With GroupM’s global advertising forecasts coming next week, The Great Shift 2020 publication provides key context to what the forecasts will hint at The COVID pandemic, as it has with nearly every other business around the world, has completely upended the way we perceive the limitations on ways business can be conducted, and the way marketers can interact with their audiences. The use of virtual sales channels and other digital transformation strategies have undergone remarkable acceleration. All of these changes have forced marketing to rapidly transform itself, all without the aid of any playbook or standard operating procedure. With GroupM’s global advertising forecasts coming next week, The Great Shift 2020 publication provides key context to what the forecasts will hint at. It also details the shift caused by the pandemic in four major sectors (Auto, CPG & E-comm, Telecom and Financial Services) and another (Entertainment) where the industry has gone through significant change and, as a result, we must alter the way we think of them as sources of inventory.
- Auto has rebounded from 40-45% declines at the low point in April to current levels of flat or better.
- CPG manufacturers experienced a significant transition in how their products are sold, leading to a 277% increase in retail sales via e-commerce channels for food & beverage and health & personal care companies in 2Q20.
- Telecommunications consumers have exponentially increased internet usage – telco has responded with faster, more robust broadband services to support working or schooling from home and streaming service growth to telehealth needs, e-commerce and contact tracing systems.
- Financial Services has fared well during the pandemic, aided by liquidity from central banks from around the world paired with new government-backed loan programs and stimulus payments made to consumers.
- Entertainment, particularly streaming services, soared in large part because spending on content packaged by streaming services has been growing much more rapidly than spending on content packaged by incumbents.