Shopify Ecosystem

Hawke Media Coronavirus Report: June 17, 2020 | Blog | Hawke Media

hawke-media-coronavirus-report:-june-17,-2020-|-blog-|-hawke-media

During the month of May as states, counties, and cities started to open back up across the US, the setting was primed for many businesses to stage their comebacks.

Like an underdog in a feel-good movie, many businesses happily opened their doors to customers eager to shop. Scrappy businesses everywhere took it upon themselves to take the necessary precautions to get back to work.

And the numbers are in for May. According to data from the US Census Bureau, while retail sales are down -6.1% YoY, they have rebounded +17.7% MoM. Interestingly enough, online sales account for just over half of this growth. 

5eea45c19431f47c8bb7fddf 3ioDZ75LgMSic saBTJkG3ewPFF3QDyLLhk769j44iMCESWOt4YU36L a2wgHI1DNozt b 7aSZueHYkgm8q1mrSCfP7BZ4bvUFPq 7IEfArqmMPaNUzyN3PUujH5Y1aj5qdjfXh

Source: Raj Nijjer via Twitter

These are hopeful numbers. Economists only predicted retail sales to grow by around 8% MoM from April to May. This is a massive historical achievement and gives businesses a lot to look forward to in the short term.

While the online experience continues to grow in popularity and convenience, people are making their way back in-store as well, offering a look into what pandemic-era shopping might look like for the foreseeable future. A clear preference for a mixed online and offline experience.

Consumer Trends

Shopping

5eea45c1a8a54d0d6ab5203b W4QfwSI Rdphk2RBeOtVSHu74Odtwbw aS2QNWeYtsWIgR7Wxa88A68SEDSdLsOG5uM6 1fTo2j05GNkhdh4YT9x qeWJ3ksYduXIRDqNitb0jSIfTOpMrgvax bHynEejGWRwA3

Source: Pymnts
  • Nearly one-third of consumers are continuing to shop at levels consistent with their pre-COVID habits.
  • That same group of consumers has shifted their focus to online shopping.

5eea45c2ed9c4461edef60c9 ssid6UFkGnqS7B7o xwVHdtLr0t0S1bUXDJNMftRkC4dg15b4hUX1YN8vTK POFYiZPtda4PjaH4iOt zwZ3uQV AWBwq1H9ZR59d5oDhJqLJ2w5BApqg9SdF18 sYsveAjLSfwM

Source: Klaviyo
  • The preference for online shopping is fairly consistent across every region in the United States.

Sentiment

5eea45c25b46f8a0d5d12634 24LOMKlEWMiUbhu3B4BsAkTqF7LszjT1zdk qayBmcYDrbM11MrJ6zQXqM1uW8qd4Ph1 S1wXNF0hLWkd aSA5BnFZYWK78

Source: Morning Consult



Source: Morning Consult

Source: Morning Consult
  • After reaching low points, consumer sentiment has begun to rebound from lows in May based on criteria that include personal finance, business conditions, and current buying conditions.
  • For more information on the methodology, visit Morning Consult for a closer look at the data.

Winners: Food Delivery

5eea45c292a215bd60817142 iKhgyU k9bFXxu9TYBkWI1z vecw rL66wlGOae0RAZG9aE97QiBA29po4O5r cw64I ctxnzs0J8zJpk0OcvAPJxvFBXoDb8GLroW VOY3Hh2A2go0Ac61tsfXZ0MNPnYix uML

Source: Philadelphia Inquirer
  • Pandemic-era food delivery exploded during the height of COVID, the biggest beneficiary being Doordash as people are hesitant to go out and under orders to stay in their homes.
  • Domino’s also saw a 14% spike in same-store sales for the first 8 weeks of Q2, according to MarketWatch.

Business Trends

Road to Recovery

5eea45c365b8c2884d461bfb vIpxOFq rO3SEDngdxgpXOYRsnqdDr

Source: eMarketer
  • While it may take a significant amount to time for things to return to normal, the large majority of businesses believe that they will be able to return to normal operations sometime in the next 2 years.

Email

5eea45c39431f4115eb7fe93 NxBeLkbJKl tb2oxW5Sy4O3mrAh7NdfDElIYlKYsfoj3HaJLyX9ECKPpt2M X5SUwuhxXax WLETo1ztk6Y U4Dt7RXeV4Zbph3 GYKEGpRwMJpojC7Y8IdjGXCWk61PdBYc5sPm

Source: Omnisend
  • According to Omnisend’s data, email open rates are up an astounding near-29% YoY from 1/1-4/26 2020 compared to the same period in 2019.

5eea45c3885bc97f791ebaee P2guyLNLtkKXPAON9E50xiPn910X5611fM6OdSAJa3yKX9CUiVQZkfwBoi UxXZODrGzDNum1SRkOdoVW2eQibmrBsDGlsQ

Source: Omnisend

  • Email conversion rates have also been on the rise as COVID-era email interaction trends upward. They peaked in March and have declined slightly as shoppers wrestle with financial uncertainty.

Advertising

5eea45c379847d1f2251017f o0mqYtdnzKZckP3FEnhfCMAfJpFAJqRGyAfJd817XSz6um2hiCgBrEyxxlRnYRjLVE1rWPwNHFYLIMNNr9Feiacqo1WtO BiASpV4kmTCQg pT1JCBHO8VHC7aIrlIj1ogpfe4D8

Source: WARC
  • Brands cut a total of nearly $50 billion from their ad spend to make up for projected losses from COVID-19.
  • Categories that were hit the hardest, like travel & leisure levied more dramatic budget cuts as business came to a virtual standstill.

5eea45c3f3e35424c8c11c1b nVIomlgRKjcbAD4yXvGIUWQxvu pNyWEQPv6TwAzN8QSHhc0gmjeWOPz8lD9rRgeiY0BDg8dMfAN8 ADgeMyMcgVF9w HBwj6hP2RreiHBM3liHohybqJLVA1njRt2vX vROgzj4

Source: WARC
  • While there have been spending cutbacks across the board, digital channels are still seeing growth as brands focus on quick returns and fast deployments.

This article originally appeared in the HawkeMedia blog and has been published here with permission.

I'm also on

Subscribe to Podcast

Top 1% most popular show out of 2,729,419 podcasts globally!

eCommerce Fastlane | Shopify Podcast For DTC Brands | Growth Marketing Strategy For Entrepreneurs | Listen Notes