Economic and Public Health Concerns Battle for Control in Week 13

  • Categories:

    COVID-19 Response

  • Date:

    June 12, 2020

Economic and Public Health Concerns Battle for Control in Week 13

COVID-19 Response

Week 13 taught us that even now, with spring officially coming to a close, a world facing a novel coronavirus is a world in constant flux.

Flux perfectly describes the current state of the home and building category, where home purchasing reached its highest level since January even as COVID-19 hampered contractors’ ability to obtain permits and complete inspections.

Meanwhile, despite most signs indicating that an economic comeback is beginning, public health is still a top concern. That’s especially true now, as protests nationwide bring hundreds or thousands of people — many of them upset — close together. Will this new variable lead to a resurgence of new COVID-19 cases? It’s hard to tell, but experts are keeping a close eye on the situation.

Need a quick rundown of the week’s major developments? These 10 factors paint a solid picture of the home and building category — and our country — almost halfway through June. For a closer look, download a free copy of our latest weekly POV.

As of June 10:

  1. Confirmed cases of COVID-19 in the United States topped 2 million, with total related deaths eclipsing 112,000. (Johns Hopkins)
  2. As protests continue, reduced social distancing could add significant time needed to flatten the curve again. (DNA Science)
  3. The tech-heavy Nasdaq composite, led by Apple and Amazon, briefly crested 10,000 for the first time ever (Business Insider), only to drop sharply on Thursday (CNN).
  4. Home purchasing continued its climb, increasing by 5.3% from the previous week. This activity marked the highest level since January. (National Association of Home Builders)
  5. Construction tradespeople reported fewer rescheduled, delayed or slowed projects. However, nearly 15% also reported that COVID-19 is making it more difficult to get permits and inspections done. (Silver Lake Media Group)
  6. DIYers are still at it — and this week, fewer of them are struggling to get materials needed to do the work. (The Farnsworth Group)
  7. Many U.S. adults are relaxing their reservations with sharing personal info to help stop the spread of COVID-19. (eMarketer)
  8. Publishers’ video ad revenue is increasing across Facebook, YouTube and Snapchat — owing to increased video production, higher viewership and more advertisers looking to reach a large audience. (Digiday)
  9. Minorities are more likely to catch COVID-19 as workers return to work. At least 40% of black and Hispanic households (compared to about one-third for all households) include at least one person who works in close proximity to other people, which increases risk. (Harvard’s Joint Center for Housing Studies)
  10. With an 18% jump in 2020, e-commerce is the only bright spot in a retail sector that could take years to recover. (eMarketer)

As a reminder, on a weekly basis, Wray Ward will continue to publish timely information, trends and advice related to the coronavirus.*

If you have questions or want to discuss specific next steps for your brand, please feel free to contact me.

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