Entrepreneurship

Hawke Media Coronavirus Report: May 20, 2020

hawke-media-coronavirus-report:-may-20,-2020-|-blog-|-hawke-media

The numbers are in and all live-streaming platforms saw an increase in activity. EVERY. PLATFORM. GREW.

The category as a whole grew an unfathomable 45% from March to April, according to data from StreamElements and Arsenal.gg. Even more astounding is the 99% growth YoY as more adopters flock to streaming platforms due to the advent of physical distancing regulations.

Gamers and non-gamers alike have been making their way to Twitch and consuming 1.645 billion hours of content in April. An interesting trend that reflects the popularity of video games as a means to stay connected with others or disconnected from reality.

Epic Games took full advantage of this in partnering with, rapper and Kardashian-in-law, Travis Scott to build an in-game concert experience for Fortnite players. Leading to nearly 12 million concurrent views.

Like the video game industry has made clear, there are opportunities for brands in many categories to grow, nurture, and cement their audiences.

Consumer Trends

By Category

Source: Bazaarvoice
  • Simply put, it’s clear that consumers are looking for ways to be entertained and stay busy according to reported product page views from over 6200 eCommerce brands aggregated by Bazaarvoice.
Source: Bazaarvoice
  • An interesting trend presented here is the growth in orders for that same cohort of over 6200 brands related to hobbies, DIY, and home improvement projects. Consumers are looking at ways to get outside and stay active while remaining at home.

Behavior

Source: Klaviyo
  • According to a Klaviyo survey, a majority of participants in the US said their first priority we’ll be to go to a restaurant, followed closely by seeing family. A trend that leaves the foodservice industry primed to make a comeback when restrictions are loosened.
  • If Wisconsin is any indication of how the population at large will react, restaurants and bars can expect people to be eager to take advantage of dine-in service and bars.
Source: Klaviyo
  • There is one consistent motivator for driving purchases for shoppers in-person and online, with low prices being the top priority.
  • Surprisingly, online shoppers aren’t worried about safety measures at all.
Source: Klaviyo
  • Memorial Day is approaching, thus a big sale season for many retailers. The automotive industry continues to take a beating as demand for vehicles has dropped significantly for a workforce that has been relegated to the home office.
Source: Klaviyo
  • The “New Essentials” category (Apparel & Accessories – Activewear, Electronics, Hardware & Home Improvement, Health & Beauty, Housewares, Home Furnishings & Garden, Office Supplies, Specialty, Sporting Goods, Toys & Hobbies, Education, Telecommunications) has begun to markedly outperform essentials and non-essentials.
  • This reinforces the importance and emergence of the at-home economy with a strong emphasis on entertainment, improvement, work, and overall health.

From China

  • Consumers are beginning to be more conscientious of their spending and saving more. A trend that likely lends itself to the precarious state of the world economy as businesses attempt to bounce back and people are increasingly out of work.
  • Consumers will expect an experience that integrates online and offline interactions. Shoppers will want the convenience and safety of online shopping with the experience of brick and mortar.

Business Trends

Shipping

Source: Route
  • There has been a drastic increase in the number of shipments being reported stolen from February to March, up to 131%.
  • While eCommerce is seeing an uptick in orders and revenue, fulfillment is not without its issues as shipments are naturally more vulnerable to theft than an in-person purchase.

Culture

  • There are a number of hurdles to overcome, including leadership, structure, communication, burnout/fatigue, and plain old human interaction.

Marketing & Advertising

Source: Marketing Charts via Bynder
  • While COVID-19 has forced many brands to shift their messaging and refocus their strategies, it hasn’t changed their brand identity.

Resource

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

About the author

Steve Hutt

Steve has entrepreneurship in his DNA. In the early days of online commerce, he achieved Power Seller status at eBay, which then propelled him to become a founding partner of VisionPros.com, a contact lens, and eyewear retailer. After a successful exit from his startup, he embarked on his next journey into agency work in e-commerce and digital strategy.

Currently, Steve is part of the Merchant Success Team at Shopify Plus, where he is a Strategic Advisor helping brands continue to grow and scale with the Shopify Commerce Platform.

To maintain a competitive edge and life of learning mantra, Steve also hosts and produces a top-rated weekly podcast show, eCommerce Fastlane, where he interviews Shopify partners and subject matter experts who share the latest marketing strategy, tactics, platforms, and must-have apps, to help Shopify brands build and scale lifetime customer loyalty.