Sponsorships Losses with Postponed Olympics

The International Olympic Committee the postponement of the 2020 Tokyo Summer Olympics, which disappointed the IOC but was a necessary decision amidst the global Covid-19 Pandemic. These committee organizers confirmed that these scheduled games will still take place in Tokyo, with delays sustaining twelve months. It’s expected that the Tokyo Summer Olympics won’t be held until July 2021. This is costing sponsors that supported this global venue, with it being assumed that they’ll demand interest compensation for the delays. It’d be a viable claim but unreasonable during the pandemic, as all sporting events have terminated their respective operations.

Joint statements were issued by the Tokyo 2020 Organising Committee and International Olympic Committee. It was noted that the specific circumstances of Covid-19 saw a continued influx of information from WHO officials. After substantial discussions were the Japanese Prime Minister and IOC President, it’s been determined that Tokyo’s XXXII Olympiad must be shut down. This joint statement confirmed that the venue wouldn’t be held any later than Summer 2021, that this decision was ultimately made to ensure the safety of athletes and employees. This extends towards everyone visiting or working under the Olympic Games globally.

Sponsor Rewards

IOC confirmed that the Olympic Torch would continue being lit before the venue is held. That means the Olympic Torches home in Tokyo will remain present for an additional twelve months. This should be relieving for merchandisers globally, who don’t have access to their manufacturing facilities. IOCs announcements followed after weeks of speculation indicated sponsors & advertisers with planned campaigns would lose their valuable investments. However, all previous sponsorship contracts will remain active under this postponement period. Corporations will receive their due advertisements by Summer 2021.

The corporations affected with their sponsorship campaigns for the 2020 Tokyo Olympics include Airbnb, Coca-Cola, Apple, Samsung, Canon, Fuji and Nikon. This marks the 1st time since World War Two that the Olympic Games were postponed. Additional game closures were conducted through WW1 as well. Though these corporations might be disappointed with their delayed advertisements, athletes and planned visitors have agreed with IOCs decision. These large-scale companies would’ve lost a substantial sum of money under this reformatted agreement, that being upwards of $75 million for Coca-Cola in 2020.

Product Makers Racing to Advertise as Coronavirus Killers

Global manufacturers behind household products are strategizing how they can advertise their brands as coronavirus killers. One corporation has begun implementing its strategy, with Reckitt Benckiser confirming that they have a strain of the coronavirus. Under scientific laboratory definitions, this virus is named SARS-CoV-2. Reckitt Benckiser Inc is using an independent lab to determine if their particular products can terminate this virus. Those products include Dettol and Lysol.

It’ll be challenging for Reckitt Benckiser Inc to stipulate their product can terminate the coronavirus. This extends to additional global manufacturers, with both the European Union and the United States defining that products wanting to make this claim must be regulatory-approved through a certified lab and have an effective rate of 99.9%. When the MERS-Coronavirus broke out in 2012, it became a substantial health concern with cleaning products unable to terminate 99% of the cells. It’s suspected that similar results will be seen throughout these laboratory tests. The novel coronavirus started in Wuhan and infected 100 nations worldwide.

Opportunistic Challenges

Whenever global pandemics occur, significant corporations often benefit in the long-run by providing solutions to consumers. Similar outcomes will follow with the coronavirus, as household brands can ensure the public a guaranteed way to fight this frightening disease. Reckitt could have to employ scientific engineers to create new cleaning solutions that are specifically targeted towards Covid-19. The cost would be substantial, but the payoff could be even more significant, with sustainable profits coming during the winter season if this virus became a yearly epidemic. Considering that Covid-19 shares similar genetics to Influenza, this is entirely possible.

When Reckitt Benckiser confirmed that they’d acquired a sample of the novel coronavirus, the immediate concern was regarded towards its transportation. Confirmations were made that WHO-Approved methods were implemented to ensure public safety. Many disinfectants will be used against this sample of the coronavirus, which will be completed after multiple duplications are created in a confined laboratory. Reckitt Benckiser did confirm that under the confirm none of their previous disinfectants work, new solutions will be developers to ensure consumers a fighting chance.

Shipping these potential cleaning solutions will be another logistical challenge for Reckitt Benckiser. Multiple forms of shipping have been terminated, with nations implementing travel restrictions on specific goods. Some countries determine cleaning supplies not to be a necessity.

Two New Cookies in the Spring

Consumers willing to purchase products through electronic retailers with the coronavirus pandemic will be treated to two new products, with the first being from Chips Ahoy. The cookie manufacturer announced that they’re releasing a new product with Hershey’s Milk Chocolate, with this confirming rumours that had been circulating the web for a short period.

Consumers familiar with this brand know that typically you receive chocolate chips within a Chips Ahoy. Going forward, this specialized product for the Spring will support chunks of milk chocolate manufactured by Hersey’s. Those that love their chocolate have the perfect flavour to enjoy with this upcoming product, which will be available through Amazon and Wal-Marts eCommerce Site.

It should be mentioned that this new product was announced through their respective Instagram, noting that an additional cookie would be coming with Reese’s Pieces Candy. Representatives from Chips Ahoy expressed that these products could become a regularly-available product if sales exceed expectations. Considering the period of release, the chances of increased sales are minimal.

Here Comes Peeps!

Another product is slated to release for the Spring Season, with Peeps announcing that they’ll be releasing frosted sugar cookies to grocery chains in the coming weeks. Consumers typically have strong opinions when it relates to Peeps and frosted sugar cookies, making this a somewhat odd combination. Food Product Analysts suspect that sales would’ve been minimal with limited consumers supporting the Peeps Frosted Sugar Cookies.

Going forward those sales are slated to be even smaller, with the coronavirus forcing declining sales worldwide. Those wanting to purchase this product through electronic retailers will receive Yellow Marshmallow-Flavored Cookies, which will have pink or blue icing with yellow chick-shaped sprinkles. It should be mentioned that these products are slated for the Easter Season and won’t be available year-round.

Those willing to risk engaging with public retailers can find these cookies at Target, Wal-Mart, Albertsons, Supervalu, Certco and Faraway. It’s suspected that the Peep Frosted Sugar Cookies will be available to consumers until June. Minimal exposure to this product is expected to have sales lower than $150,000.00 across North America. Following the COVID-19 Virus, this could be the worst financial season for Peeps in their brand’s history.

CMA Warns Retailers Amid Coronavirus

The Competition & Markets Authority provided an updated report regarding the coronavirus. Retailers and multiple brands have been warned by the governing entity not to exploit global citizens with coronavirus products. This follows after increased prices were seen on Wipes, Face Masks and Hand Sanitizers. It’s prompted for the CMA to begin monitoring pricing and sale practices, with them informing these retailers that severe action will be taken if they found breaking the law. Multiple corporations have provided misleading claims regarding the efficiency of their coronavirus products.

The Chairman for the Competition & Markets Authority, Lord Tyrie, spoke on this updated report. He expressed that as a governing entity, they’re doing whatever is required to terminate misleading claims. He noted that all tools are being utilized to advise global governments on further actions that can be taken against these illegal companies. That could include pricing with various products like Hand Sanitizer and Face Masks.

These company-based statements continued through Andrea Coscelli, the Chief Executive of the Competition & Markets Authority. She mentioned that they’ve urged retailers to behave responsibly, and that their current actions show irresponsibility with the coronavirus outbreak. Making these misleading claims is changing prices on products, forcing the CMA to remind the public of their obligation with reselling these goods as well. Masks have been found being resold through eBay, Kijiji, Amazon and Etsy.

The Advertising Standards Authority

It should be noted that the CMA isn’t the only governing entity to release legal warnings to retails. The Advertising Standards Authority also banned multiple face mask advertisements, which was using global fears to take advantage of increased profits. When the banning was implemented, the ASA found that these companies breached multiple contracts by justifying their advertisements concerning a global pandemic. These advertisements have increased by a daily percentage of 12.5% for the Advertising Standards Authority, bringing them concern that consumers will spend substantial funds for limited protection. All for the sense of peace of mind.

Corporations that received this warning report from the Advertising Standards Authority didn’t provide any public responses to the governing entity. This indicates that they don’t plan on stopping anytime soon. Even with social media platforms like Facebook and Twitter banning advertising regarding coronavirus products. It should be noted that multiple vegans have released “Herbal Medicines”, claiming that these All Natural Remedies will save them from the coronavirus. Though anybody falling for such a ridiculous claim somewhat deserves to be fooled.

LinkedIn Implementing Stories Feature

Since 2013 there has been a popular feature known as Stories. It’s been adopted by social media services like Instagram, Facebook, and Snapchat. It’s now one of the most popular ways of sharing personal information through your social media accounts, with now another service planning on implementing it to their platform. This will include the Microsoft owned LinkedIn

Unlike the standard rendition of Stories, this version will target business-oriented individuals, and they’re working relationships through this professional network. LinkedIn has already confirmed that this feature will not be prominent; they will be available to a select few through the beta mode. Regardless, LinkedIn has informed us that this will facilitate some of the critical moments for working events and business-related advice. Individuals using LinkedIn have already begun to praise the upcoming Stories feature.

Business analysts believe that LinkedIn has implemented this feature in hopes of acquiring a younger generation in the business marketing industry. This younger generation prefers to share their social media information in a manner; then it disappears 24 hours later. The benefit of this sort of feature for business executives using LinkedIn is a new level of discretion regarding their daily ventures.

Even though this level of discretion will be an essential aspect for countless users, the primary purpose for stories on LinkedIn is to inspire a higher level of interaction and conversation between business professionals. It should be noted that this feature is currently being tested internally and has it been provided with an official release date. Insiders close with LinkedIn believe it could come before the 3rd quarter in 2020.

The Featured Section

Stories isn’t the only new aspect of LinkedIn being released this year. They’ve also announced the featured section, which will allow you to display all your professional achievements and highlights to date. LinkedIn is providing this feature in hopes that it will employee searching less challenging, making it easier for users to be hired on their own merits.

The featured section also allows users to display critical aspects of their work. It will be the perfect way for users to showcase their experience and skillsets. Those wanting to use this feature can start today, it’s located between the activity section and profile image section. Users familiar with this platform will immediately notice the new featured section.