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Covid-19 poll daily insights

Friday
April 24, 2020


 

Of brands that say their sales are increasing, many are hopeful this trend will continue as consumers adopt new at-home habits and realize how easy and cost-effective online shopping can be. A few brands said:

  • “I think more [consumers] will shop online now that they’ve been converted from stores to online and seen how easy it is.”
  • “I think overall this stay-at-home order has been good for us to convert customers. Our slogan is “Be Your Own Bartender & Barista” so we think that once people get used to making their favorite drinks at home for a much lower cost, it will stick with them even after the pandemic is over.”
  • “I hope people will be more conscious when they shop.”


Most brands plan to change an element of their business following the coronavirus pandemic. Of brands that have traditionally sold through retail or wholesale stores—channels that are having major financial issues right now—many are shifting to online or finding other avenues to sell through. To track post-pandemic plans, our brand survey asked the question, “What specifically will be the first thing you do for your business once stay-at-home orders are lifted?” Here are a few standout responses:

  • “Our major retailer we sell [through] went bankrupt which will affect our business significantly. We are waiting for the outcome.”
  • Another brand says they plan to “reach out to new retail partners.”
  • “Our biggest challenge is going to be swinging the pendulum from Wholesale[, which is] 70 percent of our business, to DTC which, up until January, was around 30 percent.”

how will you adapt 4-24

Two factors of success—a head start and hardwork. Of brands with increased website sales since the coronavirus, 95 percent (83/87) say they’d been selling through an ecommerce website before the coronavirus. And 66 percent say they’ve since spent more time and money improving their website for ecommerce sales.

how has your investment changed since coronavirus 4-24

Effective Marketing Moments

What’s working?

Philanthropic promotions. Nicole Miller, an online apparel company, is donating a portion of their sales to community efforts to help fight against the coronavirus. Their call-to-action button says it all—“shop and support.”

Nicole Miller email

Prioritizing health and hygiene. Sunbasket, a food subscription business, sent an email to their customer community, emphasizing their commitment to good health and sharing their food and employee sanitization practices. This is especially encouraging during a time when many may hesitate to purchase food from outside vendors.

Sunbasket note from CEO email

Highlights:

Brands with increasing sales

How are they feeling?

Brands with increasing sales say they’re seeing exciting revenue growth, but they aren’t sure how long it will last due to supply chain and working capital constraints.

One brand said it’s challenging to “find stock in the US and to get products shipped much quicker.”

Brands with decreasing sales

How are they feeling?

Brands with decreasing sales say their biggest challenge to achieving financial success post-coronavirus will be the new competition they face. As consumers increasingly shop online, more brands will focus on growing their ecommerce acquisition.

One brand said the challenge will be growing ecommerce customer acquisition with a limited marketing budget for advertisements and other paid placements.

Before you spend on advertising, here are some areas to optimize.

Brands with flat sales

How are they feeling?

Most brands with flat sales believe their biggest challenge or learning curve to achieving financial success will be finding marketing channels that allow them to stay in touch with their newly-acquired customers.

One brand said their specific challenge will be “learning email and SMS marketing to better connect with [their] community.”

More resources for businesses affected by Covid-19