Data helps marketers better understand the reality of the world in which they operate. But what if these data no longer explain reality?
The covid-19 pandemic has brought a disturbing external factor into data analysis and planning. As a result, the volatility, uncertainty, complexity, and ambiguity of the typical customer behavior patterns previously accepted have increased. Common expectations of consumer confidence and purchasing behavior patterns no longer apply. The same is true for assumptions or hypotheses made about people’s dynamic patterns.
Circumstances change every day, making it impossible to carry out the plans that were previously established. As a result, many marketers and data modelers are trying to understand reality more accurately, and hastily started to find representative elements that help them model reality more accurately.
In Particular, This Change Is Being Detected In The Retail Sector
Ryan gressy, cmo of catch group, an online retailer that handles multiple products, said that social distancing due to corona 19 led to a significant increase in new customers and increased activity by existing customers.
There is a lot of variation in data that predicts future inventories,” he said. As shopping channels shifted online, they had to stock up on products that consumers were looking for. Demand for fashion has decreased, while demand for food has increased. Demand for sports apparel and home exercise equipment has soared thanks to people who want to take care of their health at home.”
As consumer behavior has Slovakia Business Email List changed, the criteria for daily product sales and long-term growth prospects have also had to change. This is to avoid buying too much or too little of the product to be sold. “I thought there had to be a new standard,” said gresh. It feels like preparing for the christmas season every day.
Online Marketplace Gumtree Autralia Is Also Clearly Aware Of This Change In Behavior
According to marketing director amanda verhre, demand for home office and fitness products has skyrocketed due to covid-19.
Searches for sports and fitness products CH Leads have increased by almost 66%,” behre said. Searches for electronic products and computers also increased by about 40%. Desks also increased by 218%. I started looking for more home improvement items, sporting goods like bicycles, home décor and diy items, musical instruments, games, and electronics. Then, as the distance was somewhat eased, more people searched for things like caravans.”