Brands in the Time of Coronavirus
Image Source: Buzzfeed
It goes without saying that the recent health crisis has had significant financial ramifications on businesses of all sizes and across all sectors. However, amid the uncertainty and much-maligned “panic buying,” there are a handful of companies, brands and industries that have experienced an unexpected boom during these trying times (Purell, anyone?).
Among the lucky few who have seen significant sales increases as consumers stock up for quarantines, are packaged goods in the health and wellness category, especially shelf-stable ones like coconut water brand, Vita Coco. The company saw more than a 100% increase in sales across major retailers as Americans hit the stores in droves to pack their pantries. But instead of pocketing the unintended windfall, Vita Coco recently announced that it will donate $1M of its incremental profits to Feeding America and No Kid Hungry to support vulnerable populations impacted by the COVID-19 outbreak. Best of all, it took the opportunity to encourage other businesses in similar positions to do the same.
Meanwhile, as a result of all that toilet paper hoarding going on (how much do you really need anyway?), Cottonelle recently announced that it will donate one million rolls of toilet paper and $1M to the United Way Worldwide COVID-19 Community Response and Recovery Fund, as well as an additional $1 up to $100,000 for every use of the hashtag #ShareASquare on social media. While the concept may be a bit clunky (the hashtag celebrates “instances of toilet paper sharing”…whatever that means…) the effort and resulting impact will help many in need.
It may be tricky to navigate sensitive marketing during a global crisis, but when the ends are ultimately altruistic, it can help consumers feel a tad bit better about their purchasing decisions (even if they are initially driven more by panic than philanthropy).
Your move, Purell!
Posted by Karen