Research: How Channel Chiefs Are Responding to COVID-19
How are channel chiefs adjusting their business, technology, finance, marketing and partner strategies amid the coronavirus pandemic? New COVID-19 channel research from The 2112 Group reveals some preliminary answers.
At a high level, The 2112 Group notes, economists say the U.S. economy will contract 14% in Q2 2020 and the Eurozone will see activity decline 26%. It’s far too soon to determine COVID-19’s effect on the channel, the research notes, but the report provides a “snapshot of how tech vendors and channel professionals are reacting to the crisis.”
Among the report’s key takeaways:
- In the early stages of the pandemic, one-third of vendors noted a slowdown in product orders and service cancellations, which disrupted revenue and cash flow.
- While channel professionals are generally pessimistic about the general economic outlook for the remainder of 2020, they remain relatively confident about the potential of their channels to perform.
- 35% of vendors are extending payment terms and credit for partners and customers that are struggling financially. And 13% are working to infuse strategic partners with working capital or working with banks to arrange capital for partners.
That’s just a taste of the survey findings. Find all the data here.
by Joe Panettieri
> Read the entire article, Research: How Channel Chiefs Are Responding to COVID-19, at channele2e.com.