(2 min read)
The recent outbreak of Coronavirus has a significant global impact. Intellizence monitors over a hundred business signals in thousands of companies every day, from a variety of unstructured sources (e.g. news, press releases, regulatory filings), and delivers insights for revenue generation and risk mitigation. We highlight a few signals across industries related to the impact of the Coronavirus outbreak.
- Major airlines across the world canceled/scaled-down flights from and to mainland China. According to the International Air Transport Association, in the ongoing coronavirus crisis, airlines operating in the Asia-Pacific region stand to lose a combined $27.8 billion of revenue
Retail Store Closing/Suspensions:
- Major retail brands have temporarily closed/are delivering food without contact in their retail operations in China
- Apple, Starbucks, McDonald’s, Ikea
Luxury Brands Sales Impact:
- Luxury brands warned about the potential sales impact
- Burberry, Canada Goose
Entertainment/Tourist Venue Closures:
- Popular entertainment/tourist venues closed their operations temporarily or canceled
- Shanghai Disneyland, Hong Kong Disneyland
Event/Conference Participation Cancellations:
- Companies are withdrawing from participating and exhibiting in leading conferences & events and/or reduced participation due to travel restriction
- Mobile World Congress, AAAI Conference, RSA, Global Marketing Summit, Hotel Restaurant, and Cafe expo
- Major automobile companies are reopening factories as they try to reverse a sales slump
- General Motors, Volkswagen AG, Ford Motor Co., Mercedes Benz, and Geely
Supply Chain Disruptions:
- The logistical struggle continues as China limps back to work
The team at Intellizence is saddened by the events around Coronavirus and our thoughts are with the families who lost their family members, friends and colleagues.
This article was updated on 21st February 2020 and is based on the information available on the companies’ website and news reported by reliable news websites.