Wakabayashi Weekly, August 10th: Here's what went down last week.

HEALTHCARE

July-Reported Breaches Affect 1.1 Million Patients

ModernHealthcare.com, August 06, 2020

Healthcare providers, insurers and their business associates reported 28 data breaches affecting more than 1.1 million patients to the federal government last month. 2020 is on track to be the year with the second-highest number of reported data breaches involving 100,000-plus people since HHS' Office for Civil Rights began maintaining its database of healthcare data breaches in 2010. In 2019, organizations reported 40 data breaches affecting more than 100,000 people—the highest amount reported in a single year to date.

So far, organizations have reported 18 such data breaches in 2020. Just one of the 100,000-plus data breaches, a ransomware attack at a medical group in Tampa, Fla., was reported last month, according to OCR's breach portal. 

CMS to Boost Outpatient Payments, Cut 340B Again

ModernHealthcare.com, August 04, 2020

CMS proposed a 2.6% pay raise for Medicare outpatient services, but safety-net providers could see their payments for 340B drugs slashed again. According to the proposed 2021 outpatient prospective payment system rule, total payments to providers would increase by $7.5 billion to nearly $84 billion.

But CMS wants to cut reimbursements for 340B-acquired drugs by more than 6%. The Trump administration may decide to extend the current payment policy of ASP minus 22.5% for 340B-acquired drugs if it doesn't move forward with more cuts, according to the rule.

CMS will Boost Inpatient Rehab Payments by 2.4% in 2021

ModernHealthcare.com, August 04, 2020

CMS will increase Medicare's prospective payment rates for inpatient rehab facilities by 2.4%—or about $260 million—in 2021, the agency said. The final rule also caps wage index cuts at 5% and ends the post-admission physician evaluation requirement. Non-physician practitioners will soon be able to perform some weekly visits if state law allows it, CMS said. The new rule goes into effect from October 1.

CMS noted that while federal law typically mandates 60 days' notice before a final rule goes into effect, it's waiving that requirement. The agency said it was unable to publish the rule on time because it was bogged down by the COVID-19 pandemic.

Trump Orders HHS to Make Telehealth Expansion Permanent

ModernHealthcare.com, August 03, 2020

CMS swiftly followed President Donald Trump's order to review and continue Medicare's coverage of telehealth services. Shortly afterwards, CMS proposed to permanently allow Medicare providers to use telehealth to carry out home visits for so-called evaluation and management services and some visits for people with cognitive impairments.

The agency also wants to temporarily continue telehealth services for emergency department visits and other services to give the industry "time to consider whether these services should be delivered permanently through telehealth outside of the (public health emergency)."

The Trump administration also plans to simplify billing and coding requirements for office and outpatient visits in its proposed 2021 physician fee schedule by adopting many changes suggested by the American Medical Association and other groups. According to CMS, the proposed changes will save clinicians 2.3 million hours each year.

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RETAIL

NRF: No-Touch Payment Usage Surges Amid COVID-19

Chain Store Age, August 06, 2020

Mobile and contactless payments are gaining popularity amid consumer concerns over touching surfaces during the pandemic. Two-thirds (67%) of retailers surveyed now accept some form of no-touch payment, according to the 2020 edition of “The State of Retail Payments” study, conducted for the National Retail Federation every other year by Forrester.

The total includes 58% that accept contactless cards that can be waved past a card reader or tapped on the reader (up from 40% the prior study) and 56% that take digital wallet payments on mobile phones (up from 44%).

Survey: Consumers Stick with Brick-and-Mortar Amid Pandemic; Stocking Up Again

Chain Store Age, August 06, 2020

A new survey suggests consumers are spending less than before the pandemic, but many are visiting physical stores. According to results of a July 2020 survey of more than 12,000 U.S. consumers conducted by shopping rewards app Shopkick, 52% of respondents who say non-essential retailers have reopened in their area have already visited these stores.

Of those who have visited non-essential retailers, 58% have hit apparel, shoe and accessories stores, followed by restaurants and bars (55%) and beauty stores (39%). But for the 48% of respondents who have not visited reopened retailers yet, 65% say they plan to wait more than one month to visit, a 20% increase from June.

Study: Retail ‘Winners’ Recognize Need to Respond to Pandemic

Chain Store Age, August 06, 2020

Retailers who outperform their peers are much more likely to see a wide variety of remedial steps for COVID-19 as important. According to new data from RSR Research, retail “winners” with comparable store/channel sales growth above the industry average of 4.5% are more likely than other retailers with average or lagging growth to find a number of changes as “very important” as they work through the pandemic.

These include offering more contactless buying options such as e-commerce and BOPIS (80% vs. 60%), assessing the flexibility of the supply chain to improve responsiveness (73% vs. 45%), changing store design to facilitate social distancing (65% vs. 55%), and offering contactless payment at the point of sale (65% vs. 45%).

eCommerce is 38.6% of All Apparel Sales

DigitalCommerce360, August 04, 2020

Online apparel sales accounted for 38.6% of total U.S. apparel sales in 2019 and 100% of the growth in retail clothing sales. eCommerce’s share of apparel sales has grown nearly 10% points in the past 3 years, as online apparel sales accounted for 34.0% of total U.S. apparel sales in 2018 and 29.9% in 2017, according to Digital Commerce 360 estimates. And eCommerce captured an even greater share of apparel sales throughout 2020 due to the coronavirus pandemic.

B2B Next Panels Discuss Top-of-Mind eCommerce Challenges and Opportunity

DigitalCommerce360, August 04, 2020

B2B eCommerce is undergoing a sea change, a trend some analysts and companies even call a transformation. As COVID-19 changes the entire dynamic of how companies of all sizes do business, the result is a fundamental and permanent shift to increased digital commerce. The survey of 50 buyers is ongoing.

But early responses finds that 82% of companies plan to spend “somewhat” to “significantly” more online this year. 34% of B2B buyers also make digital purchases of goods and services for their organization at least weekly, including 13% several times each week.

Survey: Consumers Shift Shopping Online, Get Personal

Chain Store Age, August 03, 2020

Retailers with a strong online presence and personalization program have reason to be happy. According to a new survey of over 800 U.S. consumers from personalization software provider Qubit, 44% of respondents are shopping online more now than in 2019. One in four respondents do more than 90% of their shopping online. Close to half (46%) of respondents say they are less loyal to the brands they love, and 37% are shopping with more brands than they did in 2019.

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MANUFACTURING

U.S. Factory Orders Beat Expectations in June

Reuters, August 04, 2020

New orders for U.S.-made goods increased more than expected in June, suggesting the manufacturing sector was regaining its footing though rising COVID-19 cases threaten the tentative recovery.

The Commerce Department said factory orders increased 6.2% after rebounding 7.7% in May. Still, orders remained below their February level. Economists polled by Reuters had forecast factory orders advancing 5.0% in June. 

U.S. Manufacturing Activity Near 1-1/2-Year High, Factory Job Losses Persist

Reuters, August 03, 2020

U.S. manufacturing activity accelerated to its highest level in nearly 1-1/2 years in July as orders increased despite a resurgence in new COVID-19 infections, which is raising fears about the sustainability of a budding economic recovery.

Still, the road to recovery for manufacturing likely remains long and bumpy, with the survey from the Institute for Supply Management (ISM) also showing hiring at factories remaining subdued for a year now. About 72% of industries reported growth last month.

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FINANCIAL SERVICES

Mortgage Credit Availability Increased in July

Mortgage Bankers Association, August 06, 2020

Mortgage credit availability increased in July according to the Mortgage Credit Availability Index (MCAI), a report from the Mortgage Bankers Association (MBA) that analyzes data from Ellie Mae's AllRegs? Market Clarity? business information tool. The MCAI rose by 1.5 percent to 126.9 in July.

A decline in the MCAI indicates that lending standards are tightening, while increases in the index are indicative of loosening credit. The index was benchmarked to 100 in March 2012. The Conventional MCAI increased 2.9 percent, while the Government MCAI increased by 0.4 percent. Of the component indices of the Conventional MCAI, the Jumbo MCAI increased by 5.0 percent, and the Conforming MCAI rose by 1.2 percent.

MBA Study Finds Home Equity Lending Growth Hindered by Alternative Products and COVID-19

Mortgage Bankers Association, August 06, 2020

Home equity loan debt outstanding and borrower utilization rates declined in 2019, and mortgage lenders anticipate originations to fall again this year before increasing modestly in 2021.

This is according to the Mortgage Bankers Association's (MBA) 2020 Home Equity Lending Study on lending and servicing of open-ended home equity lines of credit (HELOCs) and closed-end home equity loans (HE loans).

U.S. Private Payrolls Miss Expectations in July

Reuters, August 05, 2020

U.S. private payrolls growth slowed sharply in July, pointing to a loss of momentum in the labor market and overall economic recovery as new COVID-19 infections spread across the country.

The ADP National Employment Report showed private payrolls increased by 167,000 jobs last month. Data for June was revised up to show payrolls jumping by 4.314 million jobs instead of advancing 2.369 million as previously estimated. Economists polled by Reuters had forecast private payrolls increasing by 1.5 million in July.

Share of Mortgage Loans in Forbearance Decreases for Seventh Straight Week to 7.67%

Mortgage Bankers Association, August 03, 2020

The Mortgage Bankers Association's (MBA) latest Forbearance and Call Volume Survey revealed that the total number of loans now in forbearance decreased by 7 basis points from 7.74% of servicers' portfolio volume in the prior week to 7.67% as of July 26, 2020. According to MBA's estimate, 3.8 million homeowners are in forbearance plans.

The share of Fannie Mae and Freddie Mac loans in forbearance dropped for the eighth week in a row to 5.41% - an 8-basis-point improvement. Ginnie Mae loans in forbearance increased by 1 basis point to 10.28%, and the forbearance share for portfolio loans and private-label securities (PLS) decreased by 16 basis points to 10.37%.

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HOSPITALITY

Travel Advisor Survey Indicates Clients Deterred By Coronavirus Are Banking On Vacations In Early 2021

Hospitality Net, August 07, 2020

The latest findings of the Travel Advisors COVID-19 Sentiment Barometer (Wave II), released in partnership by MMGY Myriad and Travel Market Report, indicate that travelers are being cautious about their international travel plans by booking with some of the longest windows advisors have ever seen.

The industry survey of North American travel advisors has revealed that the majority of travel being booked is for seven or more months in advance. This time frame is even longer for international travel, cruises and group tour vacations. However, there has been a slight increase in the percentage of travelers booking North American travel for the next 30 days, rising from 10% in June to 16% in July.

Overall, advisors report that 42% of all inquiries received are about U.S. destinations. Prior to COVID-19, domestic destinations made up only about 16% of all inquiries. 

Reimagining the $9 Trillion Tourism Economy—What Will It Take?

Hospitality Net, August 07, 2020

Tourism made up 10 percent of global GDP in 2019 and was worth almost $9 trillion, making the sector nearly three times larger than agriculture. However, the tourism value chain of suppliers and intermediaries has always been fragmented, with limited coordination among the small and medium-size enterprises (SMEs) that make up a large portion of the sector.

Governments have generally played a limited role in the industry, with partial oversight and light-touch management. COVID-19 has caused an unprecedented crisis for the tourism industry. International tourist arrivals are projected to plunge by 60 to 80 percent in 2020, and tourism spending is not likely to return to precrisis levels until 2024. This puts as many as 120 million jobs at risk.

STR: U.S. Hotel Results for Week Ending 1 August

Hospitality Net, August 06, 2020

U.S. hotel performance data for the week ending 1 August showed slightly higher occupancy and room rates from the previous week, according to STR. The results from 26 July through 1 August 2020 showed the occupancy rate at 48.9%, the average daily rate (ADR) at US$100.04 and revenue per available room (RevPAR) US$48.96.

Global Tourism & Leisure Industry M&A Deals Total $3.64bn in Q2 2020

Hospitality Net, August 05, 2020

Total tourism & leisure industry M&A deals in Q2 2020 worth $3.64bn were announced globally, according to GlobalData's deals database. The value marked a decrease of 71.8% over the previous quarter and a drop of 80.4% when compared with the last four-quarter average, which stood at $18.59bn.

Comparing deals value in different regions of the globe, Europe held the top position, with total announced deals in the period worth $2.64bn. At the country level, Sweden topped the list in terms of deal value at $2.32bn. In terms of volumes, North America emerged as the top region for tourism & leisure industry M&A deals globally, followed by Europe and then Asia-Pacific.

Hotel Internet Services Unveils Survey Results Revealing New Insight into Guest and Hotelier In-room Entertainment and Voice Technology Trends

Hospitality Net, August 04, 2020

Hotel Internet Services (HIS), a full-service provider of internet services and solutions for the hospitality industry, has released the full results of its latest survey analyzing how in-room entertainment and technology expectations have continued to increase and how such trends mirror the growing prevalence and reliance on newer technologies in daily consumer life.

Conducted on more than 700 guests and 200 hoteliers, HIS' 2020 survey findings serve as a follow up to similar studies performed in 2018 and 2016, and significantly illustrate that more and more guests are seeking to embrace advanced in-room services and amenities such as content casting and voice-activated functionality.

Q2 2020 Major U.S. Hotel Sales Survey

Hospitality Net, August 04, 2020

The year 2020 will not be soon forgotten as the spread of COVID-19 and society's reaction to the virus have combined to devastate the global economy. U.S. GDP in the second quarter declined by 32.9 percent on an annualized basis, the most significant quarterly decline observed since the 1940's.

While the stock market has rebounded considerably from its lows and seems to be reflecting an optimistic view regarding an economic recovery, base case will be a slow and very bumpy re-opening of the economy.

Legislators and their public health advisors struggle to balance the desire to get people back to their lives with the fear of causing a second and possibly third wave of illness and death. With those concerns, and as long as the federal government is willing to print and distribute money, it would seem reasonable that the choice will be to opt to err on the side of preventing further spread of the virus, which will augur for a slower re-opening.

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AUTOMOTIVE

Auto Sales Down 33.7% During Q2 Despite Improved Climate

The Detroit Bureau, August 07, 2020

U.S. auto sales have been hammered since the coronavirus pandemic hit the country in late February and early March. After tough results in March and April, the market has slowly begun to bounce back, offering encouragement to automakers and the industry and leading them to revise some sales forecasts to brighter numbers than originally predicted.

However, BBVA Research’s newly released July auto sales chartbook reveals that while sales did outrun early projections, it’s still a difficult time for the industry right now with Q2 new vehicle sales down 33.7% from the year-ago period. It’s the worst decline since the Great Recession in 2009. 

New Vehicle Sales Stronger than Expected in 2Q20, According to BBVA Research Auto Sales Chartbook

PR Newswire, August 07, 2020

BBVA Research published its July auto sales chartbook, noting vehicle sales exceeded expectations for the quarter, resulting in an upward revision to the economists' annual forecast. However, sales were still 33.7 percent below levels observed in 2Q2019, the worst decline since 2Q09.

After a sharp contraction in April, sales increased in May and June, supported by fiscal stimulus and the partial reopening of the economy, according to the chartbook. Despite improving figures, the chartbook cautions that sales are likely to remain subdued through the remainder of 2020 as the pandemic continues to wreak havoc on economic activity.

New vehicle sales were stronger than expected in 2Q, resulting in an upward revision to our annual forecast. However, sales were still 33.7% below the levels observed in 2Q19, the worst decline since 2Q09.

Global Automotive Cybersecurity Market is Expected to Reach $7.67 Billion by 2027

PR Newswire, August 07, 2020

According to Stratistics MRC, the Global Automotive Cybersecurity Market is accounted for $1.66 billion in 2019 and is expected to reach $7.67 billion by 2027 growing at a CAGR of 21.1% during the forecast period.

The increasing number of connected cars and electronic content per vehicle, and reinforcement of mandates by regulatory bodies for vehicle data protection are the major factors boosting the growth of the market. However, high costs involved in automotive cybersecurity and complex ecosystem with multiple stakeholders are hampering the growth of the market.

Used Car Prices Spiking as COVID-19 Pandemic Shakes up the Market for New Cars

USA Today, August 05, 2020

According to car-research site Edmunds, used car prices are up because buyers are flooding the used-car market, looking for deals amid high prices for new vehicles, low interest rates and a shortage of new-vehicle inventory.

The average listing price of used vehicles was $21,558 in July, up $708 from June. The price increases are especially sharp for larger vehicles, which are in high demand. Used large pickups, for example, saw a $2,301 increase in average list price in July, hitting $33,264, according to Edmunds. Midsize trucks recorded a $1,812 increase to $29,457.

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QUICK-SERVE RESTAURANTS (QSR)

64% of Diners Say Staff Wearing PPE is Most Important When Eating Out, Survey Shows

Restaurant Dive, August 07, 2020

The percentage of consumers who want to see restaurant staff taking safety precautions and wearing personal protection equipment far outpaces other efforts like hand sanitizer at the table (49%), single-use menus (40%), contactless payment (38%), single-use utensils (37%), a statement about cleaning procedures posted in the restaurant (37%) and order-at-the-table capabilities (33%). 

Fortunately, safety and cleanliness are also a priority for operators. Research conducted in mid-July by Black Box Intelligence found that 96% of them require masks for all restaurant staff. 

U.S. Restaurant Industry Facing “Extinction Event”

SeafoodSource, August 06, 2020

The economic crush of the coronavirus pandemic is continuing to take a serious toll on U.S. restaurants and bars, and many expect they will have to close permanently unless they receive government funding quickly, according to a new survey. Just 66 percent of operators of independent bars and restaurants across the United States recently surveyed by the James Beard Foundation and the Independent Restaurant Coalition had confidence they could stay operational through October without government help.

While many states have issued 50 percent seating capacity mandates for restaurants – though some have reduced that to 25 percent due to local surges in COVID-19 cases – that amount of business is not enough for most restaurants to earn a profit, the survey found.

Survey: Safety Is Now a Top Concern for Restaurant Customers Ordering Off-Premises

The Spoon, August 03, 2020

The Toast report, surveyed over 700 restaurant guests around how their expectations have changed as a result of the pandemic and what they consider to be an ideal restaurant experience today.

Almost half, or 48 percent, of guests surveyed placed cleanliness/safety as the top third concern for delivery orders, behind quality of food and ease of ordering. Another 40 percent placed it as the second main concern for takeout orders. Seeing as we’re in the middle of a global pandemic, it makes sense that safety has wound its way to the top of the list for restaurant consumers.

Coronavirus Impact: Survey of 500 New York City Restaurants Reveals 83% Could Not Pay Full Rent in July

CBS New York, August 03, 2020

A new survey says more than 80% of restaurants and bars in the Big Apple couldn’t pay their rent in July. Of 500 establishments asked, 83% of restaurants and bars could not pay full rent in July and 37% paid no rent at all.

That’s according to a survey by the NYC Hospitality Alliance which Wilson is president. “We are really facing a crisis here among our small businesses,” executive director Andrew Rigie said. “Only 1 in 10 restaurants were able to renegotiate their current leases so far which means a lot of these businesses are not going to be able to survive."

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GROCERY / CONVENIENCE STORES

U.S. Consumers Ready to Stockpile Groceries Again

Supermarket News, August 07, 2020

If the coronavirus pandemic again forces public lockdowns, 53% of American consumers say they will stockpile groceries as well as hygienic and school supplies, according to a survey by CPG sales and marketing firm Acosta.

Of shoppers polled, 38% said they stocked up on groceries at the start of the COVID-19 crisis and would do so again if another shutdown occurs. That scenario also would spur another 15% of respondents to build up their stores of groceries, even though they didn’t stockpile at the beginning of the pandemic. 

Grocery Prices are Skyrocketing, and it Couldn't Come at a Worse Time for American Households

Business Insider, August 05, 2020

Grocery bills are getting more expensive for American families at a time when many of them can't afford the price increase. Overall food prices for "off premises consumption" — which includes groceries — rose about 3.6% on average from April to July, according to newly released government data, but for important pantry staples the increase was even more dramatic.

Since February, Bureau of Economic Analysis data shows, beef and veal prices have spoked 20%, with eggs rising 10%, poultry 9%, and pork 8.5% as supply chains were upended by drastic demand shifts caused by the coronavirus pandemic and outbreaks at processing plants across the country. Many of the disruptions have smoothed in recent months as farmers, suppliers, and grocery chains adapt to an at-home economy and lack of bulk restaurant orders.

Supermarkets Rate High in Pharmacy Customer Satisfaction

Supermarket News, August 05, 2020

Supermarkets again earned the top average score in pharmacy customer satisfaction among brick-and-mortar operators in the J.D. Power 2020 U.S. Pharmacy Study. The annual survey, which polled 13,378 customers who filled or refilled a prescription in the previous three months, measures pharmacy customer satisfaction with chain drug, supermarket, mass merchant and mail-order pharmacies using a 1,000-point scale.

Areas examined include prescription ordering, cost competitiveness, pharmacists, non-pharmacist staff, prescription pickup, the store and prescription delivery. For the fourth straight year, supermarkets garnered the highest overall satisfaction rating for brick-and-mortar pharmacies, with an average category score of 866, edging out mass merchants (859) and chain drugstores (850)

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EDUCATION

Schools will need to Up Their Game in Lockdown 2.0

Forbes, August 07, 2020

While schools scrambled to make the shift to online learning, the vast majority of parents were unhappy with the support their children received during the first coronavirus lockdown, according to a new survey. Just one in five parents (19.6%) were happy with the level of support provided by their child’s school during lockdown, according to a survey carried out by home education provider Oxford Home Schooling. The survey also found that just one in six parents (17.1%) said their child had taken part in a video lesson during lockdown.

ICSC: Back-to-School Shopping Spend to Rise; will Extend into September

Chain Store Age, August 06, 2020

The average consumer expects to spend more on back-to-school items this year than in 2019, despite continued uncertainty over school openings amid COVID-19. That’s according to a survey by the International Council of Shopping Centers, which found that back-to-school shoppers will spend an average of $1,053 on related items, up approximately $200 from last year, with increased spending on electronics and furniture.

The ICSC survey also provided some optimism for brick-and-mortar retailers. Ninety-six percent of respondents plan to make purchases from stores with a physical presence. Click-and-collect shopping has also become a popular option, with 56% expecting to use this method.

COVID-19 Roundup: Study Recommends Testing Students Every 2 Days

Insider Higher Ed, August 03, 2020

A new modeling study published by researchers at Harvard and Yale Universities concluded that a safe way to bring college students back to campus this fall would be to test them for COVID-19 every two days using "a rapid, inexpensive, and even poorly sensitive" test, and to couple this testing with strict behavioral strategies to keep the virus’s rate of transmission -- the average number of individuals infected by a single contagious person below 2.5.

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AIRLINES

U.S. Proposes Fine of $1.25 Million on Boeing for Pressuring Workers at Airplane Plant

Reuters, August 06, 2020

The U.S. Federal Aviation Administration said it was proposing to fine Boeing Co $1.25 million after the agency alleged Boeing managers at its South Carolina plant exerted undue pressure on workers who handle safety oversight work on behalf of the agency.

The FAA said Boeing managers pressured workers to perform inspections on an aircraft that was not eligible for inspection because of various issues; harassed people to make them perform inspections more quickly; threatened to replace workers; and retaliated against a unit manager for filing an undue pressure report by declining to interview the “highly qualified manager” for a promotional position.

Aviation Sector has Biggest Pandemic Default Risk: Insurance Survey

Reuters, August 04, 2020

The aviation sector carries the biggest risk of corporate default as a result of the coronavirus pandemic, according to a survey of insurers published by broker Gallagher. Only 29% of credit and political risk insurers had seen claims directly related to the virus so far, the survey of underwriters, conducted in June and July, showed.

Companies or lenders buy credit insurance to get cover for non-payment for goods or services. Pandemic-related credit insurance claims are, however, likely to rise later this year or early next year, as businesses struggle to stave off default, said Matthew Solley, managing director of structured credit and political risks at Gallagher. Aviation, oil and energy, and tourism were the three sectors in their portfolios that concerned insurers the most. 

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CANNABIS

Researchers See Promising Results Using Cannabis Terpenes to Treat COVID-19

Forbes, August 09, 2020

A recent study examining the use of cannabis terpene formulation - NT-VRL on inflammatory conditions has had some promising results in treating cytokine storm syndrome caused by COVID-19. Cytokine storm syndrome is a form of inflammatory response where white blood cells are activated and release inflammatory cytokines, which activates more white blood cells. The syndrome can cause symptoms like fever, fatigue, and vomiting, but can advance to a point where a patient might need a ventilator to stay alive or might die.

Cannabis Consumption Preferences Cross Generations as Millennials and Baby Boomers Favor Inhalable Products

Marijuana Business Daily, August 04, 2020

For all the strife that seems to exist between millennials and baby boomers, when it comes to marijuana consumption, the two generations actually have much in common. But key differences also exist, which affects how businesses will need to focus their messaging to reach these customers.

According to data from Seattle-based Headset, the top 10 brands in each of four states (California, Colorado, Nevada and Washington) surveyed accounted for less than half of all flower purchases in 2019. Baby boomers and millennials not only prefer the same forms of consumption, but on average, they also both spend roughly the same amount each month on cannabis and have increased their consumption during the COVID-19 pandemic. Both groups reported increasing their monthly spend on cannabis during the health crisis by an average of $27 per month – that’s on top of the $76 they typically have spent. 

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GAS STATIONS

U.S. Sends First Shipment of Crude to Saudi Arabia in Over a Decade

Reuters, August 06, 2020

The United States sent a shipment of crude to Saudi Arabia in June, data from the U.S. Census Bureau showed, in what appears to be the first such delivery since the U.S. ban on crude exports ended in 2015.

The United States shipped about 550,000 barrels, or 18,300 barrels per day (bpd), of crude to Saudi Arabia in June, U.S. Census data shows. The U.S. Energy Information Administration has no recorded instances of a U.S. crude shipment to Saudi Arabia. U.S. Census data shows a miniscule 1,000-barrel shipment to Saudi Arabia in 2002. That was during the four-decade ban on exports.

U.S. Crude Stockpiles Fall Sharply as Refining Rises: EIA

Reuters, August 05, 2020

U.S. crude oil stockpiles fell sharply last week as refining rates hit their highest since March, while gasoline and distillate inventories rose, the Energy Information Administration said. Crude inventories fell by 7.4 million barrels in the week to July 31 to 518.6 million barrels, compared with analysts’ expectations in a Reuters poll for a 3 million-barrel drop. Refinery utilization rates rose 0.1 percentage point to 79.6% of total capacity, their highest level since late March as the U.S. economy slowly recovers from the initial wave of the coronavirus pandemic. Refinery crude runs rose by 42,000 barrels per day, the EIA said.

Oil Edges up to Highest Since March on Hopes for U.S. Stimulus

Reuters, August 04, 2020

Brent oil futures closed at their highest since early March on hopes the United States is making progress on a new economic stimulus package, as well as curbing the coronavirus spread. Brent rose 28 cents, or 0.6%, to settle at $44.43 a barrel, its highest close since March 6. U.S. West Texas Intermediate (WTI) crude rose 69 cents, or 1.7%, to $41.70, its highest finish since July 21. Earlier, both Brent and WTI were trading at their highest since early March.

Those price moves came ahead of the release of an industry report later from the American Petroleum Institute that is expected to show a decrease in U.S. crude stockpiles last week. 

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NONPROFIT ORGANIZATIONS

Nonprofits Expect 50% Drop in Peer-To-Peer Fundraising

Forbes, August 05, 2020

The pandemic has dealt a tremendous blow to nonprofits that raise money via peer-to-peer fundraising (money raised by supporters who ask their connections to sponsor them for taking part in a walk, ride, celebrating a birthday or numerous other types of activities). 

Managers of P2P fundraising programs responding to an online survey and telephone interviews expect virtual campaigns created in response to the pandemic to raise only about half of what had been budgeted for at the beginning of 2020 for physical programs, according to the Peer-to-Peer Professional Forum. Collectively, the 30 largest U.S. peer-to-peer campaigns raised nearly $1.37 billion in 2019, according to the annual Peer-to-Peer Professional Forum Top Thirty study.

U.S. Nonprofit Launches NatRef Technology Library

Hydrocarbons21.com, August 04, 2020

The North American Sustainable Refrigeration Council (NASRC), a 501c3 nonprofit collaborating with the supermarket industry to advance the adoption of natural refrigerants, has launched, for a limited time, a free online library of audio/slide presentations showcasing natural refrigerant technology for both new and existing supermarket facilities.

The library includes presentations from: AHT, Baltimore Aircoil, Bitzer US, Carel USA, Danfoss, Dorin, Emerson, Guntner, Hillphoenix, Hussmann, Kysor Warren, Parker Sporlan, Rivacold, Systems LMP, True Manufacturing and Zero Zone.

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About Dennis Wakabayashi

My mission is to unite brands and consumers through empathy, collaboration, and growth. I do this by helping the world's leading brands deliver Customer Experience solutions across the entire path to purchase including supply chain & logistics. 

For regular marketing and Customer Experience, (CX) updates follow me on on Instagram @justintimeCX or twitter @JustintimeCX

" SPECIAL THANKS! To the teams at RRD who pulled this amazing round up together. "