A Big Shift To The New Normal In Consumer Spending – Are You Ready For It?

digital marketing during the covid pandemic

According to the latest econsultancy.com report, on the first day of JD.com’s 618 Grand Promotion in June – a huge annual sales event for the brand –  its online supermarket JD Super saw a 100% year-on-year sales increase, while fresh grocery products saw an even larger boost of 140% compared to the same day in 2019. Younger people drove a significant proportion of these online sales, with 70% of those born after 1995 now shopping for ‘necessities for the whole family’ where they were previously only buying for themselves.

 

This is a phenomenon seen globally. People are:

 

According to Accenture, overall, as brick-and-mortar business activities slowed, businesses in some industries such as Investing saw up to three times their normal growth in online transaction volumes and/or revenues.

Source: https://www.accenture.com/sg-en/insights/artificial-intelligence/coronavirus-impact-singapore-digital-consumer

Some analysts predict that this may be a ‘new normal’, meaning that spending habits become permanent long after the pandemic is consigned to the annals of history books.

Therefore as marketers, regardless of B2B or B2C, how ready are you for changing buyer behaviour?

 

Here is a checklist for you to consider your state of “readiness”:

 

We hope this checklist will spark ideas and possibilities within your firm. For the how-to’s, perhaps you can contact MediaOne at enquiry@mm.com.sg or call our hotline (65) 6789 9852 for a no-obligations chat on what can be done.

 

We have been helping thousands of firms big and small succeed online for over a decade. I think we can definitely give you some options.

 

Stay Strong! Stay Safe!

 

Tom Koh

CEO, MediaOne

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