Managing the risk from coronavirus better
Contain the risks of the coronavirus pandemic. Find ways to continue in business to try to survive and prosper. What should business owners and risk managers do during the coronavirus COVID19 pandemic.
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2nd July 2020 Demand For Thermal Devices Jumps Exponentially As Coronavirus Spreads Exponentially
Companies like FLIR Systems provide various kinds of devices that read body temperature from near or far. Sales of such devices due to coronavirus has soared.
24th June 2020 Naked Wines Sales Jump More Than 80 Percent Higher Due To Coronavirus Lockdown
People locked out of pubs and restaurants have drunk considerably more at home. Naked Wines is just one of the businesses to benefit financially from coronavirus pandemic lockdown. It was so busy it was forced to stop taking on new customers in March and even temporarily stopped taking new orders.
The chief executive is hoping his new customers will stick with his online wine business when pubs and restaurants open on 4th July.
Naked Wines was set up in 2008 and merged with Majestic Wine Warehouse in 2015. Majestic then rebranded as Naked Wines.
23rd June 2020 Food Retailers And Convenience Stores Have Dramatically Grown Their Revenue and Profit From Coronavirus Pandemic In UK
Those with home delivery options have particularly benefited. Many have increased their capacity to deliver to the home. It will be interesting to see home much home delivery and convenience shopping continues as the UK lockdown eases.
Ocado home delivery business share price has increase by 42 percent in the last 12 weeks during the pandemic crisisResearch firm Kantar
Ocado has benefited from a change of food shopping habits in UK during pandemic. However 19 million more supermarket trips were made in the most recent four weeks of easing lockdown measures compared to stricter measures in May. Will fear of supermarket shopping in person maintain home deliver option? Has the change of shopping habit just been about fear or will people still shop online for food for convenience?
Convenience store sales have increased. From the corner shop family owned business to chains like Iceland shoppers have boosted their sales.
Iceland sales rose by 31.4 percent over the 12 week period of pandemic lockdown meaning that Iceland has now reached its previous all time high UK food market share of 2.5 percent.Kantar
Most supermarkets in UK upped their revenue during the UK epidemic. This raises the question on whether most food retailers have been indulging in price inflation or are people in UK just eating and drinking more!
Has food outlets and restaurants have been largely closed during the pandemic consumers have had to feed themselves. This should be the reason of increased food retailer sales rather than price inflation. Low UK inflation levels backs this up.
It is likely that from the 4th July more food outlets and restaurants will reopen. This will impact adversely on food retailers. How much is unclear. However the pandemic has been great business for UK food retailers.
21st June 2020 Booking A Holiday Summer 2020 Is To Become Real Option
Whether it is a staycation or a holiday abroad the rapidly changing coronavirus pandemic outlook will allow many to take a holiday this summer.
Spain has announced that from today it will allow UK tourists to visit Spain without having to quarantine on arrival. Coming back from Spain would require you to self isolate at home for 14 days due to UK quarantine rules. However the UK quarantine rules will be reviewed on 29th June and are likely to be eased. Travel corridors are expected to be opened in agreement with some countries that are visited often by British tourists like Spain Portugal Greece France and Italy.
As it stands the UKs advice to citizens is not to travel anywhere abroad unless it is essential travel. A holiday is not regarded as essential travel. Even within some parts of the UK it is recommended to not travel far. Presently the rules as not to stay in holiday accommodation overnight. However this to is likely to be eased from early July. A staycation within the UK is on the cards this summer if you can afford a holiday.
If you own a hospitality related business restaurant pub hotel holiday accommodation tourist attraction etc now is the time to fight for your business. In March this summer looked like an economic wash out. However the UK government and governments around the world are going to open up borders and hospitality economy.
If you want to survive to fight another summer this summer and right now in particular is the time to be innovative expansive and assured.
- Make sure your business is Covid19 secure and safe within the government the current and future guidelines. 2 metres social distancing in UK will soon become 1 metre. Know what this will mean for your business and be ready to change adapt and seize the benefits of shorter social distancing.
- Make sure you are promoting and marketing your business to grab whatever summer income is coming.
- Make sure you do not suck every last drop of new and old custom.
The people and the businesses in hospitality and entertainment this summer should be able to survive any summer. Make sure you are one of the survivors this summer.
12th June 2020 UK Consumers Are Getting Fitter And Sporting Equipment Suppliers and Retailers Have Boosted Their Revenue From Coronavirus Pandemic
Research from Emarsys found consumer spending on sporting equipment nearly doubled this year compared to same time in 2019.
Best selling products have been trainers and sports bras.
26th May 2020 Make Sure Your Business Has V-Shaped Recovery From Pandemic
Some businesses in UK have benefited massively from the coronavirus pandemic. They will tell you they have never been busier. From new home delivery income to increased demand for service they are pandemic economic winners.
If you have not been so fortunate it is still possible to return to the same economic activity your had before the pandemic. It may require more adjustment innovation and creativity but it is possible your business will look back on the pandemic as no more than a blip.
Some businesses will come out of the pandemic even stronger for reasons that include the elimination of industry competitors. Not every business will survive the pandemic. This will mean that the same demand for products and services with fewer suppliers will push up prices and business profits. Make sure your business survives and if possible prospers from the pandemic.
1oth May 2020 How Does The UK Want To Live and Work Post Pandemic
No one wanted the Covid19 pandemic. Now it is here it is likely to stay well into 2021 and perhaps beyond. We have some time to think about what we should not continue with post pandemic.
- What things did we do in business do we need to change to produce same outputs more efficiently?
- What things do we need to stop doing and stop producing?
- What new things do we need to start doing to produce new outcomes?
Every major disaster presents the opportunity to think about creating a better world to live and work in. The pandemic is no exception. Now governments are pumping money into their economies they should think about how to use the money to create more positive change for the future instead of simply creating a life support system for what was not really that great pre pandemic.
8th May 2020 Businesses Selling Seeds See Jump In Demand Due To Coronavirus
Exceptional demand for seeds by people who want to grow their own food has resulted in some seed suppliers having to close their online sales for most of the day as they cannot cope with the number of orders.
7th May 2020 UK Bike Sales and Bike Servicing Services Are Booming In The UK As People In Lockdown Get On New Or Old Bikes
People in the UK looking to boost their fitness have provided a massive opportunity to bike retailers.
6th May 2020 China Can Pull Out Of Nosedive Into Economic Oblivion and So Can The Rest Of The World
Countries like Brazil India and Russia are only just start to feel the pain of the coronavirus pandemic or at least reveal their pain. Others like China have hit the wall but are making it to the end.
There is economic life after the pandemic
Volkswagen reports that sales in China are bouncing back. This is in part due to the virus not because Volkswagen has put virus behind it. People in China are less keen on public transport cause they still fear it. China has the virus spread under control but fear of the virus can be as economically as damaging as the reality of the virus.
The solution for people in China and the opportunity for Volkswagen is that people in China are switching to personal vehicles away from public transport. What this does for the climate will be a problem for later but not much later.
Sales of passenger cars in China rose year on year in last week in April. VWs Chinese budget brand Jetta had picked up market share after the country eased lockdown rules. Jetta in the first month of reopening has been a very very strong month of car sales.Juergen Stackman VW sales and marketing executive
He thinks Chinese economy will follow the V shape through the pandemic in China. He does not seen V shape recover in Europe. If Europe had acted quicker and locked down harder it might have too. Europe still has the opportunity to at least have W shape recovery with repeated locking and unlocking of pandemic risk management measures. China has chosen a better path.
USA is and is likely to continue suffering most. Its desire to open up will extend the economic and human pain and suffering not reduce it. However they will not discover that for a couple of months yet.
Germany may well see a similar V shaped recovery as it did react quickly and deployed extensive test track and trace pandemic risk management measures. Germans are queuing up to buy VWs ID 3 electric car.
Other Northern European countries in Scandinavia may also return to economic normality quicker.
Selling more cars is actually more about selling more car finance deals
Volkswagen is adapting its financing and leasing offers to make downpayments more accessible. VW financing offers will be stretched to 72 months instead of 36, and Volkswagen will offer unemployment insurance which allows new car buyers to suspend payments if they lose their job.
In other words business leaders may need to repackage the selling of their products and services to entice fearful consumers out of their economic pandemic bunkers rather than wait for the good old times to return post pandemic.
Financing will become the main instrument for the industry in the months to comeJuergen Stackman VW sales and marketing executive
The banking and finance industry actually has a massive opportunity in front of it due to the virus. Dare we say it a form of personal protective insurance that economically covers unemployment could sell like hotcakes and be profitable assuming bankers do not screw up the selling of it this time!
Not only would bankers make billions from selling insurance they can protect their balance sheets from loans not repaid due to unemployment. Plus their customers might thank them for providing quiet nights sleep safe in knowledge their loans will be repaid if they are made unemployed instead of suing banks for mis selling PPI. Even bankers cannot be that mad to repeat PPI scandal. Can they!
23rd April 2020 UK Businesses Opening For Business Include DIY Retailer B&Q and Aston Martin Luxury Car Maker
B&Q is reopening 75 UK stores. They will maintain social distancing by limiting the number of customers in store at any one time. There is slightly mixed message here as you are allowed to buy hardware products to use at home but lockdown guidelines say you cannot buy paint to paint your house! In addition B&Q can sell plants but garden centres are not allowed to open.
Hardware stores were included on UK government list of essential retailers that were allowed to trade under the restrictions.BusinessRiskTV
23rd April 2020 House Builders UK Continue To Sell Houses But With Aid Of Virtual House Viewing and Reservation Technology
House builder Taylor Wimpey has continued to sell houses despite lockdown restrictions to prevent the spread of the coronavirus and the closing of its business locations. It has reported a year on year rise in house sales.
Taylor Wimpey has a new viewing and digital reservation process which helped increase its order book. Its sales teams have been selling homes remotely and digitally.
Taylor Wimpey is to resume construction on the majority of sites in England and Wales from the the 4th May.
21st April 2020 Electronic Gadgets Sales Boost From Coronavirus
Bloomberg reports that Nintendo have asked suppliers to boost production of the Switch as global demand surges according to people familiar with the matter.
Playstation will be another product which will have seen sales skyrocket as people trapped at home around the world look to play games with people around the world.
It is highly likely that electronic gadgets will have received sales on a par with Christmas. Whilst most Tech manufacturers also received production interruptions due to coronavirus lockdowns in Asia. It is likely that overall the pandemic will turn out to have been a major boost to sales without needing to develop new product lines. The old products have filled a gap in the lives of many people stuck and bored at home.
In addition many such tech also facilitates access to livestreaming video content with major global content providers including films documentaries and education.
As major economies like China Germany and USA start their effort to return to work such demand may actually dip but the ability to fulfil orders will increase. Although workers are returning to work everywhere in the world will struggle without a vaccine to return to normal. Many people will still want to self distance at home for safety for many months yet. Rejuvenated old tech gadgets will still be popular online purchases.
9th April 2020 Ferrari is piloting a Back On Track project to conduct voluntary screening of employees and their families for coronavirus Covid19 when the factories in Italy reopen on 14th April.
Ferrari is working with a team of virologists and safety management experts to create a safe working environment even when Italy has not stopped infections and spread of virus.
Ferrari will also use an App to track the contacts of those involved in the initiative to enhance health monitoring. The Ferrari coronavirus App will help monitor and contain the emergence of any new infections amongst employees.
8th April 2020 BMW To Start Manufacturing Face Masks
BMW face masks produced will be used by own staff and to protect the public against the spread of the new coronavirus. World Health Organisation WHO coronavirus protection guidelines have changed recently to recommend the wearing of face mask. Previously the wearing of face mask was at best regarded as inadequate and at worst could even make it easier to contract virus.
BMW would soon produce several hundred thousand masks per day.BusinessRiskTV
BMW normal vehicle production at factories in Europe has stopped and the stoppage has been extended by two weeks until 30th April.
8th April 2020 ICL Tech Has Changed Production To Supply Personal Protective Equipment PPE
ICL Tech normally provides plastics for the transport oil and gas and financial sectors but has diversified its operations to accommodate NHS needs. It has increased visor production in the past week from 750 visors a day to 3000.
8th April 2020 Mercedes F1 Boosts Business For Peter Day Precision Engineering
Peter Day Precision Engineering business has been boosted by an order for thousands of valves needed for Mercedes F1 breathing aids for Covid19 patients.
7th April 2020 SEAT Automotive Business Using Windscreen Wiper Mechanism To Build Emergency Ventilators For Spanish Healthcare Fight Against Coronavirus
Ninety percent of the materials used to make ventilators are the same that SEAT uses to make SEAT Leon. The ventilator motor is the windscreen wiper motor of the car.
6th April 2020 Apple To Make One Million Protective Masks Per Week For Health Workers
Apple has already delivered the first of its protective masks to a hospital in USA. It has brought together medical professionals the USA government its own designers all parts of its organisation and suppliers to make critically important non core product at speed and en mass. Apple is also planning to manufacture and distribute face shields.
3rd April 2020 Burberry Is Making Healthcare Gowns Instead Of Fashion Clothes
31st March 2020 Ineos Builds Hand Sanitiser Production Plant Within 10 Days
Ineos has started producing a million pocket bottle hand sanitiser units a month. They target recipients for the new production capability are NHS workers and care workers.
The new Ineos plant is at Middlesbrough and is a 24 hour production operation.
30th March 2020 A breathing aid that can help keep coronavirus patients out of intensive care has been created in under a week by University College London engineers working alongside clinicians and Mercedes Formula One
Other Formula 1 teams are working with Rolls Royce and Airbus to manufacture ventilators within days to provide for the coming coronavirus pandemic storm of critically ill in the UK.
19th March 2020 Meggitt Leading A Consortium Of UK Suppliers To Rapidly Develop and Produce Ventilators That UK Hospitals Need
Meggitt is an aerospace and defence component manufacturer.
The UK government is working with a number of manufacturers to repurpose their manufacturing to supply thousands of ventilators needed within just a few weeks. The UK government is committed to buying any ventilators and other medical supplies produced.
The UK only has around 5000 ventilators and may need in excess of 20000. Many more people could die from the lack of ventilators rather than the fact they have contracted the virus.
In Italy a businessman hearing a shortage of parts for ventilators within days designed a 3D print of the parts neededBusinessRiskTV
Business leaders around the world have the creativity and innovation to solve demand and supply problems very quickly.
18th March 2020 Pound Falls To Lowest Level Against The Dollar In 34 Years
Part of survival and prosperity plan for UK business should still be to export more particularly to USA. With such a low value of the pound this is an opportunity not be be missed if you can possibly avoid it.
17th March 2020 Amazon UK Stops Receiving Non Essential Products From Sellers Amid Coronavirus Outbreak
Amazon UK is to be congratulated for changing its sales strategy in light of pressures on society from coronavirus pandemic.
Amazon Inc is suspending sellers from sending non essential products to its USA and UK warehouses until April 5 to free up inventory space for more critical supplies that are in shortage as a result of the coronavirus outbreak.
Amazon is seeing increasing online shopping demand from consumers for household staples and medical supplies which are running out of stock.
Amazon defined five categories as essential products that can continue shipping including Baby Product Health and Household Beauty and Personal Care Grocery Industrial and Scientific and Pet Supplies.
Sellers supplying products that are deemed non essential could see their products run out of stock and they will be unable to restock as a result of the pandemic risk management control measure. Suppliers can use other fulfilment methods including mailing products direct to customer.
17th March 2020 Morrisons To Recruit 3500 To Expand Home Delivery To Combat Coronavirus Demand
Clearly Morrisons makes money out of this but it also provides a valuable additional resource to protect people in their homes from coronavirus and therefore also protects people not in their homes too.
Morrisons will introduce more slots for customers and new ways of delivering groceries which will include helping vulnerable people and those affected by the virus.
Morrisons will also launch a customer call centre for orders to be taken over the phone so that people who do not shop online can still order food to be delivered.
Other measures include asking customers at the checkout to pay if possible by card or smartphone to reduce cash handling.
17th March 2020 A Small British Company Previously Making Honey and Gin Starts Making Alcohol Based Hand Sanitiser Products
There is national and global shortage of hand sanitiser due to the coronavirus pandemic. Is it profiteering switching manufacturing output to meet the demand in the marketplace? Of course not. There are no losers only winners.
The British Honey Company in Buckinghamshire will start producing hand sanitiser after receiving permission from UK treasury.BusinessRiskTV
The British Honey Company will continue to produce its core products but maximise profitability by expanding into hand sanitiser products that will help protect people in UK and beyond from coronavirus COVID19.
Being able to produce such an in demand product within our existing capabilities enhances our existing business model at the same time as assisting with the efforts to combat the spread of Covid-19.Chief Executive Michael Williams The British Honey Company
If you can produce cleaning products personal protection equipment ventilators or parts thereof then you need to heed the UK governments appeal to produce products and services that will help save lives whilst you help protect your business. Its time to think how you can help others and help your business in the process.
Amazon is hiring 100000 new staff in USA to cope with increased sales due to coronavirus as people order more online to avoid close contactBusinessRiskTV
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