online sales are still claiming a much larger share than they did before COVID-19 struck. The shift back to shopping in stores will likely continue over the next few months as the Great Pause eases more and people seek a return to normalcy. However, it is likely that the pandemic has permanently increased the share of online buying. Businesses will need to adjust to this change. –Curtis Dubay, Senior Economist, U.S. Chamber of Commerce Chamber Convenes International Coalition on Sustainable Growth On Tuesday morning, the Chamber convened the first meeting of the International Policy Coalition on Sustainable Growth (CSG) with a webinar focused on sustainable trade. The event brought together experts from the business, think tank, and government communities to discuss balancing the imperatives of environmental protection and economic recovery in sustainable trade policies. “The choice between environment and growth is a false choice,” said Kazuhiko Takeuchi, President of the Institute for Global Environmental Strategy, Japan. “We must balance globalization and sustainable growth to rebuild better after the pandemic.” The discussion centered on sustainable economic growth and panelists agreed that a systemic approach spanning across diverse issue areas and geographic boundaries is required. “Coronavirus has illustrated the need for systemic thinking. Health care, commerce, transportation systems, water management, and urban development all intersect with environmental issues,” said Gary Litman, Vice President for Global Initiatives at the U.S. Chamber. The CSG will convene further virtual consultations to develop proposals in advance of the September G20 meeting. Further information on the Chamber’s sustainable growth Policy Pillars and Engagement Scope can be found on the CSG webpage at greengrowthpolicy.com or on the U.S. Chamber’s Sustainability and Trade Recommendations page. Small Biz Perspectives 9 Funding Options for Minority-Owned Businesses Duty Calls, Business Responds Accenture Pivots to Remote Volunteering Tara Vance, the company’s corporate citizenship lead, discusses the highlights and challenges of volunteering virtually. What We're Reading NBA Details Coronavirus Testing Protocols, Including 2-Week Resting Period for Positive Tests What will life inside the league's campus at Walt Disney World in Florida be like when play resumes? read more A Teenager’s Guide to Building the World’s Best Pandemic and Protest Trackers 17-year-old Avi Schiffmann offers advice to anyone else interested in doing something similar. read more Quick Reference Resources to help keep your business strong, prepared, and proactive. Reopening Business Digital Resources Center Guides and Toolkits Policy & Advocacy Business Community Response Economic Impact CO— Coronavirus Small Business Hub Coronavirus Live Blog Corporate Aid Tracker Event Series CO— Small Business Virtual Events The Path Forward 1615 H Street, NW Washington, DC 20062
Coronavirus Live Blog
Reopening Resources
Small Business Checklist
Top Takeaways:
Keep your business strong, prepared, and proactive.
With global cases exceeding 8 million, we’re seeing a tale of two COVID-19 stories: Some countries are grappling with a resurgence of coronavirus cases while others have declared fledgling victories against the pandemic. (Visit our Global Dashboard on COVID-19 for the latest.)
Over the past several weeks, South Asia has emerged as a new hot spot as 1.7 billion people emerge from strict lockdowns. India’s major cities have recorded spikes in confirmed cases, prompting state governments to renew restrictions on activity. With daily case counts soaring in Pakistan and Bangladesh these countries face critical shortages of hospital beds, healthcare workers falling ill, and looming food insecurity.
Latin America has also struggled to mount an effective COVID response. While Brazil captures headlines amid a rising death toll and deepening political crisis, Chile, Panama, and Peru all rank among the world’s highest in per capita daily cases. The challenges facing these and many other developing countries are stark, given the relatively low level of health system capacity and prevalence of informal work. Though lockdowns inhibit the virus’ spread, they have come at the cost of lost employment and hunger for millions.
At the same moment, a nearly COVID-free New Zealand celebrated by welcoming fans back to stadiums for the first live rugby game in months. France removed restrictions as President Emmanuel Macron declared a “first victory against the virus.”
This divergence makes it clearer than ever that recovery in countries across the globe will happen on drastically different timelines, creating additional challenges for both the business community and international institutions.
–Myron Brilliant, Executive Vice President, Head of International Affairs, U.S. Chamber of Commerce
The COVID-19 pandemic will change norms and behavior in many ways. One of the earliest shifts was in the way Americans shop, with many people switching to buying products online instead of in stores. That change has been underway for many years, but the pandemic undoubtedly accelerated the decades-long trend.
Retail sales at traditional brick-and-mortar stores still vastly outpace non-store sales. In May, they accounted for 82% of all sales even in the midst of the pandemic. Online sales accounted for the remaining 18%.
However, online sales were just 13% in February. Americans' shopping habits are slow to change. A jump of 5 percentage points in 3 months is a watershed shift.
Online sales’ 13% share of total sales in February was the record high up to that point. Online sales have been growing slowly but steadily since Internet use became widespread. In January of 2010, online sales were 8% of all retail. So they had grown 5 percentage points over more than a decade. That works out to half-a-percentage-point per year of growth.
In April, they spiked to more than 19% of all sales. In two months of the pandemic, online sales increased more than 6 percentage points as a share of retails sales, or more than they had in the previous decade.
May saw a pullback to that 18%, but online sales are still claiming a much larger share than they did before COVID-19 struck.
The shift back to shopping in stores will likely continue over the next few months as the Great Pause eases more and people seek a return to normalcy. However, it is likely that the pandemic has permanently increased the share of online buying. Businesses will need to adjust to this change.
–Curtis Dubay, Senior Economist, U.S. Chamber of Commerce
On Tuesday morning, the Chamber convened the first meeting of the International Policy Coalition on Sustainable Growth (CSG) with a webinar focused on sustainable trade. The event brought together experts from the business, think tank, and government communities to discuss balancing the imperatives of environmental protection and economic recovery in sustainable trade policies.
“The choice between environment and growth is a false choice,” said Kazuhiko Takeuchi, President of the Institute for Global Environmental Strategy, Japan. “We must balance globalization and sustainable growth to rebuild better after the pandemic.”
The discussion centered on sustainable economic growth and panelists agreed that a systemic approach spanning across diverse issue areas and geographic boundaries is required.
“Coronavirus has illustrated the need for systemic thinking. Health care, commerce, transportation systems, water management, and urban development all intersect with environmental issues,” said Gary Litman, Vice President for Global Initiatives at the U.S. Chamber.
The CSG will convene further virtual consultations to develop proposals in advance of the September G20 meeting. Further information on the Chamber’s sustainable growth Policy Pillars and Engagement Scope can be found on the CSG webpage at greengrowthpolicy.com or on the U.S. Chamber’s Sustainability and Trade Recommendations page.
Small Biz Perspectives
9 Funding Options for Minority-Owned Businesses
Tara Vance, the company’s corporate citizenship lead, discusses the highlights and challenges of volunteering virtually.
What will life inside the league's campus at Walt Disney World in Florida be like when play resumes?
read more
17-year-old Avi Schiffmann offers advice to anyone else interested in doing something similar.
Resources to help keep your business strong, prepared, and proactive.
1615 H Street, NW Washington, DC 20062