Hawke Media Coronavirus Report: May 28, 2020

Marketing Strategy

While many of us have lost track of time and see each day melt into the next, coronavirus has become an unwelcome house guest that we try to avoid, but can’t dismiss.

This manifests itself in different ways for all of us and it seems one-third of Americans are experiencing symptoms of depression, anxiety, or both as detailed in a report from The Washington Post.

The collective consciousness of the country is dealing with a spectrum of emotion and trauma from restlessness to grief and everything in-between as the nation nears 100,000 virus-related deaths. Pandemic-era life is shaping lasting patterns and imprinting new lifestyle traits on the people of the world.

As we step outside of COVID restrictions and begin returning to the world, we must remain vigilant and conscious of the impact this virus has had on our mental health as well as our physical health. That means seeking help and guidance when you need or want it because struggling to cope with the effects of prolonged isolation and a global catastrophe isn’t something you’re expected to be prepared for.

There are a number of resources (1, 2) you, your friends, family, and anyone in your network can turn to as a healthy means of fighting the unseen impact of coronavirus.

Consumer Trends

COVID-19 is creating a number of new considerations when it comes to the way people feel, think, and behave. It’s pervasive and some aspects may last long after the virus is an afterthought.

Online vs In-Store Shopping

Source: NPD

Behavioral

Food

Source: Hunter
  • Americans have begun to cook more at home. As early as 2017 it seemed that the percentage of Americans who enjoy cooking at home had dwindled to 10%, now jumping to 35% as concerns over hygiene and safety are heightened.
  • This trend correlates to the spike in demand for groceries and the decline in restaurant spending.

Work

Living

  • The decentralization of work caused by the pandemic may have a lasting impact in the places people can and choose to live. The virtual office will enable employees to live outside of urban hubs with ballooning cost-of-living expenses.
  • Additionally, everyday life will require more space, even in densely populated urban centers.

Spending

Source: Virtual Capitalist

Business Trends

Ad Spend

Source: SEMrush
  • The largest budget ad spend campaigns increased their spend in March 2020, which could demonstrate a knowledge of the opportunity to take advantage of lower CPCs to gain more traction with target demographics.

By Industry

Source: SEMrush
  • The only category that maximized ad spend during March 2020 was Beauty & Fitness as shoppers were practicing self-isolation and looking for ways to remain active and practice personal care.

Cost-Per-Click is Down (Almost Across the Board)

Source: SEMrush
  • With the exception of a few categories, CPCs were down. Any brands with available capital could take advantage of this period to increase share-of-voice in a crowded advertising landscape.