We know that consumer shopping behavior changed dramatically in 2020 – due to both restrictions and personal preferences. However, live events are on, places are open, and consumers are ready for it all.
The National Retail Federation revised their 2021 annual forecast and now projects that retail sales will total anywhere from $4.44 to $4.56 trillion this year. Yes, consumers are ready to shop, but where they shop, why they shop and what they buy will look different in 2021.
Next week we will celebrate Black History Month – an event that celebrates and recognizes the impact that Blacks/African Americans have had on our history. According to ASALH, the Association for the Study of African American Life and History, the theme for 2021 is The Black Family: Representation, Identity, and Diversity.
Without a doubt, 2020 has been a most unusual year, and the need for good tidings and holiday cheer have never been apparent than now. Shopping this season will be a way that consumers will turn their focus from current events and concerns to celebrating the holidays and a hopeful return to the routines that they all miss.
As states are in various phases of reopening, consumers find themselves in various stages of their own phases. These phases continue to shift and change the behaviors that had once been routine to so many. In order to meet the challenges, needs and concerns of their customers, businesses will need to be nimble to best address and meet their customers’ expectations.
The audio landscape continues its evolution — driven by the growth of various content options available. Specifically, the world of podcasts is increasing by leaps and bounds. In 2018, 124 million people have ever listened to a podcast according to The Infinite Dial 2018. In 2015, that figure was only 89 million!
Podcasting growth can be attributed to the increase and diversity of audio content. While radio has always had content available on demand, there are now personalities, radio stations, etc., that are creating content just for podcasts. These podcasts are giving marketers new and creative ways to reach their intended target audience.
With millions of people listening to all of this content, what do we actually know about podcast listeners and their spending habits?