COVID-19 Cases: The Pandemic’s Future Hangs In Suspense

An illustration of coronavirus cases and hospitalizations overlaid on a photograph of a medical professional looking out a window.

COVID-19 cases dropped about 5 percent this week, while testing rose 12 percent as backlogs in reported tests—always a little slower to recover than reported cases—rolled in following disruptive mid-February storms. The number of people hospitalized with COVID-19 dropped almost 16 percent week over week, making this the seventh straight week of sharp declines in hospitalizations. States and territories reported 12,927 deaths this week, including a substantial backlog from the Commonwealth of Virginia.

4 bar charts showing weekly COVID-19 metrics for the US. Cases fell nearly 5% this week while testing was up over 12%. Deaths continued to drop week over week.

The decline in cases has been a point of confusion in the past week, as daily reports briefly jogged up after a large drop following the long Presidents’ Day weekend and disruptive winter storms in mid-February. A look at percentage change in reported cases since November 1 helps illustrate the dips and rises in reported cases seen around Thanksgiving, Christmas, New Year’s Day, and—more recently—the winter storms in mid-February. (On November 8, California did not report data in time to be included in our daily compilation.) Cases may plateau or rise at any point, and a close watch of the numbers is essential as vaccinations roll out alongside the spread of SARS-CoV-2 variants. But we would urge data watchers to be wary of conflating reporting artifacts with real changes in the state of the pandemic.

Bar chart from Nov 1, 2020 - Mar 3, 2021 showing the daily percent change in the 7-day cases average. The 7-day avg rose for a few days a week ago, but this was likely due to storm reporting impacts.

Although it seems unlikely, based on current figures, that a new surge is showing up in the case numbers, it is quite possible that case declines are beginning to slow. With reported tests up 12 percent this week—likely also because of a storm-related dip and rise—it’s impossible to be certain whether the case decline is slowing because of an increase in testing, or because disease prevalence itself is declining, albeit more slowly. We can look to other metrics, however, to help us interpret the past two weeks of case numbers.

One way to confirm that a change in reported cases—especially one preceded by a disruptive event like a holiday or a major storm—reflects reality is to look at new hospital admissions. This metric, which is available in the federal hospitalization data set, has tracked very closely with cases since the hospitalization data set stabilized last fall, but has not shown the same vulnerability to reporting disruptions produced by holidays or severe weather. Charting federal case data against new-admissions data shows that the decline in new admissions continues, though slightly more slowly than the decline in cases.

Two line charts showing federal COVID-19 data: 7-day average cases over time and 7-day average hospital admissions over time. Admissions are dropping in recent days while cases hit a small plateau due to reporting artifacts.

This signal helps confirm that the brief rise in daily reported cases in the past week was very unlikely to signal a new surge in cases—though, again, cases may not be dropping as quickly as they were in late January and early February. It’s nevertheless important to note that cases remain extremely high, and have only this week dipped below the peak of the summer’s case surge. (Though we’re almost certainly detecting a larger percentage of cases now than we were in the summer, as our testing capacity in the U.S. has increased.) The sustained decline in cases and hospitalizations is very encouraging, but with multiple variants of SARS-CoV-2 gaining footholds in U.S. cities, it remains vitally important to further reduce the virus’s spread via masking, social distancing, and avoiding indoor gatherings.

Although it may seem that the decline in hospitalizations is slowing down in recent weeks, the percentage decrease remains robust.

Bar chart showing daily percent change in the total number of patients currently hospitalized with COVID-19 in the US. This figure has been falling by a consistent percentage in recent weeks (around 2.4 percent)

Reported COVID-19 deaths, too, continue to decline. The particularly sharp drop in the week beginning February 11, which included Presidents’ Day and the beginning of the winter storms that affected data reporting in many states, was balanced by a smaller drop in the week of February 18. This week, deaths dropped by an encouraging 11 percent.

2 bar charts one on top of the other - the first showing the percentage change in weekly COVID-19 deaths in the US, the second showing just those weekly deaths. Deaths fell 11% from last week

It’s important to note that many states have recently added large numbers of COVID-19 deaths from previous months to their totals. In Virginia, cases and hospitalizations have been dropping for weeks, but after reporting fewer than 100 deaths a day for the entirety of the pandemic up to this week, the Commonwealth is now reporting hundreds of deaths every day—most of which occurred in December and January.

4 daily bar charts with 7-day lines overlaid showing key COVID-19 metrics for Virginia since the beginning of 2021. Deaths have spiked drastically in recent days - however, these deaths are reconciled from older dates and do not reflect the true state of COVID-19 fatalities in VA at the moment.

The addition of these backlogged deaths—like the 4,000 deaths from previous months recently reported by Ohio—obscures the reality of rapidly declining recent deaths. It also underlines the fact that deaths at the peak of the winter surge were actually much higher than the already-devastating numbers reported in December and January.

For the week ending February 25, COVID-19 deaths in long-term-care facilities have continued to decline as a share of all COVID-19 deaths in the U.S. (As we did in last week’s analysis, we have excluded from this chart all data for four states—Indiana, Missouri, New York, and Ohio—that recently added large numbers of undated deaths from previous months to their totals. The addition of these historical death figures to recent weeks made it impossible to follow recent trends at the national level without this exclusion.)

Bar chart showing the share of weekly COVID-19 deaths occurring in LTC facilities. The percentage is down to 13% in the most recent week after being over 30% for months.

It’s our final week of compiling and interpreting data here at the COVID Tracking Project, and we’ve spent much of the past few weeks explaining how to use data from the federal government in place of our patchwork data set. We’ve packaged up everything we’ve learned about federal case numbers, death numbers, hospitalization data, and testing data, as well as long-term-care-facility data. For more casual data users, we’ve also written a short primer on how to find easy-to-use charts and metrics from the CDC. It’s even possible to replicate three-quarters of our daily four-up top-line chart using data from the CDC, although the data are one day behind the state-reported data we compile.

4 charts showing key COVID-19 metrics over time from the CDC: Cases, Hospitalized, Hospital Admissions, and Deaths. All 4 charts show a declining trend.

In this version, new hospital admissions are included instead of tests—test data are available from the federal government, but are not in a date-of-report arrangement that matches the other top-line metrics. (We’ll be publishing a separate post showing how to produce this visual within the next few days.)

Long-term-care data wrap-up: Tonight marks our final compilation of data at the Long-Term-Care COVID Tracker, and we’ve just published a look at the subset of long-term-care-facility data available in the Centers for Medicare and Medicaid Services Nursing Home data set. This federal data set includes only nursing homes and accounts for about 27 percent of all COVID-19 deaths in the U.S. to date. The long-term-care data set we stitched together from state reports, by contrast, includes assisted-living facilities where states report them, and accounts for at least 35 percent of all U.S. COVID-19 deaths.

Race and ethnicity data wrap-up: For 11 months, we have shown that the COVID-19 race and ethnicity data published by U.S. states are patchy and incomplete—and that they nevertheless have indicated major inequities in the pandemic’s effects. Both of these things are true of the demographic data available from the CDC: Many data are missing, and what data are reported show ongoing disparities. Our introduction to the federal data will be posted later this week, and we’ll be publishing deeper analyses in the coming weeks.

As we wind down our compilation efforts, the United States is at a crucial moment in the pandemic: Decisive action now is our best chance at preventing a fourth surge in cases and outpacing the variants, which may be more transmissible than the original virus according to preliminary (preprint) data. Over the weekend, the FDA issued a third Emergency Use Authorization for a COVID-19 vaccine, this time for Janssen/Johnson & Johnson’s adenovirus vector vaccine, which showed impressive safety and efficacy results in its global clinical trials. The Biden administration announced Tuesday that the U.S. should have enough COVID-19 vaccine doses for every adult by the end of May—a dramatic acceleration from previous timelines.

Meanwhile, concerns over an uptick in variant cases are growing in Florida after researchers noted that 25 percent of analyzed samples from Miami-Dade County’s Jackson Health public hospital were cases of B.1.1.7. Although partnerships between the CDC and other labs have increased the number of specimens sequenced from about 750 a week in January to 7,000–10,000 a week in late February, this still allows for the sequencing of less than 3 percent of all cases in the United States.

Bar chart with genomic sequencing volume from the CDC. Sequenced specimens peaked at 7,000-10,000 per week in February
Genomic sequencing volume chart from the CDC

New York City has promised to quadruple the number of samples it sequences during the month of March, from 2,000 to 8,000 a week, which is more than the entire country’s labs sequenced in the week ending February 27.

Today’s weekly update is our 39th and last. We began writing them back in June 2020 as a way of offering a deeper interpretation of data points that was less jittery than those in the daily tweets. As we puzzled through the data and watched for indications of changing trends, we’ve tried to help people understand what has happened to us as the pandemic has ebbed and surged.

Although our data compilation will come to an end on Sunday, March 7, our work at the COVID Tracking Project will continue in other forms for another few months, as our teams complete their long-term analyses and wrap up documentation and archiving efforts. We’ll continue to post our work on the CTP site and link to it on Twitter until we finally close up shop in late spring.

Throughout the year that we’ve compiled this data, we’ve tried to explain not only what we think the data mean, but how we came to our conclusions—and how we tested and challenged our own analyses. We hope that one result of our doing this work in public is that our readers feel better prepared to do the same for themselves and their communities.

The federal government is now publishing more and better COVID-19 data than ever before. Some gaps remain, but far fewer than at any previous moment in the pandemic. To those of you who have relied on our work this year, thank you for your trust. We’ve tried very hard to deserve it, and we believe that we’re leaving you in good hands.


Mandy Brown, Artis Curiskis, Alice Goldfarb, Erin Kissane, Alexis C. Madrigal, Kara Oehler, Jessica Malaty Rivera, and Peter Walker contributed to this report.

The COVID Tracking Project is a volunteer organization launched from The Atlantic and dedicated to collecting and publishing the data required to understand the COVID-19 outbreak in the United States.

Source: COVID-19 Cases: The Pandemic’s Future Hangs in Suspense – The Atlantic

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5 Things You Shouldn’t Do During a Recession

In a sluggish economy or an outright recession, it is best to watch your spending and not take undue risks that could put your financial goals in jeopardy. What happens to the economy during a recession can negatively impact your personal finances and wealth. However, by being prepared and taking a few simple steps to reduce your risks, you can improve your chances of weathering the financial decline. Below are some of the financial risks everyone should avoid taking during a recession. 

Key Takeaways

  • When the economy is in a recession, financial risks increase, including the risk of default, business failure, and bankruptcy.
  • Avoid increasing, and if possible reduce, your exposure to these financial risks.
  • For example, you’ll want to avoid becoming a cosigner on a loan, taking out an adjustable-rate mortgage, and taking on new debt—all of which can increase your financial risk during a recession.
  • If you’re an employee, you’ll want to do everything you can to safeguard your job, such as performing top-notch work and improving your productivity.
  • If you’re a business owner, you might need to postpone spending on capital improvements and taking on new debt until the recovery has begun.

Becoming a Cosigner

Cosigning a loan can be a very risky thing to do even in flush economic times. If the individual taking the loan does not make the scheduled payments, the cosigner could be responsible to make them instead. During an economic downturn, the risks associated with cosigning a note are even greater, since the person taking out the loan has a higher chance of losing their job—not to mention the cosigner’s own elevated risk of ending up unemployed.

Cosigning potentially leaves you on the hook for the life of a loan. Consider other ways to help the borrower if you can.

That said, you may find it necessary to cosign for a family member or close friend regardless of what is happening in the economy. In such cases, it pays to have some money set aside as a cushion. Or, instead of cosigning, it may even be preferable to assist with a down payment or other types of assistance rather than leaving yourself on the hook for a cosigned loan on an ongoing basis. 

Taking out an Adjustable-Rate Mortgage

When purchasing a home, you may choose to take out an adjustable-rate mortgage (ARM). In some cases, this move makes sense (as long as interest rates are low, the monthly payment will stay low as well). Interest rates usually fall early in a recession, then later rise as the economy recovers. This means that the adjustable rate for a loan taken out during a recession is nearly certain to rise. 

While interest rates usually fall early in a recession, credit requirements are often strict, making it challenging for some borrowers to qualify for the best interest rates and loans.

But consider the worst-case scenario: You lose your job and interest rates rise as the recession starts to abate. Your monthly payments could go up, making it extremely difficult to keep up with the payments. Late payments and non-payment can, in turn, have an adverse impact on your credit rating, making it more difficult to obtain a loan in the future.

Instead, assuming you have decent credit, a recession may be a good time to lock in a lower fixed rate on a mortgage refinance, if you qualify. However, be cautious about taking on new debt until you see signs the economy is recovering.

Taking on New Debt

Taking on new debt—such as a car loan, home loan, or student debt—need not be a problem in good times when you can make enough money to cover monthly payments and still save for retirement. But when the economy takes a turn for the worse, risks increase, including the risk that you will be laid off. If that happens, you may have to take a job—or jobs—that pay less than your previous salary, which could eat into your ability to pay your debt.

In short, if you are considering adding debt to your financial equation, understand that this could complicate your financial situation if you are laid off or have your income cut for some reason. Taking on new debt in a recessionary environment is risky and should be approached with caution. In the worst-case scenario, it could even contribute to bankruptcy. Pay cash if you can, or wait on big new purchases.

Taking Your Job for Granted

During an economic slowdown, it is important to understand that even large corporations can come under financial pressure, leading them to reduce expenses any way they can. That could mean scaling back on operating expenses, cutting dividends, or shedding jobs.

Because jobs become so vulnerable during a recession, employees should do all they can to make sure their employer has a favorable opinion of them. Coming to work early, staying late, and doing top-notch work at all times is no guarantee that your job will be safe, but doing those things does increase your chances of staying on the payroll. From an employer’s perspective, it makes more sense to cut marginal workers rather than reduce hours or wages for their more productive employees. Make sure that you are not a marginal worker.

Taking Risks With Investments

This tip applies to business owners. While you should always be thinking about the future and investing in growing your business, an economic slowdown may not be the best time to make risky bets. Early on in a recession is not the time to stick your neck out. Later, as soon as the economy starts to show signs of sustainable recovery, is the time to start thinking big when prices for capital purchases and labor costs for new hiring are low. 

Especially avoid investment projects that would require you to take on new debt to finance.

For example, taking on a new loan to add physical floor space or to increase inventory may sound appealing—particularly since interest rates are likely to be low during a recession. But if business slows down—another side effect of recessions—you may not have enough leftover at the end of the month to pay interest and principal on time. Wait until interest rates just start to tick upward and leading economic indicators for your market or industry turn up

The Bottom Line

There’s no need to live a monk’s existence during an economic slowdown, but you should pay extra attention to spending and be wary of taking any unnecessary risks. Even in the midst of a significant economic downturn, there are many positive steps you can take to improve your situation and recession-proof your life. These include implementing a realistic budget, establishing an emergency fund, and generating additional sources of income.

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Understanding Recessions

Effect on the Economy

Effect on Businesses

Investing During a Recession

History of Recessions

Recession Terms A-F

Recession Terms G-Z

The Shapes of Recession Recovery

Nearly Half of Business Owners Think the Changes They’ve Made During the Crisis Will Be Permanent

A few months ago, it was easy to think that this would all be temporary — that after a few weeks, students would go back to school, parents would return to work and restaurants, bars and public spaces would be able to reopen. Of course, more than five months into widespread stay-at-home orders, business owners (and the rest of us) have come to terms with this new reality. 

In a survey of more than 2,000 small business owners conducted by OnePoll on behalf of Zapier, 44 percent of respondents said they believe the changes they’ve made to their businesses in the past few months are here to stay. 

Related: According to His Tweets, Bill Gates Is Way More Stressed Out Than Elon Musk (Infographic)

For many small business owners, that means they’re trying to learn new technologies, taking on more administrative tasks and trying to bring in new revenue, which is the number one worry among business owners surveyed. Twenty-four percent of business owners say they’re spending more time on administrative tasks than they ever have before. 

“Small business owners are focused on ways to stay afloat right now, while also navigating the challenge of an ever-expanding to-do list,” Zapier spokesperson Carly Moulton said in a statement accompanying the report. “As tedious but necessary admin work piles up, it leaves less time to focus on strategies that meet revenue challenges head on. It’s no surprise a quarter of SBOs theorized they’d be less stressed if they didn’t have to sweat small, repetitive tasks.”

For more insights on how small business owners are feeling right now, read through the below infographic. 

Related: How the Behavior of Job-Seekers Has Changed Since February (Infographic) https://www.dianomi.com/smartads.epl?id=3483

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The Biggest US Banks Have Some Bad News About The American Economy

1

First the good news: The biggest US banks have had time to brace themselves for a wave of losses.

The bad news: They are still bracing themselves to withstand a wave of losses. Their earnings this week suggest the worst is yet to come for the American economy, and that Washington may need to provide even more support for workers and businesses.

Six of the biggest lenders all expect heavy credit defaults and soured loans, as shown by their loan loss provisions, which jumped 43% from the already hair-raising totals in the first quarter to a combined $36 billion in the second quarter.

Loan loss provisions aren’t, as they sound like, a special pot of money set aside for when loans go bad. It’s more like the amount of money banks expect to lose on their loans; it demonstrates the losses their capital may have to absorb in the months ahead and is subtracted from their earnings.

Approaching the moment of truth

For now the dire picture is merely a forecast.

Four months after lockdowns started smothering the world’s largest economy, bank losses have barely ticked up. JPMorgan Chase, for example, reports that charge-offs in its consumer business are little changed from a year ago.

Meanwhile, banks with powerful trading desks profited as stock prices gyrated and companies flooded the bond market with borrowing. JPMorgan said its markets unit had a record $9.7 billion of revenue, a 79% increase from 2019. Morgan Stanley had record profit, while Goldman Sachs said its fixed-income, currency, and commodities division had more than $4 billion of sales, its best quarter in nine years.

bestmining780

The big consumer lenders have yet to be battered by defaults and missed payments because of a ferocious wave of government support—including more than $2 trillion of aid to businesses and the unemployed—and because the banks themselves have offered forbearance and paused loan repayments for some of their customers. Bank of America said it has handled around $30 billion of requests for loan payment deferrals since the crisis set in, and that those requests have fallen by 98% since they peaked in April.

“You look at the banks and they are preparing of Armageddon and nothing is going wrong yet,” says David Ellison, a portfolio manager at Hennessy Funds. He’s optimistic the lenders can work through heavy credit losses—they got a lot of practice in 2009—but they will still have to contend with low interest rates, which makes their bread-and-butter lending businesses less profitable. They also increasingly have to compete with private equity firms that often target the same commercial clients.

If the government doesn’t agree on ways to continue supporting the economy as the initial relief programs expire, “things could start to fall off” for the banks, Ellison says. “And that’s where the banks are saying, ‘If that happens I have to be prepared for it.’”

JPMorgan Chase added $6.8 billion to its credit reserves and is more pessimistic about the economic downturn than it was three months ago. It expects heavy losses in the coming months that extend into 2021. “May and June will prove to be the easy bumps in terms of this recovery,” CFO Jennifer Piepszak said in an earnings call this week. ”And now we’re really hitting the moment of truth, I think, in the months ahead.”

Bank of America’s top executive expects the recession to extend “deep into 2022.” On an earnings call today (July 16), CEO Brian Moynihan said the lender expects US unemployment to end the year at 10% before gradually declining to 7.5% in 2021.

Wells Fargo, Citi

Not quite everything is gloomy. Wells Fargo CEO Charles Scharf said debit card spending made it back to pre-Covid levels in May; in the last week of June, debit card spending was up 10% from a year ago. But credit card spending remained subdued, some 10% lower in June from a year ago. Transactions using commercial cards were even weaker, down 30% during the last week of June, he said.

 

Citigroup’s CEO thinks the economy will only limp forward until a vaccine is available. “Normalization to me is, am I willing to get on the airliner, am I willing to get in a subway, am I willing to go into a crowded venue to watch a sporting event or a concert or what it may be,” Citigroup chief Michael Corbat said this week in an earnings call. “And I think realistically, when we get to that third bucket, I just don’t see that coming. And I would say many don’t see that coming until we feel like there’s an antivirus vaccine that’s available for the mass population around that.”

In the meantime, the carnage is expected to be widespread. Banks around the world are forecast to have more than $2 trillion in credit losses through 2021, according to analysts at Standard & Poor’s. Some $1.3 trillion of those losses are anticipated to come this year, more than double that of 2019.

“The unprecedented level of fiscal support that many governments across the world have deployed in response to the pandemic-related slowdown has been a key factor in supporting their citizens and economies during lockdown periods,” the S&P analysts wrote. “Perhaps the greater danger at this time is the reduction of such support too early, resulting in a longer and deeper economic contraction.”

It’s not clear that officials in Washington, having already committed trillions of dollars, are ready to spend even more. Beefed-up unemployment benefits have been a key plank of America’s response to the crisis, providing an extra $600 a week to workers who qualify. That program will fade away at the end of July unless politicians agree on a way to extend the aid. The government also dished out half a trillion dollars of loans through the Small Business Administration (SBA) to keep businesses afloat—a program that was built on the fly and riddled with inefficiencies but is widely credited with helping to keep the economy afloat.

Karen Mills, who ran the SBA during the Obama presidency, says more money is urgently needed for small enterprises. She forecasts that as many as 30% of these little operators are at risk of closing their doors for good. “We know already there are a number of businesses on the edge,” she said. “The next tranche of funding from the government is critical.” Critical to small businesses, certainly. And also important for their banks.

By John Detrixhe

Source: https://qz.com

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The Growing Importance of Utilizing eCommerce in Europe Ahead of a Recession

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Oftentimes in the business world, change is forced by necessity. The havoc wreaked by COVID-19 has sent shockwaves throughout world economies and the coming months look set to bring a recession that will dwarf the 2008 financial crisis.

European markets will be among the hardest hit by financial hardship in the coming months. As the continent that’s been significantly affected by the COVID pandemic, international trading and production have largely ground to a hal–leaving brick-and-mortar businesses hamstrung by the circumstances.

It’s imperative that businesses continue to find revenue in spite of the restrictive climate. So it’s perhaps no surprise that 20 percent of micro-businesses in the UK have already set themselves up with an online presence for the first time in a bid to innovate their way to survival. According to Business Matters, a further 45 percent have turned to social media, and almost half have stated that they’ve improved their online capabilities.

As Europe faces up to a period of sustained hardship, an already competitive retail landscape will see widespread losses. The importance of businesses making a successful and productive transition into eCommerce is vital–but it’s also full of hurdles to overcome from both a mechanical and marketing point of view.

Recreating digital rapports.

Taking the step of transitioning into a solely digital business isn’t limited to micro-businesses. The Financial Times has reported on a number of prestigious brands attempting to recreate in-store customer experiences online.

bitmax2Brands and retailers have taken different approaches to maintain contact with customers despite the interruption of lockdown measures. Many brands have looked to social media platforms, where companies have the potential to engage directly with their target audiences and generate interest digitally.

Omega and Zenith have both utilized Instagram Live to hold ‘Speedy Tuesday Live’ and ‘On Air’ events respectively that help consumers interact directly with brand ambassadors and partners as if they were in a brick-and-mortar store.

Elsewhere, brands like Cartier launched a new website for the purpose of showcasing their new designs, while Breitling live-streamed a presentation fronted by Mr Kern, who explained: “We had huge visibility from it – in the hundreds of thousands. Our server imploded and we had to move to YouTube.”

Indeed, visibility has become essential in the online practices of all companies across Europe and beyond at a time where physical locations will remain largely closed and austerity may soon occur.

Building appeal in wider markets.

Europe is facing its worst-ever recession, reports the New York Times. With forecasts of a 7.4 percent economic collapse, it’s inevitable that there will be widespread bankruptcy and unemployment.  With borders remaining closed to visitors, businesses can find new customers by developing a digital presence that can cater to wider markets.

Strategising a transition toward digital marketing can be tricky for small businesses, and it’s important to pay attention to data before attempting to connect with customers. Given the level of competition that’s arriving online for many similar businesses, it’s imperative to work on an online strategy that can help to identify and cater to target markets.

With the physical closure of marketplaces, many businesses’ online visibility will hinge on the content they create and their categorisation by search engines like Google. Creating eye-catching and engaging content can make a significant difference to the marketing efforts of an online business. The use of keywords can help Google to categorise content and display topics that are relevant directly to customers in order to attract them to the right website to make a purchase before they’re drawn to that of a competitor.

Making your social presence felt.

The appeal of social media for businesses looking to grow their presence online is vast. In the first half of 2020, as many as 3.5 billion people have been clocked logging into social media platforms on a daily or weekly basis. Such mind-boggling figures show that it’s essential for businesses to utilise these platforms in the time of recession.

Once again, organic presence can play a significant role in positioning a business directly in front of the right customers at the right time. This is because searchable, keyworded content can work wonders in drawing in audiences, while hashtagging and social sharing are both excellent ways for helping a company to go viral.

An emerging trope for modern companies is to enlist the support of “influencers” who will actively promote products or services to their huge network of followers, at a cost. The more organic approach of actively engaging with customers and upholding their satisfaction levels can be optimised through social media, too.

Adapting to survive.

Europe is faced with a testing series of months and years before a full recovery can be achieved if it’s at all possible.

The survival of businesses will hinge on their adaptability in stepping away from traditional brick and mortar stores and transitioning into digital markets that can interact and sell to customers around Europe and the rest of the world.

Building an online presence is key, and enlisting some SEO tactics can go a long way in making a company more visible online. In a hyper-competitive marketplace, it’s never been more important to evolve and adapt to keep ahead of the competition.

Dmytro Spilka

By:

Source: https://www.entrepreneur.com/

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Apr.28 — European Commissioner for Economic and Financial Affairs Paolo Gentiloni discusses the economic fallout of the coronavirus pandemic and plans for a European Union recovery fund. He speaks with Bloomberg’s Francine Lacqua on “Bloomberg Surveillance.”
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