The global pandemic has reset the business chessboard. Customer loyalty has taken a huge hit and the holiday shopping season is arriving sooner than expected. Businesses have felt the heat this summer. This week we’re looking into the ecommerce and customer loyalty stats (fresh in) to help you create a playbook for Q3 and Q4 2020.
COVID-19 has given the globe a 10-year technology leap in terms of adoption and absorption and ecommerce is clearly winning.
Ecommerce has hands down been in the top five winners for the US and UK, especially. An exclusive mobile app economy survey by mobile app intelligence provider, Apptopia, Inc. shows that ecommerce, retail, and grocery apps have crossed 750 million users globally.
The highest growth (Q1 vs Q2 2020) in app downloads and daily average usage (DAU) was observed here:
Besides the Americas and Southeast Asia, the global average session duration dropped 0.33%.
Ecommerce app downloads peaked mid-March (credits the pandemic). Good news is, the daily average usage (DAU) has shown a steady growth which will continue as the holiday shopping season arrives.
Customers are at the heart of all the business activities and as data from McKinsey suggests, customer loyalty has taken a huge hit. Hence, making it the vulnerable “King” of the chessboard.
The US has anticipated a 12% drop in private consumption over the next two years, with recovery to pre-crisis levels only by 2023-24. With customer loyalty being on shaky playing areas, our next segments will cover the what and how to help your ecommerce business activate more purchases, reduce cart abandonment, and improve sales.
In their latest survey report, Periscope by McKinsey tracked digital and in-store consumer behavior across the US, UK, Germany, and France. A close look conveys that in the last two months customer loyalty has seen numbers drop and is the most fluid in the US and UK markets. The numbers speak loud and clear:
Here are the rankings on why there’s such a big shift in loyalty and brand preferences:
In fact, loyalty card offers have seen a decline, March vs June (Q1 vs Q2)
Place your pieces strategically and checkmate your competition for the rest of 2020. Here’s a list of the ecommerce playbook essentials, powered by Periscope by McKinsey’s survey:
We’re seeing readers buckle up for 2021 in terms of a humanized approach for B2B marketing strategies and first-party data.
To top it off, the early onset of the holiday shopping season has got hundreds of marketers flocking for insights to light up their ecommerce strategies.
The post Key Insights: Ecommerce, customer loyalty, the playbook for Q3 and Q4 2020 appeared first on ClickZ.Reblogged 2 months ago from www.clickz.com