How Much Are Consumers Willing to Spend on SVOD Services?

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About three-quarters (74%) of US households now have at least one subscription streaming video service. As services like Netflix and Amazon Prime continue to see their subscription numbers grow, is there a limit to how much people are willing to pay for such services? Here’s what a recent survey [download page] from The Trade Desk… Read More » The post How Much Are Consumers Willing to Spend on SVOD Services? appeared first on Marketing Charts .

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8 in 10 Adults Report Paying for At Least One Subscription Service

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Subscription services have become big business in the US, with more than 84% of American consumers saying they subscribe to at least one service and more than two-fifths (44%) subscribing to 5 or more services. That’s according to a survey of more than 1,000 US consumers conducted by InMyArea.com. Five of the top 10 subscriptions… Read More » The post 8 in 10 Adults Report Paying for At Least One Subscription Service appeared first on Marketing Charts .

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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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Americans may be willing to pay $5 trillion to stop the spread of COVID-19

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People are willing to give up quite a bit in order to save lives. A new analysis suggests Americans are willing to pay about $5 trillion to stop the spread of COVID-19 and save as many lives as possible – dwarfing the $3 trillion Congress has so far agreed to spend to support the U.S. economy and its workers. To get to that figure, we calculated the implicit value of public intervention measures like social distancing and statewide lockdowns—meant to prevent people from catching COVID-19 and possibly dying—by estimating how much people are willing to pay to have them implemented. Read Full Story

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The role of marketers in a post-COVID-19 world

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30-second summary: Tamara Charm is a senior expert at McKinsey & Company and the co-lead for its Global Consumer Sentiment Survey. McKinsey launched the Global Consumer Sentiment Survey in mid-March across 40 countries to better understand how consumer sentiment and behavior were shifting, overall. The survey explores consumer sentiments in the age of COVID-19 including level of optimism, expected spend, expected income, new behaviors, and what consumers plan to do moving forward. Preliminary findings reveal that, as the progression of the pandemic moves through the globe, consumer sentiment is starting to waver. Nearly half of US respondents indicated they plan to cut back on spending and are being careful about how they spend their money. Globally, McKinsey’s research reveals consumers are cutting back on discretionary spending across all consumer categories, except for groceries and in-home entertainment. The hardest hit industries — based on intent to spend — were travel and …

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Half of At-Risk B2C Service Subscribers Would Choose to Pause Their Plan Instead of Canceling

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It’s in the interest of any subscription-based company to keep churn rate low. With an estimated 27.4 million US consumers at risk of canceling at least one subscription in the next 6 months, subscription services are looking for effective ways to retain subscribers – and according to new research [download page] from Recurly, a pause… Read More » The post Half of At-Risk B2C Service Subscribers Would Choose to Pause Their Plan Instead of Canceling appeared first on Marketing Charts .

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Cardlytics’ spend report shows consumer spending beginning to recover

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30-second summary: To address the uncertainty around consumer spending in the age of COVID-19, ClickZ hosted a Peer Network webinar with Michael Akkerman, the Chief Product & Strategy Leader at Cardlytics. Through their ad platform, Cardlytics has visibility into half of all card swipes in the continental US. This gives the company a complete view into more than $3 trillion in consumer spending each year and is the basis for their State of Spend report. Weekly monitoring revealed spending from March through the end of April was in decline, reaching a max decline of about 35% across all retail categories. By the end of April, Cardlytics to see the trend in declining spend begin to decrease, with spending down about 21% at the end of April and down about 14% as of this past week. Grocery purchasing has fueled some of this recovery, with grocery prices increasing by about 3% …

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New study shows digital engagement is key to post-pandemic ecommerce customer retention

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30-second summary: COVID-19 has accelerated consumers’ shift to online shopping around the world, making digital strategy critical to retailer success, both now and in the future Analyzing these behavior trends yields insights about elevated retention risk, the primacy of mobile, shifts in purchase motivation, and in what drives brand affinity The holiday season will see many consumers planning to spend less, and to support local small retailers, so digital marketers must adapt Best-practice marketing strategies are now mission critical: Focus on customer relevance through personalization, seamless cross-channel experiences, and empathetic messaging across the lifecycle, or consumers will move on As the summer winds down, many of us are holding our breath in anticipation of another wave of pandemic-related headlines, guidelines, and obstacles to business as usual. The only thing we seem to be able to count on is change. That’s certainly the case in the retail industry, which has experienced …

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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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