On 14 April the IMF issued a stark warning that the global economy was potentially facing the worst recession since the Great Depression of the 1930s. In its April World Economic Outlook the IMF projected global growth in 2020 to fall to -3% as a result of the COVID-19 pandemic and global government actions for lockdown and social distancing. By comparison, the IMF’s year-on-year real GDP growth projection in 2009 following the 2008 financial crisis was -0.1%.
Businesses are being forced to either batten down the hatches and wait until the storm passes, or adapt their business models and find work arounds. What does this current environment mean for a company’s brand? What should a company be doing in these times to protect their branding, and what will the branding landscape look like post COVID-19?