ANL 33.60 Increased By ▲ 0.50 (1.51%)
ASC 14.53 Increased By ▲ 0.18 (1.25%)
ASL 24.88 Increased By ▲ 0.40 (1.63%)
AVN 91.39 Decreased By ▼ -1.11 (-1.2%)
BOP 9.10 Increased By ▲ 0.04 (0.44%)
BYCO 9.80 Increased By ▲ 0.10 (1.03%)
DGKC 133.25 Increased By ▲ 1.06 (0.8%)
EPCL 50.28 Increased By ▲ 0.18 (0.36%)
FCCL 24.40 Increased By ▲ 0.10 (0.41%)
FFBL 24.29 Decreased By ▼ -0.11 (-0.45%)
FFL 15.12 Increased By ▲ 0.10 (0.67%)
HASCOL 10.60 Increased By ▲ 0.04 (0.38%)
HUBC 86.02 Increased By ▲ 0.92 (1.08%)
HUMNL 6.80 Increased By ▲ 0.05 (0.74%)
JSCL 25.70 Increased By ▲ 0.45 (1.78%)
KAPCO 41.00 Increased By ▲ 2.25 (5.81%)
KEL 3.96 Decreased By ▼ -0.02 (-0.5%)
LOTCHEM 14.54 Increased By ▲ 0.11 (0.76%)
MLCF 46.10 Increased By ▲ 0.22 (0.48%)
PAEL 37.02 Increased By ▲ 0.32 (0.87%)
PIBTL 11.38 Decreased By ▼ -0.05 (-0.44%)
POWER 10.25 Increased By ▲ 0.10 (0.99%)
PPL 90.50 Increased By ▲ 0.80 (0.89%)
PRL 26.50 Increased By ▲ 0.25 (0.95%)
PTC 8.66 Increased By ▲ 0.06 (0.7%)
SILK 1.35 No Change ▼ 0.00 (0%)
SNGP 41.30 Decreased By ▼ -0.10 (-0.24%)
TRG 144.80 Increased By ▲ 1.70 (1.19%)
UNITY 30.10 Increased By ▲ 0.31 (1.04%)
WTL 1.40 Decreased By ▼ -0.02 (-1.41%)
BR100 4,925 Increased By ▲ 36.63 (0.75%)
BR30 25,546 Increased By ▲ 270.19 (1.07%)
KSE100 45,536 Increased By ▲ 257.29 (0.57%)
KSE30 19,055 Increased By ▲ 156.4 (0.83%)
Business & Finance

Following COVID-19 SOPs is good for business, finds Study

  • “When people feel safer to spend, or more importantly, when the pandemic is kept at bay, the economy is more likely to have a quick recovery. Not to mention the lives that will be saved.”
28 Nov 2020

With the second wave of Coronavirus taking a toll, the implementation of COVID-19 SOP’s such as mandating masks could prove beneficial for the business and economy.

As per a study conducted by the Washington University U's Olin Business School, consumer spending increased by five percent on average in communities where masks were mandated.

The study researchers found that the greatest impact was on businesses such as retail, restaurants and bars. “The findings exceeded our expectations and show that we can have a strong economy with strong, commonsense public-health measures," Raphael Thomadsen, Olin professor of marketing and a co-author of the study, said in a statement. "Mask mandates are a win-win."

The study analyzed the impact of social distancing and mask mandates on the spread of Covid-19 as well as on consumer spending, found that consumer spending is reduced by social distancing, however, the result is reverse with mask mandates. The study revealed that social distancing among communities drop where communities had mask mandates, that positively effect consumer spending.

“Preventive measures such as social distancing and facial masks should be considered as pro-business,” said Song Yao, associate professor of marketing at Olin and a study co-author. “When people feel safer to spend, or more importantly, when the pandemic is kept at bay, the economy is more likely to have a quick recovery. Not to mention the lives that will be saved.”