1. Business
March 25, 2020

Social media is vital for brands during coronavirus self-isolation

By GlobalData Consumer

For many brands, especially smaller and more independent ones, self-isolation due to COVID-19 has meant closing their doors at a huge financial risk. But thanks to social media, many are coming up with creative ways to continue to be top of mind for consumers—digital do-it-yourself options.

Consumers are attracted to brands that are innovative and use smart solutions. In fact, according to GlobalData’s Global Consumer Survey Q4 2018, 74% are always/often/somewhat influenced by how digitally advanced/smart a product is.

In other words, brands that innovate and look to connect with consumers in creative and digital ways are appealing. Therefore, even the most traditional brands can take advantage.

In London, the oldest market in town is Borough Market. While still offering limited services and home delivery from its artisans and farmers, it is also now streaming live daily cooking classes through its social media channels.

Clothing brand Everlane is looking after its customers by partnering with health and wellness website Outer Reach and showing a daily stretching routine for those working from home.

In foodservice, the top restaurant Ava Gene’s in Portland, Oregon, is selling what it calls “Ava Gene’s staples” so fans of the restaurant can still make its meals, but at home instead.

According to GlobalData’s Global Consumer Survey Q3 2019, one quarter (24%) of global consumers are interested and actively buy products trending on social media.

As consumers are interested in products and services that are trending on social media, now more than ever is the time to connect by providing DIY, tips and tricks and experiences that are beneficial to consumers as a way to stay connected. This way, brands are showing that consumers can still benefit by using the brand, while maintaining social distance.

 

Verdict deals analysis methodology

This analysis considers only announced and completed artificial intelligence deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Country and industry are defined according to the headquarters and dominant industry of the target firm. The term ‘acquisition’ refers to both completed deals and those in the bidding stage.

GlobalData tracks real-time data concerning all merger and acquisition, private equity/venture capital and asset transaction activity around the world from thousands of company websites and other reliable sources.

More in-depth reports and analysis on all reported deals are available for subscribers to GlobalData’s deals database.

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