Global forecast revisions – covid-19
DuckerFrontier has revised down its forecasts for growth across a number of markets, including China, the US, as well as oil prices. The resulting slowdown in global growth will have ripple effects across a range of markets, hamper multinationals’ ability to hit targets for 2020 and upend corporate forecasts and business plans for the year. I addition to the demand, confidence, and supply chain disruptions caused by the spread of COVID-19, companies will now also have to address the currency depreciation caused by the combination of oil prices collapsing and global finical markets driving a flight to safety. As a result, pricing strategies and customer price sensitivity will be challenges firms need to address over the coming months, irrespective of the level of COVID-related problems in individual countries. Firms will need to revise targets and expectations for the year, address supply chain disruptions, re-prioritize markets that have resilient demand, and tackle credit and liquidity challenges of customers and distributors. Longer-term, companies will need to pressure test their investment strategies and investigate their supply chains to improve their resilience to shocks.
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