Commerce has been changed for good. The recent surge in online shopping, attributed to the outbreak of COVID-19, has pushed consumers online at an astounding rate. Digital product pages have replaced brick-and-mortar shelves seemingly overnight, creating a new breed of online shoppers.
The status quo has been upended. History has shown these moments in time accelerate shifts that are already under way in society. What might have taken 10-15 years might now take 5. Your strategies should adjust to adapt to the rapidly changing role of digital experiences in our society and particularly in retail and brand manufacturing.
With Amazon Business expected to cross $52 billion in annual sales by 2023, the writing is on the wall for traditional business-to-business (B2B) industry players. The ongoing COVID-19 crisis has forced many buyers online, further accelerating Amazon's presence on B2B channels.
The ongoing COVID-19 pandemic has given rise to a great debate: Are we facing a pivotal moment that will meaningfully accelerate ecommerce adoption — or will the recent uptick in online shopping snap back to pre-pandemic levels once this crisis has ended?
As shoppers continue to shift to online shopping channels at unprecedented rates, many brand manufacturers have started to reconsider their routes to market. These brands are now also leveraging sales channels that offer more control, such as marketplaces.
Online ratings and reviews have grown in importance over the last several years. And as consumers continue to shift to online channels amid shelter-in-place and social distancing guidelines, its impact on your bottom line will only continue to expand.Brand manufacturers must see their products through the eyes of their customers.
Brand manufacturers of "non-essential" product categories have been hit the hardest by recent retail shutdowns. For these brands, strategies must focus on staying connected to customers and preparing for the return in shopper demand once this crisis ends.
As online sales continue to expand, shoppers are now seeking out personalized digital solutions that save them time and money. There are many tried-and-tested, brick-and-mortar promotional tactics — from weekly circular ads and coupons to multiple buys.
J. Walker Smith, called one of America’s leading analysts on consumer trends by Fortune magazine, shares essential insights to help brands face the ongoing demand shock with a new strategy: the four-step Kantar Signaling Framework. Learn how this framework could help brands reawaken the economy.“Demand is the problem. Signaling is the solution.”— J. Walker SmithChief Knowledge Officer, Kantar
Whether your brand is currently thriving or surviving, brands across industries must consider how to diversify and strengthen their routes to market. A direct-to-consumer (D2C) model has shown itself to be an enormous opportunity for brand manufacturers. As shoppers continue to embrace online shopping at unprecedented rates, and a D2C model could help brand manufacturers future-proof business by giving brands direct access to customers and better control over brand and product experiences.