COVID-19 Impact

CONSUMER
SPENDING
TRACKER
March 19, 2020
Executive Summary
• As the COVID-19 outbreak accelerates in Europe and the United States, governments, businesses,
and consumers are changing behaviors rapidly – this is reflected in consumer purchases in Italy,
France, U.S., and UK
• Paper Products, Home Care and OTC Healthcare purchases have spiked dramatically across all
markets as have Packaged Food
• Trends from Italy (~3 weeks earlier to COVID-19 crisis than the U.S.) and France (~2 weeks earlier)
suggest continuing heightened consumer demand; although the demand shows signs of stabilizing
• In the United States, we see an inflection point in the week ending 1 March, when significant
stockpiling began
• These trends have most strongly impacted MULO1 retailers, but have also impacted convenience
players in the U.S.
• Certain sub-categories have seen particularly high spikes, particularly in Home Care and OTC
Healthcare

1. MULO includes Grocery, Drug, Mass, Club (excluding Costco), Dollar and DeCA retailers.
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Countries are at Different Points in the Crisis, with Italy About ~3
Weeks Ahead and France About 2 Weeks Ahead of the U.S. and UK
AS OF: 03.17.2020
Cumulative # of Confirmed Cases
U.S. | Mar 16
Many restaurants,
schools, businesses
close in impacted areas
Cases Confirmed Deaths
France | Mar 13
50,000 Ban gatherings of
100+ people Total Past 24 hrs

40,000 U.S. | Mar 11 U.S. 3,536 1,858 58

Europe travel ban
UK 1,954 559 55
30,000 Italy | Mar 9
All non-essential France
activities shut down 6,573 1,193 148
20,000 Italy | Mar 4
All schools closed

10,000 Italy 27,980 3,233 2,158

0
2/1/2020 3/1/2020 3/7/2020 3/16/2020

Source: World Health Organization

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COVID-Related Restrictions as of March 17, 2020
Italy
Nationwide lock-down until
April 3, including:
• Travel restrictions
• Public gatherings banned,
incl. weddings & funerals
• Schools and universities
closed
• Bars & restaurants closed at
6PM
• Shops closed on weekends
(except for pharmacies and
grocery stores)
France
• Public gatherings with +100
people banned, including in
food stores
• Visits to senior homes
suspended
• Schools and non essential
stores closed
• Border controls
AS OF: 03.17.2020
UK U.S.
• People with fever or • Travel ban from Europe to the
persistent cough are U.S. for 30 days from March 11
recommended to stay home onwards
for at least 7 days • Public schools closed until April
• Non-essential contact with 20 in states such as New York
others is not recommended and Washington
• Besides these • Bars and restaurants closed in
recommendations, the states like NY or Washington,
government has chosen not except for delivery services
to further issues decrees • Suggestion that social
cutting free movement gatherings be limited to 10
• Schools to close as of 20 people
March • School-age students suggested
to take classes from home when
possible
• All visitors, officers, consultants
and journalist that enter the
White House must undergo
temperature measurement
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Paper Products, Home Care and OTC Healthcare Have Spiked Significantly
% Change Most Recent Wk vs. Year Ago, Based on Local Currency
Products that help consumers clean
their homes and stay healthy are in Italy France UK U.S.
high demand TOTAL CPG 10.9% 9.0% 8.2% 9.5%

Paper Products 19.9% 25.5% 78.2% 59.0%

Packaged Food purchases have
increased across countries and in Home Care 21.5% 2.4% 24.8% 40.3%

Non Edible
areas where the outbreak is more OTC Healthcare 100.2% 40.6% 54.7% 24.8%
developed, there are higher increase Personal Care 10.4% 6.7% 20.2% 19.0%
in Fresh Food Pet Food + Care 7.4% 13.4% 10.9% 6.7%
General Merchandise -11.6% NA -7.1% 4.2%
General Merchandise (e.g. cookware,
light bulbs, fertilizers) is not seeing Cosmetics -4.0% -3.9% 3.4% 3.1%
the same impact Beverage 6.2% 6.3% 9.3% 10.3%
Packaged Food 16.3% 17.0% 15.7% 10.0%

Legend Alcohol 7.8% -3.9% 3.2% 8.8%

Edible

Baby Food + Care 7.6% 10.3% 18.7% 5.4%

20%+ <5%
Dairy 13.3% 8.1% 6.7% 5.0%
10%+ <0%
Frozen Foods 16.2% 9.6% 12.0% 5.0%
5% to 10% Fresh Foods 9.8% 6.2% 3.2% 3.4%

Source: IRI POS data Week Ending March 8, 2020 vs year ago Note: Exact product categorization varies slightly by country
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A Few Weeks Further into the Crisis, Italy & France are Still Showing
High Consumer Spending, Though Italy is Beginning to Stabilize Italy France

Total CPG Inflection point when stockpiling begins

Italy and France First week of Italy increase
Week ending Jan 5 – March 8 2020 driven by Northern region,
$ Sales % Change versus Year Ago Italy France second week driven by full
Feb 16 Feb 23 12% country
11%
10%
9%
7% 6%
5%

Italy
0%
France

-5%

-10%

-15%
1/5 1/12 1/19 1/26 2/2 2/9 2/16 2/23 3/1 3/8

Source: IRI POS data Week Ending March 8, 2020

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OTC Healthcare Sales Have Skyrocketed; Cosmetics
and General Merchandise Down vs. Prior Year Italy

Non-Edible Inflection point when

Italy stockpiling begins
Week ending Jan 5 – March 8 2020

$ Sales % Change versus Year Ago Feb 16

162%
160%
OTC Healthcare
150%
140% Home Care
130% Paper Products
120% Personal Care
110% 100% Pet Food + Care
100%
Cosmetics
30% 22% General Merchandise
20% 20%
10%
10%
7%
0%
-4%
-10%
-12%
1/5 1/12 1/19 1/26 2/2 2/9 2/16 2/23 3/1 3/8

Source: IRI POS data Week Ending March 8, 2020

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Sales in Edible Categories Have Started to Stabilize;
Fresh Food and Alcohol are Up vs. Prior Week Italy

Edible Inflection point when stockpiling begins

Italy
Week ending Jan 5 – March 8 2020
$ Sales % Change versus Year Ago Feb 16

Packaged Food
20%
Frozen Foods
16%
15%
13% Dairy
10% 10% Fresh Foods
8% Alcohol
5%
6%
Baby Food + Care
0%
Beverage
-5%

-10%

-15%
1/5 1/12 1/19 1/26 2/2 2/9 2/16 2/23 3/1 3/8

Source: IRI POS data Week Ending March 8, 2020

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Consumption Impacts to Non-Edible Categories Have Been
Significant, With a Clear Inflection Point the Week of March 1 United States

Inflection point when

Non-Edible stockpiling begins
United States
Week ending Jan 5 – March 8 2020
$ Sales % Change versus Year Ago March 1
59%

55% Paper Products

50%
45% 40% Home Care
40% OTC Healthcare
35%
Personal Care
30%
25% 25% Pet Food + Care
20% 19% General Merchandise
15%
10% 7% Cosmetics
4%
5%
3%
0%
-5%
-10%
-15%
1/5 1/12 1/19 1/26 2/2 2/9 2/16 2/23 3/1 3/8

Source: IRI POS data Week Ending March 8, 2020

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Similarly, in Edible Categories, Beverage and
Packaged Food are Seeing Stockpiling Impact United States

Edible Inflection point when

United States stockpiling begins
Week ending Jan 5 – March 8 2020
$ Sales % Change versus Year Ago March 1
10%
10% 10% Beverage
9% Packaged Food
5% Alcohol
5% 5%
3% Baby Food + Care
1% Dairy
0%
Frozen Foods
Fresh Foods
-5%
Tobacco

-10%

-15%
1/5 1/12 1/19 1/26 2/2 2/9 2/16 2/23 3/1 3/8

Source: IRI POS data Week Ending March 8, 2020

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MULO Retailers are Seeing a Greater Impact,
But Convenience Players are Also Seeing an Increase United States

Inflection point when

Total CPG stockpiling begins
United States
Week ending Jan 5 – March 8 2020
March 1
$ Sales % Change versus Year Ago
10%
10%
MULO
Convenience
5% 4%

0%

-5%

-10%

-15%
1/5 1/12 1/19 1/26 2/2 2/9 2/16 2/23 3/1 3/8

Source: IRI POS data Week Ending March 8, 2020 Note: MULO includes Grocery, Drug, Mass, Club (excluding Costco), Dollar and DeCA retailers.
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 Backup

Top Growing Subcategories by Country (Latest Week)

Edible
Non Edible

Italy France UK U.S.

Dept % Chg Dept % Chg Dept % Chg Dept % Chg

Alcohol (denatured) 246.7% Parapharmacy Accessories 124.7% Household Cleaning 101.3% Hand Sanitizers 454.5%

Hygienic Products/ Wipes 192.7% Bath Soaps 109.0% Personal Wash 100.8% Spray disinfectant 389.6%
Parapharma / First Aid Cleaning Gloves 99.9% Facial Tissues 96.6% Cloth all-purpose cleaner 343.3%
119.6%
Medication
Accessories / Gloves 111.6% Poultry Sausage 92.9% Toilet Tissue 87.6% Disposable gloves 175.5%

Mandarins - Packaged 111.4% Pasta 77.5% Canned Meats 72.5% Liquid hand soap 150.2%

Parapharma / Diagnostic 92.7% Rice 71.2% Vitamins 63.7% Personal thermometers 145.6%

Small Surfaces Detergents 85.5% Dried Vegetables 63.5% Soup 59.7% Powdered milk 127.6%

Personal Hygiene / Soaps 68.3% Flours 61.7% Non-Pharmacy Medicines 59.2% First aid kits 107.3%

Dehydrated Potato Puree 50.7% Specialty Asian Foods First aid ointments/
Dried Legumes 60.5% 52.1%
antiseptics
93.7%

Fermented Milk & Kefir 55.7% Cooked Pasta Dishes 49.6% Canned Beans & Pasta 51.9% Moist towelettes 82.9%

Source: IRI POS data Week Ending March 8, 2020 vs year ago.
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Appendix

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Data Methodology and Notes

U.S. Data
• Represents transaction
POS database (accounts Italy Data
for 80%+ of FMCG sales) • Excludes Open Air Markets
• Data collected in Multi- estimated at 6% of total
Outlet + Convenience FMCG sales
(MULOC) channels:
Grocery, Drug,
Convenience, Mass,
Walmart, Club, Dollar,
and DECA Stores
• Excludes Costco

© 2020 Information Resources Inc. (IRI). Confidential and Proprietary. 14

Top Subcategories by Latest Week Sales – Edible Italy

Group Dept % Chg Group Dept % Chg

PAPER PRODUCTS Hygienic Products/ Toilet Paper 17.7% PERSONAL CARE Oral Hygiene / Toothpaste 13.8%
Hygienic Products/ Female
PAPER PRODUCTS Disposable / Kitchen Rolls 23.8% PERSONAL CARE 7.3%
Sanitary Towels External
Hygienic Products/ Napkins & Personal Hygiene / Bath &
PAPER PRODUCTS 28.5% PERSONAL CARE 9.7%
Tissue Shower Gel
Laundry - Washing Machine
HOME CARE 7.4% PET FOOD + CARE Pet Care Cats - Nutrition 8.7%
Detergents 2
HOME CARE Small Surfaces Detergents 85.5% PET FOOD + CARE Pet Care Dog - Nutrition 6.0%

HOME CARE Auto Dishwasher Detergent 19.9% PET FOOD + CARE Pet Care Cats - Litters 14.9%

HOME CARE Laundry Softeners 10.3% GEN MERCH Cell Phones And Accessories -2.6%

HOME CARE Disposable / Table Accessories 3.1% GEN MERCH Gardening -43.4%
Parapharma / First Aid
OTC HEALTHCARE 119.6% GEN MERCH Leisure Products 37.5%
Medication
OTC HEALTHCARE Parapharma / Other 75.3% COSMETICS Hair Shampoo 3.7%

OTC HEALTHCARE Parapharma / Diagnostic 92.7% COSMETICS Hair Coloring 2.2%

COSMETICS Hair Conditioner-Treatment 2.0%

Source: IRI POS data Week Ending March 8, 2020 vs year ago.
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Top Subcategories by Latest Week Sales – Edible Italy

Group Dept % Chg Group Dept % Chg

BEVERAGE Still Water 3.6% BABY CARE Biscuits 9.4%

BEVERAGE Coffee Ground 15.4% BABY CARE Baby Care / Diapers 5.1%

BEVERAGE Coke 3.7% BABY CARE Homogenized 2.5%

BEVERAGE Natural Sparkling Water 10.3% DAIRY Mature Cheese - Rw 8.6%

BEVERAGE Tea -4.5% DAIRY Milk Uht 18.3%

PACKAGED FOOD Pasta 23.9% DAIRY Mozzarella 18.6%

PACKAGED FOOD Tunafish In Oil 17.7% DAIRY Parmesan Cheese 26.3%

PACKAGED FOOD Sweet Snacks 1.2% DAIRY Fresh Milk 0.3%

PACKAGED FOOD Extra Olive Oil 15.0% FROZEN FOODS Natural Vegs & Fruits 20.8%

PACKAGED FOOD Pastry 40.1% FROZEN FOODS Natural Fish 16.0%

ALCOHOL Beer Alcohol 6.6% FROZEN FOODS Pizza 15.2%

ALCOHOL Wine - Italian Doc 11.8% FRESH FOODS Red Meat - Rw 16.1%

ALCOHOL Wine - Italian Igp 4.4% FRESH FOODS Sliced Cold Cuts 9.7%

ALCOHOL Brown Spirits 13.0% FRESH FOODS Fish - Rw -0.7%

Source: IRI POS data Week Ending March 8, 2020 vs year ago.
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Top Subcategories by Latest Week Sales – Non Edible France

Group Dept % Chg Group Dept % Chg

PAPER PRODUCTS Toilet Paper 20.9% PERSONAL CARE Shower Gels -2.9%

PAPER PRODUCTS All-purpose Paper Towels 23.7% PERSONAL CARE Toothpastes 11.3%

PAPER PRODUCTS Tissues and Paper 42.9% PERSONAL CARE Shampoos 4.0%

HOME CARE Laundry Cleaners Normal -6.0% PET FOOD + CARE Humid Food For Cat 16.1%
Multipurpose Household
HOME CARE 15.8% PET FOOD + CARE Dry Cat Food 15.3%
Cleaners
HOME CARE Garbage Bags 6.6% PET FOOD + CARE Dry Food For Dogs 8.3%

HOME CARE Machine Dishwashing Liquid 0.1% COSMETICS Cosmetics -3.9%

HOME CARE Hand Dishwashing 11.4%

OTC HEALTHCARE Parapharmacy Accessories 124.7%

OTC HEALTHCARE Diet Supplements 6.6%

OTC HEALTHCARE Health Products for Shape 14.1%

Source: IRI POS data Week Ending March 8, 2020 vs year ago.
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Top Subcategories by Latest Week Sales – Edible France

Group Dept % Chg Group Dept % Chg

BEVERAGE Natural Mineral water 10.3% BABY CARE Diapers 12.4%

BEVERAGE Coffee Pod 19.2% BABY CARE Baby Food 5.1%

BEVERAGE Fruit juice 4.9% BABY CARE Milk For Baby 13.1%

BEVERAGE Colas -2.1% DAIRY Milk 19.7%

BEVERAGE Roasted Coffee 15.3% DAIRY Yogurts 4.9%

PACKAGED FOOD Pasta 77.5% DAIRY Hard cheese 11.6%

PACKAGED FOOD Chocolate Bars 11.3% DAIRY Butters 7.8%

PACKAGED FOOD Cooking Oil 20.4% DAIRY Fresh Cream 8.0%

PACKAGED FOOD Industrial Viennoiserie 4.9% FROZEN FOODS Frozen meats 18.2%

PACKAGED FOOD Chocolate Confectionery -2.1% FROZEN FOODS Frozen Fish 25.5%

ALCOHOL Whiskey -1.3% FROZEN FOODS Frozen vegetables 19.8%

ALCOHOL Specialty Blonde Beers -8.2% FRESH FOODS Fresh desserts 3.0%

ALCOHOL Specialty Beers 2.2% FRESH FOODS Cooked ham and shoulder 8.3%

ALCOHOL Anise -6.3% FRESH FOODS Eggs 7.8%

Source: IRI POS data Week Ending March 8, 2020 vs year ago.
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Top Subcategories by Latest Week Sales – Non Edible United Kingdom

Group Dept % Chg Group Dept % Chg

PAPER PRODUCTS Household Paper 78.2% PERSONAL CARE Deos & Personal Wash 73.5%

HOME CARE Detergents/Laundry 20.5% PERSONAL CARE Oral Hygiene 12.0%

HOME CARE Household Sundries 6.1% PERSONAL CARE Haircare 6.2%

HOME CARE Cleaning Products 79.2% PET FOOD + CARE Pet food 11.2%

OTC HEALTHCARE Medicines 55.2% PET FOOD + CARE Pet Non Food 8.2%

OTC HEALTHCARE Vms & Nutrition 52.6% GEN MERCH Housewares -1.6%

GEN MERCH Garden & Flowers -9.2%

GEN MERCH Newspapers & Magazines -1.3%

COSMETICS Cosmetics & Fragrances 3.4%

Source: IRI POS data Week Ending March 8, 2020 vs year ago.
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Top Subcategories by Latest Week Sales – Edible United Kingdom

Group Dept % Chg Group Dept % Chg

BEVERAGE Soft Drinks 7.7% BABY CARE Baby Care 20.5%

BEVERAGE Hot Beverages 12.9% BABY CARE Baby Food 16.5%

PACKAGED FOOD Confectionery 5.6% DAIRY Fresh Milk 2.1%

PACKAGED FOOD Crisps, Snacks & Nuts 5.3% DAIRY Cheese 7.2%

PACKAGED FOOD Biscuits 8.7% DAIRY Butters, Fats & Margarines 7.4%

PACKAGED FOOD Cooking Products 20.5% DAIRY Milk, Topping & Whiteners 36.0%

PACKAGED FOOD Breakfast Cereals 15.4% DAIRY Fresh Cream 0.0%

ALCOHOL Wine 4.0% FROZEN FOODS Frozen Vegetables 16.6%

ALCOHOL Spirits 2.9% FROZEN FOODS Other Frozen 15.0%

ALCOHOL Beer 3.0% FROZEN FOODS Ice Cream & Desserts -3.3%

ALCOHOL Cider & Perry -0.8% FRESH FOODS Fruit -0.4%

FRESH FOODS Bread & Cakes 4.8%

FRESH FOODS Vegetables 3.3%

Source: IRI POS data Week Ending March 8, 2020 vs year ago.
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Top Subcategories by Latest Week Sales – Non Edible United States

Group Dept % Chg Group Dept % Chg

PAPER PRODUCTS TOILET TISSUE 72.4% PERSONAL CARE TOOTHPASTE 24.3%

PAPER PRODUCTS PAPER TOWELS 44.3% PERSONAL CARE DEODORANTS 14.5%

PAPER PRODUCTS FACIAL TISSUE 49.2% PERSONAL CARE LIQUID BODY WASH/ALL OTHER 18.1%

HOME CARE LIQUID LAUNDRY DETERGENT 21.4% PET FOOD + CARE DRY DOG FOOD 6.0%
DOG
HOME CARE CLOTH ALL PURPOSE CLEANER 343.3% PET FOOD + CARE 12.0%
BISCUITS/TREATS/BEVERAGES
CLEANING
HOME CARE 14.8% PET FOOD + CARE DRY CAT FOOD 6.7%
TOOLS/MOPS/BROOMS
GARBAGE/TRASH/LAWN&LEAF
HOME CARE HOME AIR FRESHENERS 17.0% GEN MERCH 18.2%
BAGS
ALL PURPOSE
HOME CARE 74.7% GEN MERCH DISPOSABLE PLATES/BOWLS 8.8%
CLEANER/DISINFECTANT
COLD/ALLERGY/SINUS
OTC HEALTHCARE 39.0% GEN MERCH HOUSEHOLD/KITCHEN STORAGE 5.2%
TABLETS/PACKETS
OTC HEALTHCARE INTERNAL ANALGESIC TABLETS 29.0% COSMETICS REGULAR SHAMPOO 9.1%
HAIR CONDITIONER/CREME
OTC HEALTHCARE MINERAL SUPPLEMENTS 18.6% COSMETICS 7.7%
RINSE
WEIGHT
COSMETICS WOMEN'S HAIR COLORING 0.2%
OTC HEALTHCARE CONTROL/NUTRITIONALS 11.2%
LIQ/PWD
OTC HEALTHCARE MULTI-VITAMINS 41.6%

Source: IRI POS data Week Ending March 8, 2020 vs year ago.
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Top Subcategories by Latest Week Sales – Edible United States

Group Dept % Chg Group Dept % Chg

BEVERAGE REGULAR SOFT DRINKS 1.8% BABY CARE DISPOSABLE DIAPER 10.6%
CONVENIENCE/PET STILL
BEVERAGE 32.5% BABY CARE BABY WIPES 29.5%
WATER
SS ENERGY DRINKS NON-
BEVERAGE 10.4% BABY CARE DISPOSABLE TRAINING PANTS 12.2%
ASEPTIC
BEVERAGE LOW CALORIE SOFT DRINKS 10.1% DAIRY RFG YOGURT 4.1%

BEVERAGE SS SPORTS DRINKS NON-ASEPTIC 21.6% DAIRY RFG SKIM/LOWFAT MILK 3.3%

PACKAGED FOOD READY-TO-EAT CEREAL 4.7% DAIRY FRESH EGGS -1.3%

PACKAGED FOOD COOKIES 3.7% DAIRY NATURAL CHEESE-SHREDDED 8.5%

PACKAGED FOOD POTATO CHIPS 2.7% DAIRY RFG WHOLE MILK 7.1%

PACKAGED FOOD ALL OTHER CRACKERS 9.8% FROZEN FOODS ICE CREAM 6.8%

PACKAGED FOOD TORTILLA/TOSTADA CHIPS 2.9% FROZEN FOODS FZ PIZZA 3.3%

DOMESTIC BEER/ALE (INC NON- SINGLE SERVE FZ
ALCOHOL 10.1% FROZEN FOODS 4.0%
ALCOHOLIC) DINNERS/ENTREES
ALCOHOL DOMESTIC TABLE/STILL WINE 3.6% FRESH FOODS FRESH BREAD 2.8%
RFG UNCOOKED MEATS (NO
ALCOHOL SPIRITS 7.7% FRESH FOODS 11.9%
POULTRY)
IMPORTED BEER/ALE (INC NON-
ALCOHOL 13.1% FRESH FOODS RFG SLICED LUNCHMEAT 2.5%
ALCOHOLIC)

Source: IRI POS data Week Ending March 8, 2020 vs year ago.
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COVID-19 People Dashboard | Italy
AS OF: 03.17.2020
Current COVID-related restrictions
Nationwide lock-down until April 3, incl.:
• Travel restrictions
• Public gatherings banned, incl. weddings
& funerals
• Schools and universities closed
• Bars & restaurants closed at 6 PM
• Shops closed on weekends (except for
pharmacies and grocery stores)
Italy
Government measures to support Government measures to support
corporates employees & individuals
Decree #9 of 2/3/20 (as amended by Decree • Trade union obtained time off and flexible
of 11/3/20) foresees several measures: working hours from employers,
particularly for retail workers so they can
• CIGO: Ordinary Wages Guarantee Fund
look after their children while many
• Industries such as utilities, mining, schools are shut down
agriculture, etc.
• Possibility for paid leave for workers, in
• Paid for max. 3-12 months case of absence due to forced closures
• CIGS: Extraord. Wages Guarantee Fund • Suspension of mortgage payments
• Industries such as construction,
catering, cleaning, tourism, etc.
• Up to 12 months in case of crisis,
24-36 months in exceptional cases
• CIGD: Extraordinary Wages Guarantee
Fund for exceptional cases
• For small businesses,
entrepreneurs etc.
• Max. 12 months
Sources: https://ourworldindata.org/coronavirus ; The Italian Times; UNI Global Union; Ministero della Salute
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COVID-19 People Dashboard | France
AS OF: 03.17.2020
Current COVID-related restrictions
• Public gatherings with +100 people
banned, including in food stores
• Visits to senior homes suspended
• Schools and non essential stores closed
• Border controls
Sources: https://ourworldindata.org/coronavirus; IMF; France 3; La Tribune; Dossier Familial; Droit-Finances; La Voix du Nord
France
Government measures to support Government measures to support
corporates employees & individuals
• Short-time working schemes for firms • Subsidies for employees to stay home to
whose business is affected by Corona care for children during school closings
(e.g., supply shortages, demand cuts)
• Maximum 20 days
• Firm allowance of up to €7,23/h
• Children 16 years & younger
• Employees must receive not less
• Sick leave for people directly affected by
than the minimum wage
virus who have to self-quarantine
• Wage subsidies, up to 84% of net salaries
with no salary limit
• Protection against layoffs through short-
• Possibility to reduce or defer taxes & time work
contributions due in March with no extra
• Extension of "winter truce" until May 31 to
fees, formalities, justifications required
protect tenants from home eviction/having
• Rescheduling of credit terms their electricity or gas cut off
• Cash guarantee from Bpifrance for
smaller companies at risk of cashflow
bottlenecks
• Creation of solidarity fund for most
vulnerable businesses – €50 Million in
direct aids, €230 Million in loans
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COVID-19 People Dashboard | United Kingdom United Kingdom

AS OF: 03.17.2020

Current COVID-related restrictions Government measures to support Government measures to support

• People with fever or persistent cough are
recommended to stay home for at least 7
days
• Non-essential contact with others is not
recommended
• Besides these recommendations, the
government has chosen not to further
issues decrees cutting free movement
• Schools to close as of 20 March
corporates
• Legislation to be put forward to allow
SME's to reclaim statutory sick pay (SSP)
for absence due to COVID-19
• The refund will cover up to two weeks'
SSP for companies with under 250 total
employees
• Increase of business rates retail business
rates (property tax) discount to 100% for
1 year, expansion to leisure & hospitality
• Funding of £2,2bn for local authorities to
support SME business rate relief
• Provision of a guarantee of 80% to SME
loans delivered by the British Business
Bank
• Coronavirus Business Interruption Loan
Scheme, providing a guarantee of 80%
on loans up to £1.2 million in value
employees & individuals
• Statutory Sick Pay will be given for
anyone needing to stay at home, whether
infected or not, and will be given from day
one of absence
• This applies if the employee or a person
in the household has COVID-19
symptoms
• A mechanism is under development for
online provision of evidence for the need
to stay at home
• Those affected by coronavirus will be able
to apply for Universal Credit and can
receive a month's advance without in-
person attendance

Sources: https://ourworldindata.org/coronavirus; HM Treasury; The Guardian; BBC; ACAS (Advisory, Conciliation and Arbitration Services) UK
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COVID-19 People Dashboard | United States
AS OF: 03.17.2020
Current COVID-related restrictions
• Travel ban from Europe to the U.S. for 30
days from March 11 onwards
• Public schools closed until April 20 in
states such as New York or Washington
• Bars and restaurants closed in states
such as New York or Washington except
for delivery services
• Social gatherings limited to 10 people
• School-age students suggested to take
classes from home when possible
• All visitors, officers, consultants and
journalist that enter the White House must
undergo temperature measurement
Sources: https://ourworldindata.org/coronavirus; U.S. Employment Security Department; CBS News; Merkur; Radio France Internationale; Reason.com
United States
Government measures to support Government measures to support
corporates employees & individuals
• SharedWork program: allows employers • Paid Sick Leave for those who miss work
to reduce hours of permanent & hourly- due to illness; if not available, Paid Family
paid employers by max. 50% & Medical Leave may be available
• Partial employment: allows employers to • Unemployment benefits if employees out
temporarily reduce hours of work for full- of work due to a lack of work or cannot
time employees work because unavailable childcare
• Standby program: employees do not have
to look for other work but need to be
available for any work you offer that they
can do if quarantined or isolated
• Leniency on financial penalties for
employers who file their tax reports late,
pay taxes late, miss deadlines
• Payroll tax holiday currently in
consideration
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Deep Dive U.S.: New Case Detection Continues to Accelerate United States

AS OF: 03.17.2020

Distribution of Confirmed COVID-19 Number of Newly Detected Cases

Cases Across U.S. States as of 15 Mar Accelerating in Last 2 Weeks
Data as of 15 Mar
#of new confirmed cases #of tests carried out1

1,000 3,000
US
Test carried out1 2,000
500
1,000
0 0
26-Jan 2-Feb 9-Feb 16-Feb 23-Feb 1-Mar 8-Mar 15-Mar

Data suggests that testing ramp up in last 2 weeks contributed

to increase in case detection
• Likely large number of undetected cases in prior weeks
due to low test rates
61% of cases are located in 3 states
• New York (21%) Responses starting to take shape: Federal government
• Washington (18%) imposed travel restrictions from European countries2; many
• California (12%) states are closing schools, restaurants, other establishments

1. Testing numbers based on publication on CDC website. Data for 3/9-3/12 labelled as preliminary with final numbers pending 2. Travel ban for all residents of 26 EU countries for 30 days
and foreign nationals who have been physically present time in one of the countries in the last 14 days Source: Johns Hopkins CSSE, CDC, BCG Henderson Institute analysis
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