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How COVID is changing consumer behavior

Kevin Sneader, global managing partner for McKinsey & Company, provides perspective on how corporate business leaders think in response to the coronavirus crisis:

What does the next normal consumer look like?

COVID-19 is changing how consumers behave across every aspect of their lives. A few examples. Overall, consumption is declining. 12% drop in private consumption is anticipated in the US over the next two years. 35% of Netflix subscribers now use Netflix for educational content. And over 40% of consumers are watching more TV, 40% more social media. But beneath these broad shifts, new behaviors are hiding significant variation. One example, for all the excitement around online shopping, not everyone liked the experience. 60% of Italian consumers shopped online during the crisis, a dramatic increase, but less than 10% said that they found the experience satisfying.

The result? Companies need to rethink their engagement with consumers and specifically reflect on the following, how consumers get their information, meet them where they are, not where they used to be, where consumers purchase, given a rebalancing of the channels that they use, and understand what they value in the shopping experience. Online shopping can certainly be efficient. And when there are no other alternatives, it can even be exciting. But it can also be deadly dull and often frustrating. Reengineering that experience is therefore key.

President and CEO of the National Urban League, Marc Morial, comes to 'That Made All the Difference' podcast to discuss his time as mayor of New Orleans, today's challenges, and what it will take to build a more just, equitable and inclusive society.

Listen now.

Though celebrations will surely be more subdued this year, many Germans will still gather (virtually) on October 3 to celebrate thirty years since reunification.

After the fall of the Berlin Wall — and the subsequent collapse of the Soviet Union — Germany reunited in a process whereby the much wealthier West absorbed the East, with the aim of expanding individual freedoms and economic equality to all Germans.

But thirty years later, this project has — to a large extent — been difficult to pull off. The economic and quality of life gap is shrinking, but lingering inequality continues to impact both German society and politics.

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GZERO Media, in partnership with the Bill and Melinda Gates Foundation and Eurasia Group, today hosted its second virtual town hall on the hunt for a COVID-19 vaccine and the challenges of its distribution.

The panel was moderated by New York Times science and health reporter Apoorva Mandavilli and featured Gates Foundation's Deputy Director of Vaccines & Human Immunobiology, Lynda Stuart; Eurasia Group's Rohitesh Dhawan, Managing Director of Energy, Climate & Resources; Gates Foundation CEO Mark Suzman; and Gayle E. Smith, the president & CEO of ONE Campaign and former Administrator of the U.S. Agency for International Development.

Watch the full video above.

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Donald Trump's presidency has irked a lot of people around the world. And in fairness, that's no surprise. He was elected in part to blow up long-standing assumptions about how international politics, trade, and diplomatic relations are supposed to work.

But while he has correctly identified some big challenges — adapting NATO to the 21st century, managing a more assertive China, or ending America's endless wars in Afghanistan and Iraq — his impulsive style, along with his restrictions on trade and immigration, have alienated many world leaders. Global polls show that favorable views of the US have plummeted to all-time lows in many countries, particularly among traditional American allies in Europe.

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Watch: Tolu Olubunmi in conversation with Dr. Samira Asma from the World Health Organization on how they are advancing health data innovation in the age of COVID-19.

This content is brought to you by our 2020 UN General Assembly partner, Microsoft.

Watch UN Innovation Room conversations weekly on Thursdays at 9 am EDT: https://www.gzeromedia.com/unga/livestream/

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