Uh-oh: Post-pandemic winnings will mostly go to ‘superstar’ companies, says McKinsey

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We’ve been watching tiny versions of this in our hometowns. Small businesses are devastated while the Walmarts of the world seem to be doing just fine. A new report from the McKinsey Global Institute highlights a troubling trend : The pandemic has spurred workplace efficiencies that will boost companies’ productivity (this is good!), but nearly all of those gains will be enjoyed by large, successful, “superstar” firms, and not shared across sectors and companies. You probably have questions. Read Full Story

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The role of marketers in a post-COVID-19 world

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30-second summary: Tamara Charm is a senior expert at McKinsey & Company and the co-lead for its Global Consumer Sentiment Survey. McKinsey launched the Global Consumer Sentiment Survey in mid-March across 40 countries to better understand how consumer sentiment and behavior were shifting, overall. The survey explores consumer sentiments in the age of COVID-19 including level of optimism, expected spend, expected income, new behaviors, and what consumers plan to do moving forward. Preliminary findings reveal that, as the progression of the pandemic moves through the globe, consumer sentiment is starting to waver. Nearly half of US respondents indicated they plan to cut back on spending and are being careful about how they spend their money. Globally, McKinsey’s research reveals consumers are cutting back on discretionary spending across all consumer categories, except for groceries and in-home entertainment. The hardest hit industries — based on intent to spend — were travel and …

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