The United States continues to break records as coronavirus surges grow with states like California, Texas, and Florida hitting record highs in confirmed cases, the latter setting a national record for most cases and most hospitalizations in one day.
The number of consumers that are shopping primarily online is growing as well, with 40-70% expected to make the shift almost completely.
Globally, consumers are increasingly willing to go the extra mile and part with their data to help with contact tracing and other initiatives.
Additionally, nearly three quarters have found themselves working from home at least part-time.
In 2020, the only sector forecast to see real growth globally is Food & Beverage, not including alcohol.
Retail sales are projected to end the year down 5.7% from 2019, which is 12% below pre-COVID projections.
Global GDP decline is expected to hit 3% which is stark in contrast to the 0.1% global GDP decline of 2009.
While growth is expected to drop on a global and national level in most regions, eCommerce across many categories has experienced unprecedented growth like the 149% increase in US home improvement sales.
Digital channels are becoming increasingly more relevant as consumers shift their focus from traditional media, many spending time in apps, so ad dollars are following that pattern.
Google’s ad revenue dropped by an astounding 5.3% in June 2020. Other major digital advertising platforms experienced similar hardship with the exceptions of Instagram, Snapchat, and Amazon.