>>> THE SHOCK OF THE CORONAVIRUS PANDEMIC HAS BEEN BOTH MEDICAL
AND FINANCIAL.
AND FINANCIAL. ON THURSDAY WE LEARNED A
STAGGERING 3.28 MILLION
UNEMPLOYMENT CLAIMS HAD BEEN
FILED IN A SINGLE WEEK.
THE PREVIOUS HIGH SET IN 1982
WAS 695,000.
WAS 695,000. THIS AS BUSINESSES LARGE AND
SMALL AND ALL OF THEIR EMPLOYEES
WONDER WHAT THEIR FUTURE LOOKS
LIKE ON THE OTHER SIDE OF THIS
CRISIS.
CRISIS. WHENEVER THAT COMES.
NBC’S SENIOR BUSINESS
CORRESPONDENT STEPHANIE RUHLE
HAS OUR SUNDAY SPOTLIGHT.
>> Reporter: AS THE CORONAVIRUS
CONTINUES TO SEND SHOCK WAVES
ACROSS THE U.S., BUSINESSES BIG
AND SMALL HAVE ALREADY ADAPTED
THEIR MESSAGE.
THEIR MESSAGE. >> BETTER DAYS WILL TAKE SOME
WORK BUT RAM IS MORE THAN
WILLING TO DO OUR SHARE.
>> WE KNOW YOU MIGHT NOT BE
THINKING ABOUT BURGER KING.
>> USE DISINFECTING PRODUCTS
REGISTERED TO KILL 99.9% OF
BACTERIA.
BACTERIA. >> Reporter: MESSAGING ALONE
WON’T BE ENOUGH.
MASILLAE
MASILLAE MASILLAEOFFS AND THE POSSIBILITY
OF A MAJOR RECESSION HAVE
CONSUMER SPENDING GRINDING TO A
HALT WITH MILLION AMOF AMERICANS
WITH ORDERS TO STAY AT HOME,
RETAILERS ARE SCRAMBLING TO
ADAPT TO RAPIDLY CHANGING
CONSUMER HABITS.
CONSUMER HABITS. SEVERAL BRANDS ARE TAKING
ADVANTAGE OF THIS NEW WAY OF
LIVING, MEETING CUSTOMERS WHERE
THEY ARE.
THEY ARE. ♪ I SEE YOUR TRUE COLORS
SHINING THROUGH ♪
>> Reporter: ADVERTISING
EXECUTIVES SAY THIS CAN PROVIDE
A LITTLE RELIEF DURING TOUGH
TIMES.
TIMES. >> YOU WANT TO MAKE PEOPLE FEEL
BETTER AND YOU WANT THAT FEELING
TO BE ATTACHED TO YOUR BRAND.
YOU’LL MAKE PEOPLE FEEL BETTER
BY DOING THINGS, DOING THINGS
FOR THEM.
FOR THEM. >> Reporter: FAMED ENTREPRENEUR
MARK CUBAN SAYS BRANDS NEED TO
KEEP CUSTOMER CONCERNS TOP OF
MIND TO STAY RELEVANT.
HOW IMPORTANT IS IT FOR
COMPANIES TO SHOW THEY’RE GOING
THE EXTRA MILE NOW?
>> PEOPLE ARE VERY SOCIALLY
CONSCIOUS NOW.
CONSCIOUS NOW. THEY WANT TO KNOW THAT THE
BRANDS THEY ASSOCIATE WITH ARE
GOING TO COMPLEMENT THEM.
>> Reporter: ONE COMPANY MAKING
THAT CHANGE, NIKE, THE FITNESS
GIANT IS ROLLING OUT AN EXPANDED
VERSION OF THEIR ONLINE WORKOUT
PASS, NIKE TRAINING CLUB,
OFFERING FREE AND
SUBSCRIPTION-BASED SERVICES.
SUBSCRIPTION-BASED SERVICES. NIKE HAS CLOSED ALMOST ALL OF
ITS STORES BUT DIGITAL SALES ARE
UP BY OVER 40% AND APP USAGE UP
OVER 100%.
OVER 100%. OTHER MAJOR ONLINE RETAILERS ARE
HIRING BY THE THOUSANDS TO KEEP
UP WITH DEMAND, INCLUDING
WALMART AND AMAZON.
E-COMMERCE SALES OVERALL ARE UP
25% SINCE THE FIRST WEEK OF
MARCH.
MARCH. ONLINE GROCERY SALES HAVE
DOUBLED IN JUST A FEW WEEKS.
FOR BIG BRANDS THAT AREN’T AS
NIMBLE, THIS CRISIS COULD SPELL
DISASTER.
DISASTER. FOR FORMER RETAIL GIANTS LIKE
MACY’S AND JCPENNEYS WHO WERE
FACING DECLINING SALES, THIS
WEEK LOOKS DIRE.
MACY’S RELEASING A STATEMENT
SAYING, COVID-19 IS TAKING A
HEAVY TOLL.
HEAVY TOLL. THE DEPARTMENT STORE PUTTING A
FREEZE ON HIRING AND SPENDING.
SMALL BUSINESSES FACE THEIR OWN
UNIQUE SET OF CHALLENGES.
IT’S ALREADY BEING FELTED AT THE
DISHING DOCKS IN NEW JERSEY.
>> WE WONDER WHAT’S GOING TO
HAPPEN WITH OUR BEACHES, OUR
LIFEGUARDS, OUR EMPLOYEES, WHERE
THESE PEOPLE ARE GOING TO GO.
>> Reporter: THE FUTURE REMAINS
UNCERTAIN BUT EXPERTS ALREADY
PREDICT THE EFFECTS OF CRISIS ON
AMERICAN BUSINESS ARE LIKELY TO
BE FAR REACHING AND LONG
LASTING.
LASTING. >> WE SAW ALMOST 10,000 STORE
CLOSURES LAST YEAR, WE’LL SEE 15
TO 25,000 STORE CLOSURES.
THE SECTOR ESPECIALLY HIT,