The COVID-19 pandemic has already profoundly changed the way we work, the way we spend, global economy operates, and digital marketing strategy. What we don’t know is how permanent these changes will be, and what other changes are in store.
Last week, eMarketer reported on consumers’ changing spending habits in the United States.
“As the coronavirus pandemic leaves many fearing for their health and jobs, consumers are shifting their time and money toward things with immediate utility in daily life,” the article read. “But they’re not entirely closed off to companies with products that don’t fall under that category – brands can still prove their value during the crisis by providing help to others.”
It’s only natural for families to spend more on essential items in times of crisis, but how long can we expect these new priorities to last? Is this cautious approach to consumerism temporary, or is it the new normal? How close are we to answering these questions, and what effect will they have on digital marketing strategy?
The same questions apply to other changed behaviours, such as the shift from brick-and-mortar to digital retail, increased media consumption, and consumers’ willingness – or even expectation – to hear from brands about the unique challenges of our time. The answers, when they emerge, could shape marketing and business practices for generations.
A new normal is emerging in countries around the world. In Canada, we are in limbo: the virus appears to be under control, but a new outbreak causing a second wave of infections is possible at any moment. These precarious times demand flexibility and agility from the business community. The bottom line in 2020 is less about profits and more about the health of our world.
As a Google Premier Partner digital marketing agency, GrowthEngine Media is equipped to help your business navigate the uncharted waters caused by the global COVID-19 pandemic. Contact us today to discuss your strategy.