Dear Merchants and Friends of EMB:
The COVID-19 pandemic has certainly turned our worlds upside down as we have faced disruptions in our work and our everyday life. Unfortunately, there is no foreseeable end to this human and economic tragedy as we grapple with enforced social distancing, loss of jobs, and of course, fear of contracting the virus itself.
As there is currently no vaccine or effective treatment available, many have fallen victim. There were an estimated 500,000 or more deaths worldwide and counting. With 143,000 deaths (as of 7/20/20) in the U.S. alone (and climbing), this amount is growing by 600 daily. This of course has placed a heavy burden on our already overwhelmed hospitals and staff. Add to this millions of travel plans that have been canceled, business shutdowns, and a global recession, things seem largely uncertain.
In spite of all the dismal news reports, there does appear to be a light at the end of the proverbial tunnel. The latest report issued by Marlin & Associates or (M&A), reveals some promising trends in eleven segments of the FinTech, Data and Analytics industry.
As you can imagine, merchants are facing an uphill battle of combating fraud as more consumers are spending more time online and making their purchases. This makes everyone more vulnerable to having their credit card information stolen, impacting reputations and bottom lines. Merchants also have to make strategic decisions that will help weather the great economic storm caused by the impact of COVID-19.
A positive aspect of social distancing is that, in most of the developed countries, it seems to be taking effect. This has translated to more vacant hospital beds and a cautious re-opening of some countries. This would greatly benefit economies as it will increase employment, increase retail sales, increase new-home sales, and help “manufacturing indices” make a comeback.
As you will find in M&A’s report, there are some great deals happening. It was reported that the month of June was one of the most active months for the U.S. IPOs since September 2014. With a boost in “deal related discussions.” As we slowly move towards a solution to this global pandemic, and if these trends continue, there will definitely be progress all around. When this pandemic finally comes to a close, it has been proven that a repression of demand will stimulate economic activity. Most (but not all) businesses will be restored.
When you are ready to get back to business, we’ll be ready.