There are so few words to describe the significance of the losses that have mounted over the last few weeks.
From groundbreaking actors like Chadwick Boseman who gave black people an unparalleled level of representation in superhero blockbuster films, breaking away from stereotypes and bringing to life a world where a blackness thrived in an advanced civilization.
To the legendary John Thompson Jr., the inimitable coach that led Georgetown University to its first college basketball national championship in 1984, the first won by a black head coach in the history of the competition.
All of this as the death toll from coronavirus continues to climb past 185,000 and the murders of two protesters in Kenosha, WI fighting continued police violence and inaction by our leaders. We are a nation in mourning.
Consumer Trends
Savings
- In the midst of financial uncertainty, consumers report saving more, even among those who report being unemployed.
- This trend shares an interesting correlation with the growing unemployment rate, which stood at 10.2% through July.
Spending
Black Friday | Cyber Monday
- Cyber Weekend is one of the most crucial revenue-generating periods for most consumer brands.
- Most shoppers who made a Cyber Weekend purchase in 2019 had an interaction with a brand’s email prior to the start of the holiday season.
- This shows that brands should be working to engage with their customers and potential customers well before the season begins.
By Category
- Not surprisingly, shoppers are spending more time at home and buying things to suit the at-home experience like loungewear and video games.
- Along with saving more, consumers are putting off large purchases due to concerns about future financial stability.
Business Trends
Spotlight: Zoom
- Over the course of the pandemic, Zoom’s net income has increased an astounding 3,300%, according to an ABC News report.
- Zoom’s Q2 earnings eclipsed their total revenue for the whole of 2019.
Shipping
- An analysis of delays in shipping speed across a number of parcel types shows widespread increase in delays.
- This comes as the Postmaster General comes under fire for a number of changes that are believed to have led to inefficiencies in processes at USPS.
- Consider this when communicating shipping and handling to your customers.
Resources
For Hiring
- A talent database of 3,000+ professionals whose employment has been impacted by COVID.
For Minority Founders
- A list of 40+ resources for minority entrepreneurs.
This article originally appeared in the HawkeMedia blog and has been published here with permission.
