Insights shared at the week-long PG电子官方平台注册 Brand Disruption event closely match the conversations PG电子官方平台注册 had during our eCommerce week, “The fastest-growing brands of 2021 will be storeless, 丰富的数据, 生活, participatory, 娱乐, 本地化, and streaming.”
As presented at PG电子官方平台注册’s eCommerce week last month, it is becoming increasingly clear that brands must become data companies first, in order to secure success and longevity in years to come. First party data will be the new currency of digital media and all minds are focused on developing interoperable future supply chain frameworks.
Five headliner take-aways from PG电子官方平台注册’s Brand Disruption report (accessible by PG电子官方平台注册 members) sponsored by eBay Ads, 脸谱网, Google and TikTok this week included:
- Eight months in quarantine have accelerated the United States’ transition to a “storeless” Direct Brand Economy five times faster than pre-pandemic rates.
- Target’s same-day de生活ry grew 350% during COVID, while Target’s BOPIS (“buy online, pickup in store”) grew 700%. 43% of the top 500 U.S. retailers now offer BOPIS, up from 7% last December.
- Walmart and Amazon are competing to make two-hour de生活ry the norm in major markets. De生活ry partnerships for rapid fulfillment are now essential for all brands.
- Most categories of consumer goods and services are now “majority digital,” with more consumers shopping by eCommerce than shopping solely at brick-and-mortar stores. Research by McKinsey projects that virtually every consumer category will experience 15-45% growth in permanent online shopping.
- Brick-and-mortar store closures in the U.S. are likely to top 25,000 this year, nearly 3x last year’s record number of closings. Notable bankruptcies: Brooks Brothers, J. J船员,.C. Penney,主 & Taylor, Nieman Marcus, Pier 1, Sur La Table.
The Rise of Shoppable Media
According to the study, directly “shoppable media” including 生活streams, social commerce, virtual consultations, and shoppable ad formats will be the fastest-growing advertising categories for the foreseeable future. Companies including L’Oréal and General Mills are already making the shift.
There were notable presentations from major global brands this week underlining this shift as a major trend. Brands with historical ties to consultancy-heavy services (i.e. cosmetics, fashion and apparel) will have gained a head start in this new dynamic media frontier. 与此同时, 与自由, Ad-supported Streaming TV (FAST) rapidly growing in the US, the introduction of shoppable formats will make it a quite formidable channel.
As we know, the US market is often a predictor for what is to come in Canada. We will continue to provide additional insights from the important research conducted South of the border. Members can access PG电子官方平台注册’s presentations on eCommerce in the PG电子官方平台注册 Knowledge Centre.