Over US$500 Billion across Food and Drink Industries at Risk from Marketing Restrictions

Drink cans
  • Brand Finance has estimated that a global imposition of marketing restrictions across the alcohol, confectionary, savoury snacks, and sugary drinks industries could result in a whopping US$521 billion loss to businesses
  • PepsiCo would lose the most on company level, with a potential loss of nearly US$62 billion, but rivals Coca-Cola could see the single largest loss on brand level with estimated US$43 billion at risk
  • Top alcohol companies face 100% revenue exposure. AB InBev would lose the most in absolute terms, with nearly US$40 billion of value at stake. Of Diageo’s brands, Johnnie Walker would be the second worst hit, losing US$3.5 billion
  • Original market research into opinions on brands and marketing restrictions, conducted among over 6,000 consumers across 12 countries worldwide, including over 500 surveyed in the UK, shows 70% – 90% levels of awareness of positive impacts of brands
  • Little appetite for sweeping marketing restrictions – fewer than 10% of consumers felt there should be a ban on TV advertising, billboards, in-store demonstrations, or distinctive packaging
  • Consensus that marketing restrictions aggravate the illicit trade problem – 80-90% of consumers acknowledge the role that brands play in supporting legal sales channels


Following the introduction of marketing restrictions for tobacco products and repeated calls to extend the legislation to more sectors, Brand Finance once again analysed the potential impact of such policies on food and drink brands. The latest Brand Finance Marketing Restrictions 2021 report – building on the analysis conducted in 2017 and 2019 – estimates potential loss to businesses at over US$500 billion and seeks to understand popular attitudes to brands and marketing restrictions thanks to insights from an original global consumer survey.

 

Over US$500 billion at risk

In the latest report, Brand Finance analysed the potential damage across alcohol, confectionery, savoury snacks, and sugary drinks brands which can result from the imposition of marketing restrictions across the globe. The analysis models the impact on enterprise value from potential reduction in the added value that brands contribute to the business – known as brand contribution.

The report looks at nine of the world’s biggest food and drink brand-owning companies: AB InBev, The Coca-Cola Company, Diageo, Heineken, Mondelēz International, Nestlé, PepsiCo, Pernod Ricard, and Treasury Wine Estates, as well as the industry as a whole.

The nine major brand-owning companies could lose a total of US$267 billion in enterprise value should marketing restrictions be implemented. On average, the companies in question could each lose nearly a quarter of their enterprise value and over 50% of brand contribution.

Looking beyond simply the nine companies analysed, and extrapolating this to the entire endangered industries globally, alcohol, confectionary, savoury snacks, and sugary drinks brands could lose a whopping US$521 billion.

David Haigh, Chairman and CEO of Brand Finance, commented:

“Brands are integral to how the world operates. In times of crisis, brands – especially those most valuable and strongest in their categories and markets – become a safe haven for capital. Well-managed, innovative, and reputable brands are what the global economy turns to in the hour of need. Severe marketing restrictions are catastrophic, not only for brands, but for all stakeholders, from consumers and society, to investors and governments.”

 

Losses to soft drink giants

Given the importance of brand in the soft drink industry, imposing plain packaging or further limitations on advertising would cause severe damage. PepsiCo would lose the most in absolute terms among all companies studied, with a potential loss of nearly US$62 billion. PepsiCo’s flagship brand Pepsi is estimated to suffer the most within its portfolio, with US$23 billion at stake. However, The Coca-Cola Company’s flagship brand, Coca-Cola, would stand to lose US$43 billion – considerably more than bitter rival Pepsi and any other brand in the analysis. It constitutes the majority of the US$57 billion potential loss estimated for the company.

 

Top alcohol companies face 100% exposure

Alcoholic drinks giants, AB InBev, Heineken, Diageo, Pernod Ricard, and Treasury Wine Estates could face 100% revenue exposure should marketing restrictions be imposed on their sector on a global scale, due to their portfolios consisting entirely of products that would be affected by the legislation.

Diageo’s portfolio could lose US$24.9 billion as a result of marketing restrictions – amounting to 71.6% of the entire value that Diageo’s brands contribute to the business. This is the highest proportion among all companies analysed. World-famous Scotch whisky brand Johnnie Walker has the second most at stake amongst all brands in Diageo’s portfolio with US$3.5 billion in danger.

 

Global survey on attitudes to brands and marketing restrictions

Given the risks to brands from marketing restrictions, over 6,000 people were surveyed across 12 countries globally – including over 500 from the UK – with respondents asked their opinions on brands and marketing restrictions.

Additionally, 13 CMOs, who are currently or who were recently overseeing brand marketing in leading organisations in the sectors covered in the research, were interviewed about the contribution that brands make to economic and social wellbeing, as well as their concerns about marketing restrictions.

 

British attitudes to brands

Globally, and across the UK, the general public recognise the positive impact of brands, both on their everyday lives, as well as on wider societies and economies.

Although UK respondents’ perceptions about the impact of brands is less favourable than the global sample average, over 80% of UK respondents agree that brands encourage product quality, improve choice, make a contribution to the economy, and acknowledge the role of brands in limiting illicit trade. Over three quarters of British respondents also agree that brands support the media and the job market.

Jane Reeve, Chief Communication Officer, Ferrari, commented:

“Strong brands support stronger economies which support employment.”

 

Which of these impacts do you think brands provide or encourage?

Impact

Global

UK

Broader choice of products

95%

88%

Product quality and safety

93%

85%

I can buy genuine products in reputable stores

90%

84%

Making a contribution to the economy

89%

85%

Supporting media through advertising funding

86%

79%

Good jobs in roles such as marketing, sales, advertising

85%

78%

Encouraging better solutions for the environment

81%

72%

Better treatment of suppliers

80%

71%

Better treatment of employees

77%

71%

 

High expectations that brands should be a force for good

Consumers expect brands to be a positive force in society. They do not want brands that are silent on the causes that matter to them and there is a general expectation that brands should be doing their part to support society. As such, 72% of British respondents expect brands to provide superior product safety and production standards and 68% expect brands to undertake ethical sourcing and supply chains.

Doug Place, CMO, Nando’s – Africa, Middle East, South Asia, commented:

“Whether it’s environmental concerns, labour practices, renewable energy…we should leave the world in a better place as a result of our brand, not worse.”

 

What do you expect from brands?

Impact

Global

UK

Superior product safety and production standards

79%

72%

More ethical sourcing and supply chain

74%

68%

Better employment practices than small businesses

73%

63%

Leadership on equal treatment regardless of gender, race, disabilities, etc.

72%

64%

Supporting charitable causes

70%

57%

Leadership on waste reduction

69%

64%

 

Little appetite for sweeping marketing restrictions

Both the general public and CMOs understand that brand benefits can only be delivered if brands can market themselves, from product quality control to the added value for society.

The survey shows that consumers do not generally seek curbs on the most frequent marketing channels, regardless of product category. Across the global sample, fewer than 10% of consumers felt that there should be a ban on TV advertising, billboards, in-store demonstrations, or distinctive packaging – with little variation across product category.

Only a third of British respondents would support the most extreme form of marketing restrictions – plain packaging – across the industries at risk.

Consumers are brand literate but will not forego their own interests under the influence of marketing and advertising. Consumers are aware that brands are there to help them make informed decisions.

 

Marketing restrictions aggravate the illicit trade problem

Marketers and consumers are wary of over-regulation, as marketing restrictions – in particular plain packaging – can facilitate fraud and present a danger to consumers.

Shiyan Jayaweera, Head of Marketing, Lion Brewery, commented:

“Low-quality and illegal products are made up to look like a regulated beverage, which is confusing and endangers consumers. It is not easy to tell the difference between established brands and illicit products.”

Consumers emphatically acknowledge (80-90% agreement across markets analysed) the role that brands play in supporting legal sales channels, as well as helping to navigate between real and fake goods – and this brand literacy helps explain why most accept that brands should be allowed to promote themselves in a responsible fashion.

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Brazil Leapfrogs Indonesia As Most Complex Place To Do Business in 2021

Global business

Eighth annual Global Business Complexity Index (GBCI) reveals focus on good governance and responsible business; tougher penalties for breaching regulations; long-term impact of Covid-19 on global business landscape.

The comprehensive report by TMF Group, a leading professional services firm, analyses rules, regulations, tax rates, penalties and compliance issues across 77 jurisdictions, accounting for 92% of the world’s total GDP and 95% of net global FDI flows.

292 indicators are tracked annually, offering data on key aspects of doing business, including incorporation timelines, payroll and benefits, and staying compliant.

Brazil ranks as the most complex jurisdiction this year, leading a list of six Latin America countries in the top ten, with Mexico, Colombia, Argentina, Bolivia and Costa Rica close behind. Brazil’s ranking owes a lot to bureaucracy: businesses register with three different levels of authorities (federal, state and city) when incorporating. Furthermore, tax rates differ from city to city and state to state.  

France and Poland top the European rankings as the 2nd and 10th most complex. Indonesia, at number six, is the only jurisdiction in APAC in the top ten.

Denmark and Hong Kong are the simplest jurisdictions, followed by the Cayman Islands, Ireland and Curaçao. Denmark’s success is driven by a straightforward incorporation process, acceptance of English documentation, and digitalisation.

The UK has moved down to 58th, meaning it is simpler to do business. The conclusion of Brexit, along with new international trade agreements, brings increased clarity and stability. Familiarity with digital tax processes has increased and the legislative environment stabilised – law changes resulting in greater economic substance requirements are unlikely to be approved within the next five years.

The United States continues to be an attractive destination, ranking 7th least complex. Factors driving ease of doing business include the three-week turnaround to incorporate via a single body, the ability to pay taxes from a foreign bank account, and that company directors need not be US residents. 

TMF Group CEO Mark Weil said: “Our 2021 report is written in the shadow of Covid-19 and the disruptions to travel, trade and health that it has brought. Within that difficult backdrop, attracting and encouraging business investment remains a critical driver of the world economy and local prosperity, and we at TMF Group are pleased to play our part in encouraging simplification by regulators and governments.

“A continuing observation, from our eight years of reporting on complexity, is that some of the most attractive markets to operate in are both the most complex and the most punitive for getting things wrong. Firms typically have a small number of large bases, often in relatively simple locations to operate in. They then have a long tail of offices at lower scale in more complex locations. That exposure caused by their ‘complex tail’ is where risk concentrates.”

In addition to analysing 77 locations, the report identifies key themes shaping the global business landscape and regulatory environment.


Stricter penalties

There has been a global increase in penalties for non-compliance. Fines are the most common penalty for accounting and tax misdemeanours, imposed for doing business without being tax registered in 93% of jurisdictions in 2021 compared to 84% last year.

Penalties are more stringent in complex jurisdictions. While 45% of jurisdictions globally can suspend an operating licence for doing business without being tax registered, this jumps to 70% in more complex jurisdictions. Since 2020, there has also been an increase in fines for errors in tax reporting and payment.

 

Rise of responsible governance

There is renewed focus on ensuring companies behave responsibly across all business activities, from employing workers to paying taxes and ensuring transparent structures.

Requirements such as UBO and PSC have remained steady since 2020, as has the percentage of jurisdictions adopting ownership records, demonstrating that transparency processes are consistent year-on-year. The report shows the requirement to provide UBO and/or PSC information to a central register is highest in EMEA at 82% of jurisdictions compared to 43% in APAC.

The mandated involvement of a third party in business operations has increased. In 2020, 17% of jurisdictions required that an entity appoint and register a certified accountant, compared to 27% in 2021.


Impact of Covid-19 on digitalisation, HR and payroll

Covid-19 has accelerated the trends toward process digitalisation and simplification of interactions between businesses and government authorities. In 2021 the automatic notification of all relevant state authorities when a company incorporates rose to 14% of jurisdictions globally, up from 6% in 2020.

Some jurisdictions are temporarily permitting digital signatures, a step which is predicted by our experts to become a long-term change. Conversely, there have been significant delays in jurisdictions such as Colombia and Argentina where in-person appointments are required to process incorporation documentation.

The report highlights how the pandemic has changed how companies manage employees. In 2021, 20% of jurisdictions allowed businesses to dismiss an employee without reason, falling from 29% in 2020. North America’s 14 jurisdictions contributed most to this fall, with 64% permitting such dismissals in 2020 versus 23% in 2021.

Remote working and a globalised workforce bring challenges in hiring and payroll, across and within jurisdictions. In the US, Covid-19 has led to companies hiring remote workers in different states, bringing payroll challenges because income taxes are set and reported at state level.

 

Top ten:

 

  1. Brazil
  2. France           
  3. Mexico           
  4. Colombia
  5. Turkey
  6. Indonesia
  7. Argentina
  8. Bolivia
  9. Costa Rica
  10. Poland


Bottom ten:

  1. Mauritius
  2. El Salvador
  3. The Netherlands
  4. United States
  5. British Virgin Islands
  6. Curaçao
  7. Ireland
  8. Cayman Islands
  9. Hong Kong
  10. Denmark

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Atlantic Charter Can Advance Innovation as We ‘Build Back Better’ from Covid-19

UK USA

A UK-US Atlantic Charter designed to work for the post-COVID benefit of humanity has been hailed as a huge opportunity for healthcare innovation and, particularly future pandemic protection technology.

UK Prime Minister Boris Johnson and US President Joe Biden have prioritized a global initiative to end and recover from the COVID-19 pandemic and enhance transatlantic cooperation in several areas including technology, healthcare, and aviation.

This was welcomed by the World Nano Foundation (WNF), promoting nanotechnology – innovation at a molecular and atomic level – which has played a significant role in fighting COVID-19 through vaccine and testing developments.

Paul Stannard, the not-for-profit WNF’s Chairman, said: “The UK and US have always been frontrunners in scaling innovation and funding, and we have witnessed a wave of amazing technological advances in recent years.

“This has then been accelerated by the pandemic where healthcare developments have advanced by a decade in just six months and caused surging investment in that sector.

“Now, with further impetus from a UK-US Atlantic Charter – nearly 80 years on from the original Charter signed by the two nations’ wartime premiers Winston Churchill and Franklin D Roosevelt – we can expect transformation across many industries, developing sustainable healthcare, greater energy and food resources, upgrading infrastructure, and reducing carbon emissions in our cities.”

To strengthen UK and US efforts to beat the COVID-19 pandemic and prevent any future outbreaks, Johnson and Biden’s post-charter statement confirmed that they would jointly scale-up work on genomic sequencing and assessment of virus variants.

This includes the UK Health Security Agency’s new Centre for Pandemic Preparedness linking with its US counterpart, the proposed National Center for Epidemic Forecasting and Outbreak Analytics, within an integrated global surveillance system to be known as Global Pandemic Radar.

Paul Stannard said: “We hope linking these two centres heralds a new era of strategic cooperation by reducing barriers British tech firms face when trying to work with US partners.

“By sharing expertise in areas like artificial intelligence and nanotechnology – including genomics and quantum technology – the UK and US could make breakthroughs that change the way we live forever.

“As the emergence of the more transmissible Delta, South African, and Kent variants has proved, we cannot simply rest on our laurels and rely on vaccines to end this pandemic or protect against the next.

“But I am excited by what transatlantic support at government level, coupled with soaring healthcare technology investment might deliver in the wake of COVID’s devastation to the global population and economy.”

Healthtech investment is expected to be worth $10 trillion by 2022 (source: Pitchbook), showing the global appetite for new healthcare systems, as well as treatments and vaccines for new and existing diseases.

Stannard has witnessed this growth as a co-founder of the Luxembourg-based Vector Innovation Fund (VIF) specifically created to foster ‘new age’ healthtech, and starting with a $300 million Pandemic Protection Sub-fund:

“We are developing a multi-billion-dollar pipeline of investments to fast track and commercialize these technologies – the world cannot afford to be laid low again by a pandemic.

“So we welcome the Atlantic Charter and believe it can represent a new age of healthtech investment, and also hope Europe and the UK can find a similar path forward, since past collaboration across a network of continent-wide nanomedicine centres of excellence has enabled so many healthcare advances.”

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Labor Markets in the Region Will Be Slow to Recover from the Severe Impact of the COVID-19 Pandemic in 2020

Covid recovery

A new ECLAC-ILO joint publication warns that in order to reduce the high unemployment rates seen during the pandemic, significant efforts will be needed on employment policies aimed at the most vulnerable groups.

Regional GDP in 2020 experienced a -7.1% contraction, the biggest in a century, producing in turn a drop in employment and an increase in the unemployment rate, which reached 10.5% on average that same year, ECLAC and the ILO indicate in a new study released earlier in June.

The Economic Commission for Latin America and the Caribbean (ECLAC) and the International Labour Organization (ILO) launched this Monday, June 14, edition No. 24 of their joint publication, Employment Situation in Latin America and the Caribbean (June 2021) – now available online – in which they analyze the impact of the crisis prompted by COVID-19 on the main labor market indicators in 2020.

According to the document, the biggest effects were seen in the second quarter of last year, when governments implemented confinement measures and others aimed at containing the pandemic. These measures produced a sharp drop in economic activity, employment, and in the number of hours worked. Many workers, mainly informal ones, were unable to continue their productive tasks and had to withdraw from the market, which prevented them from earning income for their households and acting in a countercyclical way, as in previous crises. Furthermore, the suspension of care services and schools gave rise to a heavy workload inside homes, which is unequally distributed in general, overburdening women in particular.

Starting in the third quarter of the year, workers began returning to the labor market and a gradual increase in employment was observed. However, 2020 ended with lower levels of labor participation and employment and higher levels of unemployment than what existed before the pandemic.

“Given the depth of the impact of the crisis in the region’s labor markets in 2020, countries must implement policies that stimulate job creation, particularly among the most vulnerable groups such as young people and women,” Alicia Bárcena, ECLAC’s Executive Secretary, and Vinícius Pinheiro, the ILO’s Regional Director for Latin America and the Caribbean, stated in the publication’s foreword. The two officials also stressed the importance of regulating new forms of hiring through digital platforms.

According to the report, the contraction in employment in 2020 was much more pronounced in sectors such as the hotel business (19.2%), construction (11.7%), trade (10.8%) and transportation (9.2%), which together account for around 40% of regional employment. At the same time, industry (8.6%) and other services (7.5%) also experienced contractions, while in the agricultural sector there were comparatively fewer job losses (2.4%).

Both United Nations organizations emphasize that it is essential to think about strategies that would enable laying the foundations for a return to the job market with better labor conditions for all workers. This entails shoring up the employment recovery in the most highly affected categories and sectors, improving institutional aspects regarding health and job safety, formalizing workers, promoting women’s labor inclusion, and adequately regulating new work modalities.

In the current edition of the Employment Situation in Latin America and the Caribbean, ECLAC and the ILO also examine key aspects of decent work for workers mediated by digital platforms. During the pandemic, these workers constituted a very important source of employment due to the need to reduce personal contact and maintain the dispatch of essential goods. However, evidence suggests that there is a high degree of precariousness in this work modality characterized by instability, long workdays, the absence of socio-labor protection, and the lack of options for dialogue and representation.

The report emphasizes the need to design adequate regulatory frameworks to achieve the goal of establishing and protecting social and labor rights for these new and expanding work modalities.

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New World Report Announces the Winners of the 2021 Legal Elite Awards

Legal elite website image

United States, 2021 –New World Report has announced the winners of the 2021 Legal Elite Awards program.

The legal industry has long been considered a bastion of the greater region’s professional landscape, working alongside the biggest of business and the smallest of start-ups to help guide their future and forge their path. Indeed, even putting aside legal entities as their own substantial sector, firms of all sizes play a fundamental role in all aspects of business – driving the minutiae and defining the rules of fields, industries and sectors across North and South America.

Now, following the enormous success of last year’s edition, we have endeavoured to magnify those who have thrived over the last twelve months, despite overwhelming uncertainty and challenges.

Awards Coordinator Kaven Cooper took a moment to discuss the success of this year’s programme: “Congratulations to everyone recognised in this program. It has been a delight to reach out to the winners, and I wish you the very best for the future. Hope you all have a fantastic rest of the year ahead!”

To learn more about our award winners and to gain insight into the working practices of the “best of the best”, please visit the New World Report (https://www.thenewworldreport.com/awards) where you can access the winners supplement.

ENDS

NOTES TO EDITORS

New World Report is an insightful and informative business news platform providing readers throughout the Americas with business advice to aid business progress, success stories aimed to inspire and trends and innovations to support business growth and continuity. Born out of the merge of U.S. Business News and Latin America News, The New World Report has a dedicated website which is updated daily with content and each month a newsletter is circulated to more than 100,000 businesses and professionals from across the region.

About AI Global Media

Since 2010 AI Global Media has been committed to creating engaging B2B content that informs our readers and allows them to market their business to a global audience. We create content for and about firms across a range of industries.

Today, we have 12 unique brands, each of which serves a specific industry or region. Each brand covers the latest news in its sector and publishes a digital magazine and newsletter which is read by a global audience. Our flagship brand, Acquisition International, distributes a monthly digital magazine to a global circulation of 108,000, who are treated to a range of features and news pieces on the latest developments in the global corporate market.

 

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Canadian Retail Executives Weigh In on the Future of Market Planning

Retail marketing

Location analytics leader, PiinPoint, has been supporting brands across North America to use data and analytics in their retail strategy since 2014. Since the onset of the COVID-19 pandemic, the retail playbook has been turned on its head, requiring organizational adaptability from retailers as they experienced a rapid rate of change.

The new realities faced by retailers over the last year have gained significant traction and present long-lasting implications to businesses and how they will plan their market strategy in 2022 and beyond. Though the end of 2021 may reflect a surge of “normal” shopping behaviour from pent-up demand, the next year presents a big question mark. How will retailers combine the best of their digital and physical worlds to remain relevant?

“The demands on retailers to leverage new attitudes and analytics to make experimental strategies from 2020 a lasting success are pressing,” explains Jim Robeson, CEO at PiinPoint. “For retailers to adequately evolve and be successful, they’ll need to remain relevant to a new consumer that lives in diversified markets, has adopted digital tools, and cares a lot about convenience, personalized experiences, and social consciousness.”

Through a series of executive interviews across key retail verticals, Canadian retail executives weighed in on which long-lasting dynamics will need to be embraced in a post-COVID world. Five trends were identified and the implications for market planning are clear:

  1. Brand Beware. The Threat of Retail Cancel Culture
  2. Rural is the new Urban
  3. Retail Prescribed by the Consumer
  4. Real Estate Teams Do More than Secure the Dirt
  5. De-Risk Brick & Mortar Strategy through Experimentation

Retail brands are realizing the depth to which the consumer must feel represented – in customer service, product options, marketing, values and beliefs – and that an intimate understanding of the consumer must underpin all strategy decisions for the organization. These behaviours challenge age-old assumptions about what a good retail experience is, and subsequently, how to plan for real estate. As a result, Retail Analytics must adopt a location dimension, or lose the nuance of a local market.

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Canon Solutions America and SoftBank Robotics America Partner to Expand Workplace Health Portfolio with Whiz

Robots

Whiz Is the First Robot Introduced into Canon Solutions America’s Workplace Health Solutions

As part of its commitment to expanding its digital automation solutions and services, Canon Solutions America, Inc., a wholly owned subsidiary of Canon U.S.A., Inc., today announced its new strategic collaboration with SoftBank Robotics America (SBRA), a leading cobotics and automation company based in San Francisco, CA. The alliance initiates a new focus on commercializing robotics and integrated automation as part of Canon Solutions America’s larger Workplace Health Solutions portfolio, starting with Whiz, the commercial robot vacuum that works to elevate the health and safety of varying work environments.

The Whiz offering brings together Canon Solutions America’s industry-leading solutions and exceptional professional services with SoftBank Robotics’ global leadership in collaborative robotics, or cobotics, and impactful automation. Building on Canon Solutions America’s existing Workplace Health Solutions portfolio, and expanding on its current automated solutions including welloStationXCheck-In Online and Parcel Pending by Quadient, the Whiz solution works to meet the need for clean, safe workspaces for those planning to return to the office.

“Our alliance with Canon Solutions America speaks to the speed and scale of demand for robotics under the reinvention of what it means to share and trust indoor space,” said Brady Watkins, senior vice president and general manager, SoftBank Robotics America. “It’s a new era for the workplace, one where robotics, automation, and data are helping to safely welcome people back. As one of the largest distributors of workplace solutions, Canon Solutions America is uniquely positioned to integrate continuous, connected, clean technologies into existing ecosystems and enable a successful return to work.”

Whiz represents the evolution of the company’s commitment to offering innovative solutions in the workplace, introducing robotics into the Canon Solutions America customer technology environment. Whiz combines autonomous navigation technology with Whiz Connect cloud connectivity and integrated analytics for a smarter clean and healthier environment. Whiz is powered by BrainOS®, the award-winning cloud-connected AI software platform for building, deploying and supporting commercial autonomous robots at scale. Already serving commercial spaces spanning major office complexes, connected campuses, and leading healthcare systems, Whiz’s unobtrusive visibility, HEPA-equipped cleaning, and data-confirmed results are integral for the cleanliness priorities of the modern workplace.

“We are pleased to be partnering with a leading technology organization, SoftBank Robotics, to expand our existing Workplace Health Solutions portfolio, while offering our customers peace of mind that their office space will be frequently and efficiently cleaned and connected for near-time insights to help facilitate the return to the workplace,” said Peter P. Kowalczuk, president, Canon Solutions America. “We look forward to continuing to expand this portfolio by offering new, innovative technology and solutions in the robotics space to our customers.”

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2021 Travel Plans Up in the Air, But Most Canadians Won’t Be: CPA Canada Survey

Travel plans

Food, transportation and home renovations top the list of Canadians’ anticipated increased expenses this summer

With summer fast approaching, parts of the country continue to remain under lockdown or heavy restrictions due to COVID-19. Against this backdrop, 79 per cent of Canadians admit they are concerned about how safe it is to travel and many are planning not to, according to a new survey conducted by Chartered Professional Accounts of Canada (CPA Canada).

When asked about their vacation plans for the summer, responses from the CPA Canada 2021 Summer Spending Study reflected caution and uncertainty as 30 per cent of Canadians are not planning to take a vacation this summer35 per cent are still undecided or delaying their vacation decisions, 15 per cent plan to take vacations within the area they live and only 22 per cent plan to vacation outside of the area where they live.

Of the 22 per cent who plan to vacation outside of the immediate area where they live:

  • Seventy one per cent plan to travel within their province or territory
  • Thirty six per cent plan to journey to another province
  • Fourteen per cent are planning a U.S. vacation
  • Ten per cent are prepared to venture outside Canada and the U.S.

Thirty-five per cent anticipate spending more on transportation fuel this summer than they did in the summer of 2020, with 18 per cent plan to spend more on short-term vacation rentals. However, only 22 per cent anticipate increased travel and vacation costs from last summer.

“A high proportion of Canadians are either not planning to take vacations or are holding off on their decision,” says Doretta Thompson, CPA Canada’s Financial Literacy Leader. “Thirty per cent are not planning to take a vacation at all this summer. We asked a similar question in 2019 and, back then, only 18 per cent weren’t planning to take a vacation.”

Canadians will be keeping themselves busy at home
While respondents were most likely to say they spend the most amount of money in the winter (30 per cent) compared to other seasons, summer (26 per cent) is a close second.

Over half of Canadians (51 per cent) anticipate that their overall household spending will remain the same this summer as last year, however, a notable 38 per cent anticipate that their household spending will increase in 2021. Interestingly, there was no drastic difference in Canadians’ anticipated spending this year when compared to pre-pandemic years, with nearly half of respondents (44 per cent) reporting that they expect their household spending to be the same as a typical pre-pandemic summer and only 29 per cent expecting to spend less this year than they did in a typical pre-pandemic summer.

Aside from travel, Canadians will be keeping busy in other ways, with 34 per cent of respondents anticipating they will spend more on home renovations and property maintenance, while 22 per cent expect to spend more on entertainment than they did last summer. Food tops the list of categories anticipating increased spending this summer, with 43 per cent of respondents expecting to spend more than they did in the summer of 2020.

Overall, despite some shifts in how Canadians plan to spend money this summer, expenditure levels appear to be relatively on par with previous years, albeit targeted less on vacations than in the past. The possibility of unexpected summer expenditures remains the leading cause of stress for many Canadians, as was the case even prior to COVID-19.

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Alicia Bárcena Calls for Prioritizing Nature-based Solutions to Protect Ecosystem Integrity and Biodiversity, and Place Value on their Contribution to the Economy and Society

Biodiversity

The Executive Secretary of the Economic Commission for Latin America and the Caribbean (ECLAC), Alicia Bárcena, called today for taking decisive climate action including to decarbonize economies, restore ecosystems and place value on their contribution to the economy and society, during a seminar organized by the Regional Office of the United Nations Environment Programme (UNEP) and the National College of Mexico.

During her presentation on the economic perspective regarding sustainability, the senior United Nations official stressed the urgency of changing the development paradigm and model that have led us to overshoot the planet’s limits, with high economic and social costs.

“A window of opportunity opens today to rethink the development of the infrastructure of life: environment and nature, health, pensions, housing, employment, social protection, and moving towards a care society,” Alicia Bárcena affirmed.

ECLAC’s highest authority was one of the main speakers on the second day of the event held to present the report Making Peace with Nature: A scientific blueprint to tackle the climate, biodiversity and pollution emergencies, produced by UNEP, which was moderated by Julia Carabias, an academic from the Faculty of Sciences of the National Autonomous University of Mexico (UNAM).

Participating in the event with Alicia Bárcena were José Sarukhán, National Coordinator of the National Commission for the Knowledge and Use of Biodiversity (CONABIO); Cristián Samper, President and Chief Executive of the Wildlife Conservation Society; Hesiquio Benítez, Director of International Cooperation and Implementation of CONABIO; María Jesús Iraola, Lead Author and Coordinator of the sixth Global Environment Outlook (GEO-6) for Youth report; and Piedad Martin, UNEP’s Deputy Regional Director in Latin America and the Caribbean.

In her presentation, ECLAC’s Executive Secretary stressed that the region has extraordinary, but highly threatened, biodiversity, with the greatest loss of primary forest, 31 areas with eutrophication of the seas and 19 dead zones, 25% of socio-environmental conflicts globally, and incomplete and fragmented environmental institutions with small budgets and weak regulations.

She added that during the pandemic, the region has experienced greater use of natural resources for subsistence, self-employment, energy and food, among other purposes. It has also recorded an increase in illegality, above all in mining; a weakening of environmental rules and of environmental impact assessments on major development projects; reprimarization; and a reduction in environmental budgets.

Alicia Bárcena specified that COVID-19 broke out in the region in the context of three structural crises: a social crisis that is reflected in the high levels of inequality, with severe social, political and economic consequences; an economic crisis that translates into low growth in production and trade, and the decoupling of the financial system; and an environmental crisis that is manifested in environmental degradation that is irreversible in many cases, with potentially disastrous consequences for the planet.

“These three crises and the policies needed to overcome them mutually interact. Changing the region’s development pattern requires acting on all three in a coordinated way. To achieve this, a minimum growth rate of 4% is needed. This must be accompanied by a very sharp redistribution – that the wealthiest 1% give to the poorest 1% – and that is only attainable through fiscal policies,” Alicia Bárcena explained.

She emphasized that ECLAC proposes a transformative recovery with equality and sustainability. To that end, the Commission has identified eight sectors that promote technical change, generate employment and reduce external constraints and the environmental footprint. These are the transition towards renewable energy, sustainable electromobility in cities, an inclusive digital revolution, the health-care manufacturing industry, the bioeconomy, the care economy, the circular economy, and sustainable tourism.

ECLAC’s Executive Secretary called for bridging the short and long term through expansionary fiscal policy and low interest rates, an increase in tax collection using the criteria of progressivity, the expansion of sources of taxation, and the harnessing of sources of public finance to mobilize private financing, such as bonds and green finance.

On environmental matters, she called for internalizing the information available in countries’ national accounts, introducing environmental taxes or adjusting those already in existence, incorporating sustainability into the evaluation of investment, and measuring development, natural heritage and well-being and not just market transactions, among other measures.

Finally, Alicia Bárcena urged for strengthening regional integration.

“We are a megadiverse region and we have to talk about biodiversity with a single voice, and with a renewed multilateralism,” she concluded.

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Why the Digital Era Isn’t the End for Print Marketing

Advertising

Digital marketing continues to grow in this new age of online transactions and endless social media streams. Whether it’s seeing a targeted advert among your Google searches or an engaging competition for you to take part in on Instagram, we’ve all become familiar with these new methods of persuasion.

However, if you’re looking for ways to market your brand, don’t pitch all your tents within the digital landscape. There’s still success to be found among other promotional techniques. One method, print marketing, still has a large amount of influence among consumers. In fact, their use can have significant benefits over their digital alternatives.

Here, we explore why print products still have a role to play in your marketing strategy.

 

Banner blindness

A key advantage of digital marketing, particularly on the front of paid advertisements on social media, is the ability to target consumer identities. This means that your business can focus its time, attention, and money on promoting its products to only people that have the potential to buy them. For example, a seller of wedding suits would be able to target male customers that are engaged, understanding that they are more likely to buy from them.

However, while the focusing abilities of digital marketing can be useful, your advert may go unnoticed thanks to competition and the number of adverts that appear alongside your promotion. This is referred to as ‘banner blindness’.

Banner blindness is where customers may consciously or subconsciously ignore banner-like content on social media. Essentially, we’ve become so aware of adverts online that we have trained ourselves to look past them.

According to one study, 86 per cent of consumers suffer from banner blindness. This should be taken into account when launching your digital campaign. Find out your advert reach, and then consider that only 14 per cent of people will actually take notice of it.

In this respect, print marketing has significant advantages. The use of direct mail, for example, drives higher engagement rates. In one survey, 75 per cent of direct mail receivers were able to recall the brands that had sent them print products. This shows that consumers have a more profound mental connection with direct mail as opposed to viewing content online.

Businesses should consider how the engagement of digital media compares to print media, understand the investment of both, and why print advertising like direct mail can contribute more to their business.

 

Trust is key

Digital advertising relies on concepts of data sharing and how your private information is managed. Recently, this has become a subject for scrutiny by the public and technology companies. Apple’s new privacy update aims to clarify what data is shared by private apps and companies. Meanwhile, Netflix’s The Social Dilemma highlighted the expansive profiles that tech companies can build around our public information and searches.

The effect of this reflects a low level of trust in social media and adverts on these platforms. Only 42 per cent of people trust adverts online. This compares to the trust instilled with printed adverts. 61 per cent of consumers say they trust adverts printed in newspapers.

The reasons for this vary. But print products and newspapers are usually recognised as established and familiar. People understand that print is an investment, and therefore businesses that use this method are well-founded and trustworthy. Paper speaks louder than pixels.

 

Make a statement, not a whisper

Good marketing has a strong message. While digital marketing can be a useful tool for creating loud campaigns, there are still limits to what we can do in the virtual world. In this respect, there are no limits to physical and print campaigns.

The use of billboards, for example, is just another example of increasing innovation in marketing. No longer are print campaigns based around posters. Billboards are now interactive, intelligent, and can generate more conversation than any digital ad.

Advertising its limited drama series, Dracula, the BBC used a billboard as a canvas for shadow art. Wooden stakes were planted into the board, in almost a sporadic fashion. During the day, the billboard appeared intriguing at best. By night-time, spotlights were able to cast a shadow from the stakes’ placement to reveal the image of Dracula himself. This was an intelligent campaign because it relied on the eeriness of nighttime to reveal the monster.

Likewise, chocolate biscuit company Kit-Kat left its billboard half complete, with only part of the poster pasted on a wall, leaving a ladder in its wake. The brand was able to rely on its longstanding motto: ‘Take a Break’. The billboard implies that those creating the poster have taken a break during their work.

In essence, these print campaigns have started a conversation, rather than just a blatant advertisement of a product. Print campaigns continue to prove themselves as the best method for creative advertising, something which is difficult in the saturated sphere of the online world.

 

Print products have a longstanding tradition within the marketing industry. But while the digital world has dominated conversations around promotional methods in the past decade, it’s unsurprising that businesses are returning to this persuasive and effective advertising technique. Your business should never have to choose between both digital and print. Combined, effective print marketing along with intelligent digital publications can lead your business to success.

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