Observations from the dataset:
1- The first public support statement from a private Turkish company came 5 days after the first Covid-19 case was announced in Turkey. The shortest time between the announcement of company support and of the first Covid-19 case in the 11 countries in our global data was 27 days. 63% of companies in Turkey had announced their support statements within the first 3 weeks and almost all companies in our global data had begun announcing their pledges 4 weeks after the official Covid-19 case announcement in their respective countries.
2- Turkish companies with the highest pledge amounts included Anadolu Group (TL30M), Koç Group (TL20M), and Mey Diageo’s donation of TL20M worth of products and postponement of TL100M worth of receivables. Highest pledge amounts we detected in our global data included Airbnb ($250M), Wells Fargo ($175M), Coca Cola ($120M), Facebook ($120M), and Netflix and Bank of America ($100M each).
3- Communication services sector companies are improving their offerings by giving more voice and data for what individual and corporate customers already pay, ensuring uninterrrupted service in case of nonpayment, and allowing public use of current wifi spots.
4- As consumers drastically cut down discretionary spending either due to social distancing related closures or fiscal belt tightening, consumer discretionary sector companies are allocating their otherwise idle assets to deliver goods and services that are now in demand for the public’s wellbeing. Major examples include hotels allocating their rooms to health workers, textile brands converting manufacturing lines to produce protective clothing, and automakers manufacturing medical equipment. Companies are bound to learn and grow in this process as they flex their operational muscles and transform their products and services. The more a company works to provide for and build with the communities, the more it will maintain agility in its strategic and operational capacity, while sustaining awareness of its hard earned brand in the market going forward.
5- Consumer staples sector companies whose products and services are still in high (if not higher) demand are providing support using a variety of methods from cash donations to transforming their operations to deliver new products and services in demand for public health. They are also instituting heightened hygiene protocols and new senior citizen group specific offerings in their customer service operations.
6- Companies in the energy sector are another group that have been hit hard by the halt in the economic system. Nevertheless, some are improving their hygiene protocols for workers and consumers, donating fuel for public use, and supporting healthcare workers both by cash donations and direct medical equipment provision.
7- Financials sector companies are focused on keeping their customers in the system by offering them relief from fees for banking transactions and dues incurred for previously purchased financial services.
8- Health care sector companies are busy trying to develop vaccines, drugs, and medical devices for use in the fight against the pandemic.
9- Information technology sector companies are more relevant than ever for the society. They are contributing by making their products and services free for use by the general public or by specific user groups such as healthcare workers and teachers & students. Start ups found a platform to increase visibility for their niche products & services by offering them free to the public or by tapping a new customer need or group. Two striking examples were an online fortune telling platform offering free psychological relief to anxious users and another donating cameras of its pet watch & care videocam systems to healthcare workers with pets.
10- Materials sector companies donated disinfection chemicals and hygiene products critical for public health.
11- Real estate sector companies have also been one of the hardest hit by the pandemic. The more charitable ones are primarily foregoing rent for unused spaces.