The augmented reality (AR) market is projected to be valued at more than $18.8 billion in 2020 as AR ads are seeing a 520 percent increase in intent to purchase over the next six months and a 75 percent higher memory response than non-AR ads.
Why it matters: As consumers increasingly shop online, AR can help brands fuse the digital and physical worlds, enabling them to reach new digital shoppers through virtual tours of physical storefronts, virtual product try-ons and interactive packaging.
After a 41 percent drop in influencer marketing efficiency in April, the influencer marketing industry rebounded with 59 percent of influencers seeing an increase in brand interest during the pandemic.
Why it matters: Half of the marketers surveyed reported spending more money on influencer marketing during COVID-19 while 62 percent have noticed increased sales due to these partnerships.
This year’s Black Friday sales event was marked by a roughly 22-23 percent increase over 2019, yielding between $9 billion and $13 billion in online sales. Mobile comprised $3.6 billion, a 25 percent increase.
Why it matters: Retailers unable to cope with logistical hurdles caused by a surge in online sales and decreased foot traffic will experience greater-than-normal returns, unhappy customers due to shipping delays and shipping cost increases of up to nearly 15 percent.
Why it matters: It’s important that brands provide creative and safe ways for consumers to live actually and artificially at the same time.
Accounting for 40 percent of all consumers in 2020, Gen Z has an estimated spending power of $150 billion and uses the internet to shop for apparel, footwear, at-home entertainment and food takeout and delivery.
Why it matters: Retailers offering goods and services outside of the aforementioned industries must adapt to the digitally-savvy Gen Z by marketing on formats they heavily consume and adopting brand values that resonate with them.