Pandemic Harmed 58% of Slovenian Firms, Benefited 17%

By , 28 Jul 2020, 10:20 AM Business
Pandemic Harmed 58% of Slovenian Firms, Benefited 17% Montage: JL Flanner

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STA, 27 July 2020 - The Covid-19 pandemic has impacted Slovenian companies much more unequally than the latest recession in 2009. While 58% of companies have had negative effects, 17% of them had positive effects, according to a survey carried out by the Slovenian Marketing Association and the pollster Valicon.

In the autumn of 2009, 79% of the companies which participated in the recent survey had reported about negative effects of the global economic crisis in a poll carried out by the Marketing Association at the time.

Back then, positive effects were felt by 6% of the participating companies, the association said, adding that "compared to the 2009 crisis, when companies mostly did not detect positive effects of the economic crisis, a larger asymmetry is noticeable now."

Also implying that the pandemic has not affected all companies equally is the fact that only 41% of the polled companies think that they will be affected by the pandemic equally as other companies in their industry.

"In 2009, 63% of companies assessed that they will be affected to the same extent as other companies in the industry," the association said on Monday.

More than half (56%) of the recently polled companies plan to keep the marketing activity at the same level after the epidemic), 21% plan to scale back their marketing and 24% to boost it.

Almost three-quarters of the companies (71%) intend to keep the funds intended for marketing at the same level in 2021, the association said, noting that during the 2009 crisis, it was marketing budgets that had gotten the most restricted.

Among the planned marketing activities, more investment is expected in the opening of digital sales channels (62%), introducing new business models (50%), apps and web interfaces (47%) and advertising on social media (46%).

Marketing Association president Petra Čadež commented on the survey by saying that despite the negative effects of the pandemic, a positive shift in the strategic understanding of marketing in companies could be detected.

"It could be noticed that some companies have found new opportunities within the given situation and adjusted their strategies," she added.

Matjaž Robinšak of Valicon said that the time was most probably coming when marketing would have to adapt several times. "Constant search for new models and looking for new opportunities will be the key for success," he added.

The Marketing Monitor 2020 survey was carried out in June on a sample of 64 members of the Marketing Association.

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