It’s already September, congratulations on making it this far! We have kept a real-time eye on the market movement to help businesses pivot, survive, and even thrive in the face of the pandemic. The golden hours for customer acquisition are chiming with Thanksgiving 2020 and the much-more-talked-about holiday season. This week’s key insights aim to help you “channelize” and “mobilize” these opportunities.
Fresh data from mobile market data and analytics platform, App Annie shows that unemployment rates in the US are currently 2X higher than pre-COVID-19 times. American households will have way lesser liquid cash and higher price sensitivity.
In relation to the same, eMarketer discovered that upper-income US consumers have made the biggest spending cuts and intend to spend on certain categories once things are “back to normal”. Buying clothes, vacationing, and buying electronics some of the top things thrown to the back burner – these are even for all the income groups right from houses with <50K to the ones minting 100K+ per anum.
The chart below helps understand the categories that your business niche falls into.
On the contrary, 2020 Q4 is positioned to see the largest ecommerce holiday shopping season. What are you missing in the mix? Find out.
As per our earlier key insights article, mid-August showcased the top 12 technologies in the marketing technology space, Advertising & Promotion stood at position three as a category.
However, our latest data shows Advertising & Promotion accelerated to position two towards August end.
Consumers are anxious and look towards brands for comfort in the form of deals and promotions. This is the time brands must cater to their customer base. In light of which we’ve highlighted the technologies marketers have been keen on evaluating or investing in for the “Advertising & Promotion” category (August):
Since 2020 has brought avant-garde curtains, it’s poetic justice to share that ecommerce might see the biggest mobile shopping season in Q4. With Walmart, Target, Home Depot, Best Buy, Kohl’s, and other retail chain giants announcing that their stores will be closed on Thanksgiving 2020, ecommerce will champion holiday season shopping.
App Annie’s data predicts a trend that Android devices will surpass one billion hours on shopping apps. This is a 50% increase from Q4 2019.
Prime Day will take center stage during the shopping frenzy as holiday shopping won’t be solely driven by Black Friday and Cyber Monday. Why? Because 76% of Americans use Amazon making their famous Prime Day will be a key addition to Black Friday and Cyber Monday.
We’ve created a playbook to help you formulate a winning ecommerce playbook, activate more purchases, and bump up sales during Q3 and Q4 2020.
Readers have been deriving strategies for Q3 and Q4 ecommerce sales through our weekly key insights, B2B marketing, and the bright side of the death of third-party cookies.
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