60% of US business closures since March are permanent: Report

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Washington, Sep 17 | About 60 per cent of US business closures since March are permanent, indicating the devastating fallout from the Covid-19 pandemic, according to a new report.

“In the wake of Covid-19 cases increasing and local restrictions continuing to change in many states we’re seeing both permanent and temporary closures rise across the nation, with 60 percent of those closed businesses not reopening,” online review site Yelp said in its latest Economic Average Report on Wednesday.

As of August 31, 163,735 businesses on Yelp have closed due to the pandemic, up by 23 per cent since July 10, and 97,966 businesses have permanently closed, Xinhua news agency quoted the report as saying.

The restaurant industry continues to be among the most impacted by the pandemic, with 32,109 closures, 61 per cent of which are permanent, it said.

The report also revealed that the states of Hawaii, California and Nevada saw the most total business closures and permanent closures across the country.

The states also account for the highest unemployment rates in the US.

While rising business closures would cast a shadow on fragile economic recovery, the US administration and congressional lawmakers remain deadlocked over the next Covid-19 relief package.

Federal Reserve Chairman Jerome Powell said on Wednesday that more fiscal support is likely to be needed to support economic recovery as numerous small businesses are struggling, and state and local governments are in dire financial situation.

“It will take a while to get back to the levels of economic activity and employment that prevailed at the beginning of this year, and it may take continued support from both monetary and fiscal policy to achieve that.”

Source: IANS

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Policybazaar Unveils its new brand campaign "AapKiSideHai"

Policybazaar Unveils its new brand campaign

Akshay Kumar delivers the brand’s promise of always being on the customer’s side

Gurugram, 19th Sept, 2020: Policybazaar.com (Twitter handle: PolicyBazaar), India’s largest online insurance marketplace with over 10 million customers, showcases its commitment to customers in its new television campaign “AapKiSideHai”. The new ad campaign featuring Policybazaar brand ambassador, Akshay Kumar, highlights the brand’s promise of embracing a holistic customer centric approach while helping to bridge the insurance protection gap in India.

Policybazaar’sAapKiSideHai campaign seeks to reassure its customers on being a dependable Insurance partner for them, every step of the way. The brand has always focused on distributing products like term insurance, health insurance, zero commission ULIP’s and motor insurance that are optimal from a customer perspective. Policybazaar is now extending the brand promise beyond the purchase experience to ensure that consumers get the highest levels of service throughout the policy lifecycle.

The new brand campaign reinforces Policybazaar core value of putting the customer first by delivering on its promise of providing a trusted platform for all types of insurance products. The brand is committed to guiding the customer throughout the insurance journey, starting from recommending the right products at affordable pricing, ensuring thatthe policy issuance process is smooth and fast, and, to providing services and claims assistance when needed.

“While we continue to highlight the importance of Health & Term life Insurance through our marketing campaigns, with the brand promise of Policybazaar AapKiSideHai, we also intend to position Policybazaar as a customer centric brand, that is committed to stand by its customers, both pre and post purchase”, said Samir Sethi, Head of Brand Marketing, Policybazaar.com. The new ad series highlights Policybazaar’s unparalleled support to customers, while providing them with the ease of comparing and buying term and health plans online with guidance at each & every step.

Speaking about the TVC launch, Sharat Dhall, Chief Operating Officer, Policybazaar.com said, “Our ultimate aim is to provide 360-degree assistance to customers that starts from when the policy is bought, to provide assistance when the claim is paid out, should such a situation arise. Winning and maintaining customer trust is a strong ethos within the company and this campaign reflects that. At a time when the world is grappling with a crisis like no other, the brand intends to instill confidence in the customers’ buying decisions by assuring them protection of their futures with the right insurance products & thorough assistance throughout the journey.”

The new brand campaign in its series displays moments of indecision that people may have while investing in protection products. It addresses these queries &emphasizes the importance of nurturing a bond with the consumers thereby creating customer delight.

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