Business
From the Simplr studios in San Francisco, this is your daily briefing. IntroductionThis is Today in Five with Madison Huffman, for today, Monday, March 23rd. Here are today’s headlines.Large retailers are making dramatic changes in light of the current COVID-19 pandemic. Companies like Amazon, Best Buy, Target, and Walmart have taken steps like increasing employee wages, hiring more employees, and providing paid leave as the economic landscape and consumer demand changes rapidly.Here are the latest headlines.COVID-19 Affecting Shipping and FulfillmentUnsurprisingly the COVID-19 pandemic is impacting shipping and fulfillment. New study findings from delivery experience management company, Convey, show that shipping volume for cleaning and household supplies is up 52 percent. At the same time, order fulfillment and delivery are experiencing significant delays. According to the findings, fulfillment time has increased by 40 percent during the past three weeks. The trend has been especially evident in large-format deliveries, indicating supply chain slowdowns. Best Buy Goes "Contactless"Starting yesterday, Best Buy is limiting its U.S. stores to contactless curbside pickup, allowing only its employees into stores, according to a statement from the company. The company has also suspended its in-home installations and repair services, as well as its product trade-in and recycling services. The changes come in response to the rapidly evolving Coronavirus situation and as they see a surge in demand for products needed to work or learn from home. Walmart Plans to Hire 150,000Retail giant, Walmart, is planning on hiring 150,000 people in the midst of the pandemic to help keep up with consumer demand. The roles would initially be temporary, though many will convert to permanent roles over time, Walmart said. The roles are based in the retailer’s stores, clubs, distribution centers, and fulfillment centers. The company also announced $550 million dollars in bonuses to reward its workers. Walmart’s President and CEO, Doug McMillion, said, “We know millions of Americans who are usually employed at this time are temporarily out of work, and at the same time we’re currently seeing strong demand in our stores...We’re looking for people who see Walmart as a chance to earn some extra money and perform a vital service to their community.”Target Increasing Benefits Amid COVID-19 OutbreakTarget joins Walmart on a growing list of retailers increasing the benefits for its employees in response to COVID-19. The company is investing more than $300 million dollars in added wages, a new paid leave program, bonus payouts, and associate and community relief fund contributions. Full-time and part-time hourly associates working in stores and distribution centers will receive a two-dollar pay increase through at least May 2nd. In addition, U.S. team members who are 65 or older, pregnant, or who have underlying medical conditions as defined by the CDC now have access to 30 days of paid leave if they prefer not to work. Target’s CEO Brian Cornell said, “With each passing day, it’s clearer how indispensable our team is to communities across the country as our guests cope with the coronavirus...Increasing their compensation for a job incredibly well done and ensuring continued compensation for those who need to care for themselves and their families is a reflection of our company’s values and simply the right thing to do.”ClosingMost leaders feel overwhelmed when the unexpected impacts the customer experience. With Simplr customer service, you’ll always have on-demand staffing to answer every customer question–so you can be in control and stay focused on growing the business. Visit simplr.ai to learn more.Thanks for listening to this latest episode of Today In Five. Until next time.