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Lots of companies are announcing results showing how consumers are reacting to social distancing. Sales of shampoo and shaving foam are down at P&G but sales of cleaning products are up. It is still very hard to see how consumers will react when lock-downs end. But sensible companies are already thinking about this.
“This is not a near-term shock that will quickly rebound. We are going to have to recognise that whether it be social, economic or business aviation, that things have changed as a result of this crisis - whether it is for our businesses, our families or our communities,” said Michael Amalfitano, president and CEO of Embraer Executive Jets on Stewart Lapayowker’s Plane Talk Radio Show. (Amalfitano is on after eight minutes –the show is great, but you should skip the first guest. The intro is also awesome.)
“Many more dollars are going to be invested on what you can do to keep your aircraft and your customer experience as fresh as possible,” says Amalfitano who believes that customer behaviour is already changing.
The consensus on our charter Town Hall (you can watch the replay here) is that we will see a “W” shaped charter bounce-back – a small rise when lockdowns end followed by a dip as companies and individuals deal with the economic downturn. Some 63.5% of the nearly 600 people on the Town Hall are still fairly optimistic about 2020.
The good news for P&G is that at least some of us are shaving at least once a week as our next Town Hall is on Wednesday - please sign up here. You can always listen to it while you clean.
Have a safe weekend,
Corporate Jet Investor
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