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Photos and videos of empty grocery store shelves where toilet paper, paper towels, hand sanitizer and more would typically be stocked have circulated after people responded to COVID-19 fears with panic buying, or bulk buying. Some stores are enforcing quantity limits on certain items and asking people to leave stock for the next person, explaining that their supply chain has not been disrupted. During a time of stress and uncertainty, how do we ease our fears and avoid a counter-productive and potentially selfish bulk-buying response? Baylor University’s Jim Roberts, Ph.D., The Ben H. Williams Professor of Marketing in the Hankamer School of Business, is an internationally recognized expert on consumer behavior and the effects of consumerism and technology on individual happiness. During a brief Q&A, he gave insight to how panic buying content on social media can actually reinforce fear and gave advice on reducing anxiety. Q: Do you see a connection here between consumerism and safety or perceived safety? A: Yes, we call it mortality salience. When we are reminded of our own mortality, we search out products that give us comfort. We naturally buy more when we are threatened. We often seek comfort in our spending particularly in times like these. Some products have practical value, but a shopping cart full of toilet paper is addressing some deeper existential fears as well. Q: There have been a lot of photos floating around online of empty shelves in grocery stores. Is social media affecting panic buying? A: The media benefits from creating hysteria — more people watch and listen when they are frightened. There is something called the availability bias that can explain why we are so fearful. We view things that we have been recently exposed to as more prevalent than they really are. Q: How can people navigate social media during this time in a healthy way? A: Step away from it. Cut back on media exposure and distract yourself by trying to ease others’ burdens. If you turn off your TV and avoid social media you will reduce your anxiety level. Take the emphasis off yourself and you will reap psychological benefits. ABOUT JIM ROBERTS, PH.D. Jim Roberts, Ph.D., The Ben H. Williams Professor of Marketing in Baylor University’s Hankamer School of Business, is a nationally and internationally recognized expert on consumer behavior and has been quoted extensively in the media. He has appeared on CBS’ Early Show, ABC’s World News Tonight, ABC’s Good Morning America and NBC’s The Today Show. He has been quoted and/or featured in The New York Times, The Wall Street Journal, USA Today, National Public Radio, Cosmopolitan Magazine, Glamour and U.S. News and World Report, among many other newspapers, magazines, websites and television outlets. ABOUT BAYLOR UNIVERSITY Baylor University is a private Christian University and a nationally ranked research institution. The University provides a vibrant campus community for more than 18,000 students by blending interdisciplinary research with an international reputation for educational excellence and a faculty commitment to teaching and scholarship. Chartered in 1845 by the Republic of Texas through the efforts of Baptist pioneers, Baylor is the oldest continually operating University in Texas. Located in Waco, Baylor welcomes students from all 50 states and more than 90 countries to study a broad range of degrees among its 12 nationally recognized academic divisions. ABOUT HANKAMER SCHOOL OF BUSINESS AT BAYLOR UNIVERSITY At Baylor University’s Hankamer School of Business, integrity stands shoulder-to-shoulder with analytic and strategic strengths. The School’s top-ranked programs combine rigorous classroom learning, hands-on experience in the real world, a solid foundation in Christian values and a global outlook. Making up approximately 25 percent of the University’s total enrollment, undergraduate students choose from 16 major areas of study. Graduate students choose from full-time, executive or online MBA or other specialized master’s programs, and Ph.D. programs in Information Systems, Entrepreneurship or Health Services Research. The Business School also has campuses located in Austin and Dallas, Texas. Visit www.baylor.edu/business and follow on Twitter at twitter.com/Baylor_Business.
Replacing in-person events in the wake of COVID-19
As the world deals with the COVID-19 outbreak and normal activities are curtailed with social distancing and self-isolation, businesses and marketers are having to adapt quickly. Last week, IDC Canada hosted a webinar around "Digital Transformation and the Evolving Tech Buyer's Journey: What Canadian Marketers Need to Know". The question that was top of mind - "In the wake of Covid-19, what are some of the alternative ways of generating leads when live events are not possible?" Our experts suggested four key points during the webinar: 1. Explore virtual platforms - The experience can’t fully replace in-person events but virtual platforms can help you engage with your prospects and customers. 2. Alternatives to in-person events - Webcasts and audio podcasts designed to educate buyers and bring in customer and 3rd party perspective help you stay top of mind. 3. Interactive content – Buyers are demanding interactive and visually appealing content. Interactive tools and microsites that have been wrapped with analytics provide marketers with the performance insights needed to optimize impact. 4. Cut through the noise - Targeted industry or role specific messages will have more impact in uncertain times. Watch now the webcast on-demand If you are interested in learning more about these techniques - then let us help. Julie Tiley is the Vice President, Custom Solutions for IDC Canada. She is an expert in the areas of developing and delivering programs designed around on specific business goals, especially in a rapidly changing environment like the one we are facing today. Julie is available to speak with media or anyone interested in knowing more. Simply click on either expert’s icon to arrange an interview or email askidc@idccanada.com.
Is it time to shelve the 2020 Summer Olympics? Let our expert explain what’s at stake
The Olympic flame finally touched down in Japan this week, but as opposed to the global fanfare and growing excitement about this summer’s Olympic games – there’s a lot of talk about cancelling or at the very least postponing the event until the COVID-19 global pandemic subsides. With virtually every sport across the planet on hiatus or cancelled for the season, the decision seems like an obvious one. But perhaps not? With countries around the world battling to contain the coronavirus pandemic, there are growing calls for the International Olympic Committee (IOC) to either postpone or outright cancel this year's summer Olympics, which are scheduled to begin on July 24 in Tokyo. Here are some of the issues surrounding a possible postponement: Is it even possible for the Olympics to be postponed? The answer is yes, but it's complicated. Japan's Olympic Minister Seiko Hashimoto has said that Tokyo's contract with the IOC states that the Games must be held during 2020. That would give organizers leeway to at least push the starting date back. In the past, the IOC has been adamant that the Games would open July 24. The Paralympics are scheduled to start Aug. 25. "The IOC remains fully committed to the Olympic Games Tokyo 2020, and with more than four months to go before the Games, there is no need for any drastic decisions at this stage; and any speculation at this moment would be counterproductive," the statement said. Postponing the Games would have ramifications on TV rights, sponsor contractors, transportation and managing the workforce needed for an event like the Olympics. March 20 - CBC There are billions of dollars at stake for the host country and for the International Olympic Committee. But with countries already pulling out or refusing to send athletes, what decision the IOC eventually makes will likely see a less than gold-standard showcase of the world’s elite competitors. If you are a journalist covering this topic – then let our experts help. Professor Andrew Wonders joined the faculty of the School of Business Administration at Cedarville University in 2013 following a 13-year career in the sport industry. He is an expert in the areas of major sporting events and the business of sports. If you are looking to arrange an interview with Professor Wonders – simply click on his icon to arrange a time.
What fate awaits Florida’s tourism industry?
As the ripples from the COVID-19 pandemic stretch across all of America – popular attractions like Disney are closed, airlines are restricting travel and borders are being shut. All of this could amount to economic freefall for a state like Florida that relies on the more than 126 million tourists that visit the state each year injecting more than $40 billion annually into the economy. The coronavirus is hitting the economy in Central Florida hard, with several counties missing out on millions due to conventions and events being canceled. Orange County officials said the county has lost more than $280 million due to conventions being canceled amid fears of the coronavirus, and it could lose even more. Several Central Florida cities and counties have declared states of emergency. President Donald Trump declared a national emergency. Channel 9 spoke with financial advisers on the impacts the coronavirus could have on Central Florida. “Because we are highly reliant on tourism and leisure, we could see a potential financial slowdown in Central Florida. The scope and magnitude will be dependent on how long it takes to peak and level out. We are already seeing the effects with the closure of theme parks, cruises, flights, professional sports,” said Dale Crossley, a financial adviser. March 13 – ABC News At the moment, it seems there is no end in sight and for the hotels, theme parks and countless other destinations and small business that rely on tourists to stay afloat, there’s concern about who will be left standing once life returns to normal, or at least a new normal. There are a lot of questions that remain: How long can the marquee destinations like Disney and Universal Resorts remain closed? Are there any substantial bailouts or government assistance to be expected? Once travel resumes, what will it take to assure visitors of their safety? And, can we expect incentives from industry or the government to lure people, and their wallets back to the Sunshine State and what will they look like? If you are a journalist looking to cover this angle of the COVID-19 pandemic – then let us help. Peter Ricci is a clinical associate professor and director of the Department of Marketing and Hospitality Management in FAU’s College of Business. He is a hospitality industry veteran with more than 20 years of managerial experience in segments including food service, lodging, incentive travel, and destination marketing. Peter is available to speak with media about this topic – simply click on his icon to arrange an interview.
Here’s practical advice for teaching online, from an expert at the IU Kelley School of Business
The Kelley Direct online MBA program at the Indiana University Kelley School of Business consistently is ranked No. 1 by U.S. News and other news organizations. Sarah Smith-Robbins, director of learning technologies at Kelley, can discuss the transition that many colleges and universities are having to make, from in-person to online instruction. She offers these tips: Don’t try to recreate your classroom: “Learning online is different, just as holding a virtual meeting is different from an in-person meeting. Both residential class meetings and virtual class meetings have their drawbacks and their benefits. Take advantage of those benefits. For example, in an online meeting, more than one student can ask a question at a time in the chat. They can even answer one another’s questions there without interrupting the instructor. It’s also far easier for students to get together as teams and collaborate when they’re all online. Encourage them to do so.” Let your hair down just a little: “Virtual class meetings allow you and your students to see one another in a different setting than in a classroom. Personalize the space that students see behind you when you’re on camera. Let them know a little bit about who you are that you wouldn’t typically be able to share. Login to live sessions a bit early to chat casually with students who are there. That informal communication matters.” Consider the wide range of student circumstances: “Some students may have gone home to a fast internet connection and a great computer. Others may have to park their car in a parking lot to access free WIFI on a borrowed laptop. In either circumstance, your students want to learn. Do what you can to meet them where they are. For example, if you’re posting a pre-recorded lecture to your course, record it in a few short videos rather than one long one. The file sizes will be smaller and students will still see the whole lecture. If you’re planning to host live class meetings, understand that not all students will have the bandwidth to attend or might lose their connection in the middle of class. Post a recording of the session afterwards so everyone can participate. If you can cut the recording into several small videos, even better.” Learn from other instructors: “It’s not often that faculty sit in on one another’s residential classes. In a typical semester, you may have little reason in to compare notes on teaching methods with other faculty. However, you now have a perfect reason to compare what you’re doing to ensure that your students continue to learn. Why not practice holding online meetings by meeting with fellow faculty to share ideas about converting your courses to online delivery? Make use of your department’s mailing list to ask questions and learn from one another. If you’ve taught online before, offer yourself as a resource to faculty in your department who haven’t.” Think of it as an adventure: “Though the situation that brought us to this point of teaching online at short notice is dire, we’re all in it together. No one expects your online course to be perfect. Consider it an adventure that you and your students are on together. They’ll forgive your mistakes and make a few of their own. Connecting with one another, even online with a few hiccups, will go a long way to ensuring that students still feel connected, considered, and cared for.” Smith-Robbins can be reached at 812-855-9310 (w), 317-985-7200 (m) or sabsmith@indiana.edu. She requests that people email her first to schedule an interview, due to her efforts assisting faculty.
Expert available to discuss how economic impact of COVID-19 may vary across the country
Retailers such as Macy’s, Nordstrom and Urban Outfitters have announced they will temporarily shutter stores and car maker Honda will close six U.S. plants for a week. Earlier, in-person service at restaurants and bars was ceased. R. Andrew Butters, assistant professor of business economics and public policy at the Indiana University Kelley School of Business, cautions against making general assessments about COVID-19’s economic impact across the country. “Assessing the economic impacts of this pandemic -- and the range of policy responses enacted -- or being considered; however, might be harder to predict and have the potential to be even more uneven. For instance, take the most recent response of closing in-person dining at bars, and restaurants after the first confirmed death in Indiana was announced on Monday. Citing the of example restaurants, “According to the most recent economic census data, on the dimension of annual sales per capita coming from restaurants and other eating establishments, the state of Indiana is less dependent on this sector of the economy than other neighboring states Illinois and Ohio, that have enacted similar responses. On this particular dimension, one could view the economy of Indiana being somewhat insulated relative to its Midwest neighbors. “In sectors like airline travel and hotels, net bookings are down across the board -- and at unprecedented levels. How long travelers stay at home will have a lasting impact on the distribution of foregone revenues experienced at restaurants, bars, and hotels across the country. “An empty seat, or hotel room, contributes zero to GDP. This is especially true in a country like the US, as the demands for air travel and lodging vary across different parts of the country. Some areas of the country with peaks in demand over the spring months (e.g. Arizona and Florida) are likely to be especially vulnerable. Other areas with peaks in travel and recreational demand later in the year, (e.g., some areas of New York and Minnesota) might be less impacted, if the health concerns of travel are mitigated over the next couple of months. “There are many factors one can point to as contributors to a sharp rebound in economic activity, after the impact of the health concerns of the virus are subdued. These factors include the current personal savings and unemployment rates. As more varied -- and reflective -- economic and financial data comes in from areas affected by the global supply chain/consumption disruptions created by this virus (see, e.g., Brave-Butters-Kelley Business Cycle Indices and National Financial Conditions Index), it will be imperative that public policy makers work in concert with the most recent assessments of the depth and duration of this crisis to ensure the stabilization of local and national economies.” Butters can be reached at 812-855-5768 (o), 630-699-4868 and rabutter@indiana.edu.
A Letter to our Valued Customers
As I write this letter, I can’t help but think of how much the world we live in has changed over the course of a few short weeks. Like you, IDC Canada is carefully evaluating the ever-changing situation related to COVID-19. It is truly an unprecedented situation. The market is extremely fluid, and each day we are carefully balancing our commitment to providing the tools our customers need to Plan, Market and Sell, all the while mobilizing our entire Canadian workforce remotely. As a valued partner of IDC, we want you to know that we are here and we are ready to engage with your teams. Together we can navigate the “what’s next” in the Canadian ICT marketplace using our dedicated team of Canadian Analysts. The underpinning of IDC’s business has always been our data, our forecasts and our in-depth knowledge of the ICT markets. Be assured that our teams are working overtime to assess the impact on the Canadian ICT market, and more importantly, what the implications are to you, our valued partners. Many customers have also reached out to ask how to adjust their customer interactions and continue to drive their business forward. Marketers are under fire to find new ways to stay in touch with customers and target new prospects remotely. The good news is that IDC Canada has been providing effective virtual event services like webcasts, audio podcasts and other compelling assets for many years now. We offer a wide range of digital assets that will keep you in touch with your customers and help you generate leads. As we continue to learn more through monitoring the COVID-19 outbreak, we understand that “customer experience” in extraordinary times means working with our customers and partners in new ways. Now more than ever, we will navigate this situation together. If there are things you need from us or additional ways we can support you, please let us know. We remain committed to helping Canadian Businesses through this challenging time. Please look for more detailed insights on the effects of the COVID 19 virus on the Canadian ICT market in the form of IDC research documents and webcasts next week. Feel free to reach out directly to your IDC relationship manager or through our inquiry desk at askidc@idccanada.com at any time. Kind Regards and Stay Safe, Lars Goransson Managing Director, IDC Canada idc.com/ca
Baylor Gerontology Expert Shares Tips to Care for Aging Population During Coronavirus Pandemic
“This is not a vacation from caring; it is a time when caring is needed most of all,” social work professor says The Center for Disease Control and Prevention (CDC) has announced that older adults and people who have serious chronic medical conditions such as heart disease, diabetes and lung disease are at a high risk for the coronavirus. The virus hit hard in late January at a nursing facility in the state of Washington, where a number of residents died. As a result, the CDC has recommended strong restrictions on visitors to long-term care facilities, and the health organization continues to preach limited physical contact and “social distancing” – creating intentional space of six feet or more between each person – to stem the spread of the virus. James Ellor, Ph.D., The Dorothy Barfield Kronzer Endowed Professor in Baylor University’s Diana R. Garland School of Social Work, is an expert on working with older adults as well as disaster behavioral health. He said it’s important in this time of uncertainty to continue to support and minister to those older adults who are self-isolating in their homes and those in long-term care facilities. “Remember, no one stops caring about others just because germs are in the way,” Ellor said. “Express your caring in appropriate ways. This is not a vacation from caring; it is a time when caring is needed most of all. We also know that prayer is very important. Hold the person in prayer and let them know you are doing so.” In the following Q&A, Ellor shares tips on how to care for this population during this time. Q: What are some ways we can check on older relatives and neighbors without using physical touch and interaction? A: There is a fine line in this unknown time between caution and paranoia. Respect for each other’s boundaries is the critical value. It seems very awkward to want to affirm someone, yet not shake their hand. However, we need to use our words and ask what the other person is comfortable with, and by the same measure, let them know what you are comfortable with. At this point, the most obvious ways to check on people is through social media or paper and pencil. Drop them a note, call them on a phone, use other social media devices as appropriate. I would suggest that if you normally visit them, say on Fridays, be sure to continue to do that, albeit by phone or even just drop them a card. Q: If people have chosen to self-isolate or if they’re scared to venture out due to this health crisis, what are some ways people can help? A: Be consistent. If you have a pattern, continue the pattern. Remember the principles above. If the person is feeling out of control, talk quietly with them and offer them a card or other gesture of caring. Q: Can you explain the importance of personal interaction for people who are shut in? A: People with human contact simply live longer than those completely cut off from the world, with few exceptions. While about 15 percent of older adults are “shut in,” only about 5 percent are bed bound. That means that persons who are dependent on oxygen, for example, will be in their house, but not in bed. They depend on all of their outside contacts. Keep your normal visiting pattern, albeit with a card in the mail or phone call. If you are a member of a church, have the youth group use some of their extra “stay at home” time to make greeting cards intended to cheer up a person in your church or group that is home bound. Older adults like tactile things, particularly if they are sensory-impaired. If you make a card, put a feather in it, or some other feel-good item. If you are purchasing a card, there are some that have things in them that you can feel, or even hear. Some cards will allow you to record a short message. Q: Since so many long-term care facilities now have strict rules about visitors, are there any ways that people can interact or show support to residents in a safe manner? A: Most facilities are cutting off all contact from the outside. Only their own staff, physicians and hospice nurses are being allowed in. Even social workers, chaplains and other clergy are being kept out. In the Waco area, physicians are being screened for a fever or cough and could be turned away. As such, phone calls, cards and letters are all important. Several facilities in this area have begun to put room numbers on the windows of their facility, so that family can come by and wave through the window. Persons in long-term care facilities, even those with dementia, will pick up on the anxiety of the staff and especially the TV, which is often on all the time. A person with dementia may not be able to understand the anxiety but will be anxious when others are anxious. This makes the job of staff that much harder. Q: Anything else you’d like to share? A: The workers at these homes have a much harder job now. Don’t hesitate to send them a card or a treat if it can be obtained safely. Staff, even the people at the door telling you that you can’t come in to see your loved one, have a tough job now and need extra support from everyone. ABOUT JAMES ELLOR, PH.D. James Ellor, Ph.D., serves as professor and The Dorothy Barfield Kronzer Endowed Professor in Family Studies in Baylor University’s Diana R. Garland School of Social Work. works with older adults around issues of mental and spiritual health. He has served on the executive committee of the Midwestern Geriatric Education Center and provided education, counseling, and planning for individuals and groups who work with seniors. His research includes work in entrostomal therapy, hunger, the church as service provider, spiritual assessment, and intervention techniques with cognitively impaired older adults. ABOUT BAYLOR UNIVERSITY Baylor University is a private Christian University and a nationally ranked research institution. The University provides a vibrant campus community for more than 18,000 students by blending interdisciplinary research with an international reputation for educational excellence and a faculty commitment to teaching and scholarship. Chartered in 1845 by the Republic of Texas through the efforts of Baptist pioneers, Baylor is the oldest continually operating University in Texas. Located in Waco, Baylor welcomes students from all 50 states and more than 90 countries to study a broad range of degrees among its 12 nationally recognized academic divisions. ABOUT THE DIANA R. GARLAND SCHOOL OF SOCIAL WORK AT BAYLOR UNIVERSITY Baylor University’s Diana R. Garland School of Social Work is home to one of the leading graduate social work programs in the nation with a research agenda focused on the integration of faith and practice. Upholding its mission of preparing social workers in a Christian context for worldwide service and leadership, the School offers a baccalaureate degree (B.S.W.); a Master of Social Work (M.S.W.) degree available on the Waco or Houston campuses or online; three joint-degree options, M.S.W./M.B.A., M.S.W./M.Div. and M.S.W./M.T.S., through a partnership with Baylor’s Hankamer School of Business and George W. Truett Theological Seminary; and an online Ph.D. program. Visit www.baylor.edu/social_work to learn more.
COVID-19 disrupting supply chains across the globe
The spread of COVID-19 has disrupted supply chains across the world. Mohan Tatikonda, Indiana University Kelley School of Business professor of operations management, says if a company hasn’t felt the impact yet, it will. Tatikonda says supply chains are resilient — but only for so long. He also explains the pandemic will not only cause supply side issues, but also demand issues. For example, if people are working from home, they will consume fewer products and services in certain categories – like gasoline. This means less revenue, and in some cases, less work for workers and less income. Tatikonda is available to speak to reporters about what happens when there are supply chain disruptions -- If you would like to speak with him, please contact Teresa Mackin at tmackin@iu.edu or 317-274-2233.
COVID-19, cancellations and closings -- What do business owners need to know?
It might feel like 2008, but it’s not. “Expect coronavirus fears and behavioral changes from consumers to cause a sudden recession, but it won’t last long,” says Phil Powell, Indiana University Kelley School of Business associate dean of academic programs in Indianapolis and clinical associate professor of business economics and public policy. “I expect the economy will bounce back fairly quickly, and we could see some normalcy in the economy and the markets by May or June." Powell can speak to what business owners and consumers should know and do – and the economic impact of cancellations. If you would like to speak with Powell, please contact Teresa Mackin at tmackin@iu.edu or 317-274-2233.