According to Gartner, in 2020 100 million customers will shop in augmented reality, both online and in-store. With these numbers in mind, it’s about time to jump on the AR bandwagon and start reaping the benefits of stellar customer engagement, improved conversion rates, and wider reach.
Social distancing and self-quarantining have changed the world in a matter of weeks. How is Gen-Z responding? They are flocking to apps like TikTok, Instagram, and Snapchat to pass time and interact with family and friends. Facebook and WhatsApp have lost their reign over the competition during lockdown.
To get a better understanding of Gen-Zers’ habits, routine, and lives during the pandemic, Brainly, the world’s largest peer-to-peer learning community, surveyed over 1,700 of them.
Gen Z shoppers, in particular, have more friends with different races, gender identities, and sexualities than previous generations. They are more likely to be influenced by social media stars, who come from a wide variety of backgrounds, than traditional Hollywood celebrities. As a result, members of this generation value diversity more than other generations, and that value influences their purchasing decisions year-around.
“If you look at baby boomers from this lens, they’re far more homogenous. Millennials and Gen Z are the antithesis [of] homogeneity,” Hebets says. “Brands need to understand that millennials and Gen Z don’t want to be put in the traditional box with respect to marketing or otherwise. They want brands to embrace and recognize their diversity.”
The youngest generation of consumers is not only ad-averse, but also prefers to consume content when and where they want. With 71% of Gen Z claiming to prefer streaming services over traditional TV, the formula for successful content platforms is simple — provide consumers the content they want to see on the devices they use outside of the house.
It’s equally important for platforms to cut through the noise and remove commercials and ads if they want to secure Gen Z support moving forward. While we all have specific tastes in what shows we watch, older generations of consumers were perfectly content sitting through commercials and ads. Gen Z is not of this mindset.
DTCs are notoriously effective in courting young shoppers, including millennials and emerging Gen-Z consumers. This is likely because younger shoppers, growing up in the digital age and native to its conventions, gravitate toward convenience and are less tied to the longstanding preferences that legacy brands carefully crafted through decades of advertising. Mobile, which is tied to identity and location and offers quick digital purchasing options, is the platform where these trends are most exaggerated.
Amazon already uses its most valuable weapon — its own internal data — to compete with its own suppliers. It analyzes customer behavior around noted CPG brands, key market sectors, and private-label offerings from brands that sell on its platform to make decisions about where to launch its own private labels.
What can CPGs do to make it a win-win?
Back to School (BTS) is a $53 billion shopping season that’s entering its final stage as parents and college students take care of school supplies and clothing needs before Labor Day. And as we close out this decade and look to the 2020s, the combination of mobile technology, hyperlocal commerce, and consumer expectations make this a fascinating juncture in BTS history.
Fortunately, these complex market scenarios represent more of a golden opportunity than a paradox due to the promise of mobile. Here are two reasons why national and local brands should leverage data to bridge the online-offline gap and improve their BTS sales.
The big topic of the week was industry change, driven largely by transparency. Agencies are evaluating opportunities and challenges to their business model as buyers demand more oversight of media, fees, and attribution. Increasing interest in ad tech in-housing has also stoked soul-searching.
Every brand also talked about reflecting an authentic, real world in its marketing—from the people in front of and behind the cameras, to creative and targeting strategies. The campaigns that seemed the most likely to succeed were all “purpose-centric,” with the brand rallying around a specific and common cause.
A freshly released report from SMB software firm Broadly uses data from a survey of 300 SMB leaders to paint a picture of the American SMB in 2019: gradually embracing mobile-first communication, skeptical of innovation that undercuts human connection, and ambivalent toward large digital marketplaces like Amazon and Etsy.
Last year, almost half of Amazon’s private-label sales were in consumer-packaged goods. Pre-Amazon, legacy CPGs once would’ve been the beneficiary of that demand. CPGs have struggled to evolve with younger consumer preferences. Here’s what I mean, along with ways AI can help them improve.
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