Half of Consumers Stopped Buying A Brand Due to the Pandemic

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It’s become a cliche to say that 2020 was an unprecedented year. US consumers were faced with a contentious election, social unrest and, of course, an ongoing pandemic that, along with threatening the health of the population, also took a financial toll on many. Through all this, a report [download page] from Merkle reveals that… Read More » The post Half of Consumers Stopped Buying A Brand Due to the Pandemic appeared first on Marketing Charts .

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The new normal post COVID-19 will require a deep understanding of the consumer

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30-second summary: Lean on real-time data and insights to understand and engage consumers in meaningful ways. Elevate marketing and engagement strategies, acknowledging new consumer needs and shifts in behavior — increased e-commerce, social media usage and streaming TV. Deliver real value to consumers using localized approaches, messaging and incentives. The ongoing COVID-19 pandemic is rapidly changing consumers’ shopping habits, brand engagement and media consumption behaviors both now and in what will be our “new normal.” While much of life has changed due to social distancing, the temporary closure of businesses and apprehension even as restrictions are lifted, it’s important for brands and marketers to connect with customers in meaningful ways. Rather than pulling back on marketing or pausing engagement efforts, marketers have an opportunity to engage consumers in powerful ways by tailoring campaigns to new needs and priorities. During this unprecedented time, recent research from Valassis shows consumers value communication …

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These Brands Had the Fastest Growth in Consumer Buying Intent in 2020

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With a global pandemic changing the way consumers shopped, worked and communicated throughout the majority of 2020, it’s no surprise that the year’s Fastest Growing Brands [download page], as determined by Morning Consult, included brands specializing in online communication, entertainment and food delivery. Per the report, “growth was determined by taking the share of consumers… Read More » The post These Brands Had the Fastest Growth in Consumer Buying Intent in 2020 appeared first on Marketing Charts .

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M.Gemi, the Italian leather shoe company, is launching a line of handbags—and saving some of the world’s most sought after Italian artisans in the process

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M.Gemi uses the same handbag makers as some of the most luxury fashion houses, but sells them for half the price. Launching a new product category is a risky thing for a brand to do in the thick of a pandemic—particularly if those products are handbags. After all, who would buy a gorgeous new leather tote or clutch while sheltering in place, with nowhere to go? But Maria Gangemi, founder of direct-to-consumer footwear startup M.Gemi , couldn’t help herself. Read Full Story

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Why consumers follow and unfollow brands on social media

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30-second summary: Sprout Social has been compiling a consumer index report of social media trends since 2013. Their 2020 report contains new insights and statics about how brands and consumers interact on social platforms. Marketers can use this information to better align their social media strategy to their customers’ expectations, ensuring that their content resonates. The survey revealed that 89% of consumers will buy from a brand they follow on social media and 75% will increase spending with that same brand. Understanding why consumers follow (and unfollow) brands, what type of content they’re most (and least) interested in, and what stand-out brands are doing right can help marketers gain more followers, while driving leads, sales, and growth for their organization. Sprout Social’s 2020 consumer index survey, Edition XVI: Above & Beyond , found that 50% of consumers have increased their social media usage in the past six months. The data …

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Five changes in social advertising for brands during COVID-19

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30-second summary: The increased use of social platforms from users during lockdown led to a decrease in the advertising cost. Many industries benefited from this sudden change making the most of the reduced competition and the cost-effective ad results. According to Smartly.io’s survey, users are more open to engaging with advertising on social media, especially in countries that experienced stricter lockdowns. The best way to create effective ads is to find a balance between consumer needs and advertising best practices. According to Smartly.io’s report, one-third of consumers want brands to share relevant messaging that is useful during and post the pandemic. More consumers expect from brands to continue their advertising compared to the ones who wish they’d stop for the time being. Not everything is negative for brands right now. Despite the uncertainty, it’s encouraging to see that consumers are now making more purchases through social media compared to the …

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Key insights: Effect of COVID-19 on consumer behavior, the world’s more video content savvy, and Apple shakes up AR

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30-second summary: According to Global Web Index’s findings, 80% of consumers in the U.S. and UK say they have consumed more content since the outbreak. According to emarketer, 49% of marketing professionals and agencies held back a campaign launch until later in 2020 and 45% stopped or paused a media campaign midway. Admoik shared that there was a 17.2% drop in week-over-week ad revenues, direct deal and programmatic guarantee being the biggest drops. Despite the 8.3% decrease of retail industry’s M&A deals, Apple acquired AR technology startup, NextVR for a $100 million with an intention to launch its AR headset in 2022 and AR glasses in 2023. 53% of consumers prefer brands to communicate through TV ads. According to McKinsey, UK, Spain, and Italy are least optimistic, whereas the US (37%) and China (48%) are optimistic about their economies jumping back to normal in the next two-to-three months. Purchases are …

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Practical tips to transition your ecommerce business in the second half of 2020

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30-second summary: The idea of flexible pricing is to ensure sales, and it’s easier to make sales by selling products at the lowest price. However, your goal should be to find a price at which consumer purchasing friction is low, and the profit margin is fair enough. Leveraging perpetual inventory management software for inventory accounting is ideal for ecommerce sites. It will keep you up to speed about the sale and purchases of goods and items. Be it a loyal customer or a new customer, ecommerce stores need to ensure that every customer passes through the same authentication steps with no exceptions. Employing AI and Machine Learning algorithms could help in this case. If you haven’t got a chatbot for your business, then this is the time to get one. You can get a chatbot builder or take the help of an agency to construct a bespoke chatbot to drive …

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Using the right data to understand consumer behavior

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30-second summary: Marketers who craft messages that match customer expectations and build trust will be more successful at connecting with consumers in a COVID-19 world. Data is increasingly being employed by marketers. However, with so much data available it can be difficult to separate useful insights from noisy data points. It is imperative for marketers to be thoughtful when choosing who they market to and how they drive outreach, and to be available to consumers who are in-market looking for guidance. Consumers that feel a brand is putting them first during COVID-19 are more likely to trust that brand to keep them safe, recommend that brand to family or friends and favor it over others. The more trust you can build, the more success you will have in the long run. Leveraging the right data has never been more important for marketers. COVID-19 has created a shopping environment unlike anything …

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About Half of Global Consumers Expect Financial Benefits in Exchange for Their Data

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Consumers are apt to believe that companies are more likely than they are to benefit from the collection and usage of data. That hasn’t necessarily stopped consumers from sharing their data, though many expect financial rewards in the future. In fact some 47% of global consumers agree that, in the future, they will receive financial… Read More » The post About Half of Global Consumers Expect Financial Benefits in Exchange for Their Data appeared first on Marketing Charts .

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