{"id":28630,"date":"2020-04-20T10:51:30","date_gmt":"2020-04-20T03:51:30","guid":{"rendered":"https:\/\/roctec:8890\/2020\/04\/effect-of-covid-19-on-consumer-behavior-the-worlds-more-video-content-savvy-and-apple-shakes-up-ar\/"},"modified":"2020-04-20T10:51:30","modified_gmt":"2020-04-20T03:51:30","slug":"effect-of-covid-19-on-consumer-behavior-the-worlds-more-video-content-savvy-and-apple-shakes-up-ar","status":"publish","type":"post","link":"https:\/\/www.roctecglobal.co.th\/en\/28630\/","title":{"rendered":"Effect of COVID-19 on consumer behavior, the world\u2019s more video content savvy, and Apple shakes up AR"},"content":{"rendered":"<div>Businesses have pulled spending from marketing campaigns, US and China are optimistic about their economies, agile marketing adoption is up from 32%, and more from across the globe.&nbsp;<br \/>\n&nbsp;<\/div>\n<div><strong>Summary:<\/strong><\/div>\n<ul>\n<li>According to Global Web Index&rsquo;s findings, 80% of consumers in the U.S. and UK say they have consumed more content since the outbreak.<\/li>\n<li>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.<\/li>\n<li>Admoik shared that there was a 17.2% drop in week-over-week ad revenues, direct deal and programmatic guarantee being the biggest drops.<\/li>\n<li>Despite the 8.3% decrease of retail industry&rsquo;s M&amp;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.<\/li>\n<li>53% of consumers prefer brands to communicate through TV ads.<\/li>\n<li>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.<\/li>\n<li>Purchases are up, while average order value is down, resulting in growth returns on a daily basis that exceed the biggest shopping days of the year&mdash;even Black Friday.&nbsp;&nbsp;<\/li>\n<\/ul>\n<div><strong>COVID-19&rsquo;s effect on consumer behavior<\/strong><\/div>\n<div>According to Global Web Index&rsquo;s findings, 80% of consumers in the U.S. and UK say they have consumed more content since the outbreak.&nbsp;<\/div>\n<div>Broadcast TV and online video streaming platforms like YouTube and TikTok are winning more screen time as primary mediums for all generations and genders.<\/div>\n<div>Consumers seeking pandemic-related updates are at a predictable 68%.The most preferred media consumption across Gen Z, Gen X, and boomers was online videos,&nbsp; music streaming, and online press.<\/div>\n<div>&nbsp;<\/div>\n<div><strong>Here is an age group breakdown of media consumption:<\/strong><br \/>\n&nbsp;<\/div>\n<div><strong>Media consumption of Gen Z &ndash; 16 to 23 year old:<\/strong><\/div>\n<ul>\n<li>Online press &ndash; 21%<\/li>\n<li>Music streaming &ndash; 28%<\/li>\n<li>Livestreams &ndash; 17%<\/li>\n<li>Books\/literature &ndash; 18%<\/li>\n<li>Podcasts &ndash; 11%<\/li>\n<li>Online videos &ndash; 44%<\/li>\n<\/ul>\n<div><strong>Media consumption of Gen X &ndash; 38 to 56-year old:<\/strong><\/div>\n<ul>\n<li>Online press &ndash; 31%<\/li>\n<li>Music streaming &ndash; 27%<\/li>\n<li>Live streams &ndash; 21%<\/li>\n<li>Books\/literature &ndash; 21%<\/li>\n<li>Podcasts &ndash; 10%<\/li>\n<li>Online videos &ndash; 35%<\/li>\n<\/ul>\n<div><strong>Media consumption of Boomers &ndash; 57 to 64 year old:<\/strong><\/div>\n<ul>\n<li>Online press &ndash; 15%<\/li>\n<li>Music streaming &ndash; 12%<\/li>\n<li>Live streams &ndash; 9%<\/li>\n<li>Books\/literature &ndash; 13%<\/li>\n<li>Podcasts &ndash; 4%<\/li>\n<li>Online videos &ndash; 11%<\/li>\n<\/ul>\n<div>US consumers (87%) and UK consumers (80%) are consuming more content with a lion&rsquo;s share going to streaming broadcast TV, online videos, and online streaming. Netflix boasts an 18% rise of paid subscriptions, and Spotify stands as the clear winner of music streaming.<\/div>\n<div>Live streams (30%) and podcasts (20%) are more popular among millennials than other generations.&nbsp;<\/div>\n<div>Men and those in the higher income bracket are more likely to say they&rsquo;re consuming a variety of content more compared to women and those in the lower-income bracket.&nbsp;<br \/>\n&nbsp;<\/div>\n<div><strong>COVID-19 impact on media-buying<\/strong><\/div>\n<div>According to emarketer, marketing professionals and agencies have taken an obvious hard hit, but the numbers are concerning:<\/div>\n<ul>\n<li>49% held back a campaign launch until later in 2020<\/li>\n<li>45% stopped or paused a media campaign midway<\/li>\n<li>38% paused all advertising until later 2020<\/li>\n<li>34% scrapped campaigns pre-launch<\/li>\n<\/ul>\n<div><strong>Paid advertising<\/strong><\/div>\n<div>53% of consumers prefer brands to communicate through TV ads. 35% of consumers are more interested in hearing about online retail (excluding food) than they were before.<\/div>\n<div>As per the research conducted by AI software company Remesh, 97% of people are using social media for at least one to three hours a day.&nbsp;<\/div>\n<div>Despite targeted advertising, these were some statistics the research discovered<\/div>\n<ul>\n<li>64% of people ignore paid ads<\/li>\n<li>49% blocked those ads<\/li>\n<li>79% of people urged brands to have ads that are positive, caring and inclusive<\/li>\n<\/ul>\n<div><strong>Consumer spending during COVID-19<\/strong><\/div>\n<div>According to McKinsey, UK, Spain, and Italy are least optimistic about their economies bouncing back to normal. Whereas, the US (37%) and China (48%) are optimistic about their economies jumping back to normal in the next two-to-three months. People are showing a positive only for groceries and at home entertainment.&nbsp;<br \/>\n&nbsp;<\/div>\n<div><strong>McKinsey data insights for UK consumers:<\/strong><\/div>\n<ol>\n<li>Less than 20% of British consumers have an optimistic view of the economy &ndash; a decline from last week<\/li>\n<li>Nearly half of UK residents plan to continue reducing their spending in the next two weeks<\/li>\n<li>Consumers are spending more time connecting virtually and consuming digital media<\/li>\n<li>Consumer intent is only positive for groceries and entertainment at home<\/li>\n<\/ol>\n<div><strong>McKinsey data insights for US consumers:<\/strong><\/div>\n<ul>\n<li>46% will reduce spending over the next two weeks<\/li>\n<li>44% are delaying purchases given the uncertainty of the coronavirus<\/li>\n<li>Consumers expect to focus this spending online.<\/li>\n<li>shift to online channels is being driven primarily by Gen Z, millennials, and higher-income consumers.<\/li>\n<li>Aprroximately 76% believe their finances will be impacted for the next 2+ months post the COVID-19 situation<\/li>\n<li>Positive intent for groceries, entertainment at home and household supplies<\/li>\n<\/ul>\n<div>Grocery sales have a 23% spike as compared to pre-pandemic sales, indicating that people are entering a new pattern of &ldquo;home-confined buying&rdquo;.<\/div>\n<div>&nbsp;<\/div>\n<div><strong>Source :<\/strong> <a href=\"https:\/\/www.clickz.com\/key-insights-effect-of-covid-19-on-consumer-behavior-the-worlds-more-video-content-savvy-and-apple-shakes-up-ar\/261203\/\">https:\/\/www.clickz.com<\/a>&nbsp;<\/div>\n<div><strong>Image by<\/strong> Gerd Altmann from Pixabay&nbsp; &nbsp;<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Businesses have pulled spending from marketing campaigns, US and China are optimistic about their economies, agile marketing adoption is up from 32%, and more from across the globe. <\/p>\n","protected":false},"author":1,"featured_media":23211,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37],"tags":[],"class_list":["post-28630","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-insight"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - 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